Gold Spot / U.S. DollarUpdated Gold Correction Play (Mid-Jan 2020)
Gold is back in correction mode before trend resumption, so there are 2 tradable paths. I'm assuming this correction won't be as slow moving as Sep-Dec 2019 correction. IF it is slow, this ABC plan will fail. I'm reasonably confident a bounce here off 1546 ought to break 1563 local high. Flexibility and speed are needed here and the TPs can change.
Trade closed manually
Different pattern formed.Order cancelled
Trade active
Note
This is more accurate so there's no surprise if WXY becomes WXYXZ:Note
Fighting the blue line support
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Disclaimer
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.