Gold Short -- Hopefully a Nice Channel
Updated
A nice channel took us from the low at 1123 to 1219. Let's see if a nice channel shows us the way for part of the retrace.
.236 was my confirmation of a deeper retracement.
.382 (and .5) will be watched closely
.618 could be a point to either exit or watch for upward retracement, if not at .382 or .5
If you missed the long in it's channel, this could be a nice chance to grab some profits.
Now that it is at the top end of the channel, I'll hold longer and scalp less (ha, maybe).
Targets are clear.
.236 was my confirmation of a deeper retracement.
.382 (and .5) will be watched closely
.618 could be a point to either exit or watch for upward retracement, if not at .382 or .5
If you missed the long in it's channel, this could be a nice chance to grab some profits.
Now that it is at the top end of the channel, I'll hold longer and scalp less (ha, maybe).
Targets are clear.
Trade active
Comment
A 1h closeup of where we are right now...Comment
Comment
Comment
Short term to 1197.8 before more down or break false channel.
Comment
1195 to 1190, 1190 to 1204 before larger short. See new chart for this week's early moves before short chart is posted.
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