Gold | Bear Bias
Updated
As our last gold analysis was canceled but price moved accordingly and is still within great R:R, we have decided to re-engage this metal
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Price has set itself a beautiful expanding channel pattern with an accompanying ABCDE corrective sequence. As price currently sets on (E), we should see price slump down further
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The bear scenario is currently accepted and the bias is confirmed
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Price is set to head for the 1197 area, while anything over the 1230.5 level is considered invalid
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Price has set itself a beautiful expanding channel pattern with an accompanying ABCDE corrective sequence. As price currently sets on (E), we should see price slump down further
-
The bear scenario is currently accepted and the bias is confirmed
-
Price is set to head for the 1197 area, while anything over the 1230.5 level is considered invalid
Trade active
Comment
Seek to move any stops to break-evenTrade closed: stop reached
Closed at break-even, Fed rate hikes expected to pause.
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