Gold is ready to drop
XAUUSD recently pushed up on impulse to retest previous all time highs wick. Now, price has pushed down a bit, created a lower low off the 618 fib level, and the market structure demonstrates a downtrend. Price also made a double bottom to be at this point so potential trap W to induce people to buy just to flip the script on them and sell this mf. Price created previous highs that were broken but never retested because of this impulse, therefore take profit can be set at those previous highs and stop loss can be the top or middle of zone where all time high price was retested. Swing trades mane.
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