Gold preparing to melt down!
Updated
As we can see its clearly creating LH and LL also it dropped every time right off the FIBS and from a rising wedge.
I believe we will climb back up a bit to around 1480-1488 area where we have:
Daily Trend line Resistance where we can create a next Lower Low,
Selling Area-Supply zone,
Top of the Chanel,
0.382 Fibonacci level.
Feel free to write your comments. Every comment is appreciated!
Good luck guys
I believe we will climb back up a bit to around 1480-1488 area where we have:
Daily Trend line Resistance where we can create a next Lower Low,
Selling Area-Supply zone,
Top of the Chanel,
0.382 Fibonacci level.
Feel free to write your comments. Every comment is appreciated!
Good luck guys
Note
Gold playing around 1475 marked as Important area. Still holding shorts!
Trade active
Price broke trough our first resistance 1490. Im still SHORT BIAS based. I still see a potential move to the downside. Resistance @ 1515 holding good, trade deal phase 1 going to be signed up, divergences on all time frames and we are on the downtrend so everything is still pointing to the downside move. I added more sells will see how it develops :) R:R
Trade closed: stop reached
Sorry for late update. My Stop Loss has been hit at 1517. Looking for new possible set ups
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