Massive sell signal on gold. This choppy channel price action is trademark (B) corrective. Bearish engulf on Monday retested with substantial shooting star has led to a 1 hr break of structure. Got a short on silver, selling gold on retracement (if one substantiates). Could be a huge liquidity event in the making where everything goes down. Targeting $1750, or for an extension to take out the stops below $1680. Elliot Wave is forecasting that this will be the final flush (C of wave E) before the huge impulse move higher begins, kind of like a massive head-fake.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.