Possible SHORT on GOLD before Harmonic confirmation of LONG?
It seems there is a good chance that we have a possible SHORT on breakout of structure (after fibonacci move) Possible Entry#1. MACD, RSI and Stochastic all indicate bearish trend and overbought status. SMA indicates current bullish movement, which is expected to form a corrective structure before a SHORT setup can be taken. Harmonics suggest possible formation of Bullish Cypher pattern, IF price range of Entry#2 is achieved. A LONG can be taken if the harmonic pattern is confirmed, all the way up to the upper channel trend line for a completion of a wave C. I will take a SHORT on this if SMA and structure confirms downward movement.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk.
Plan your trade and trade your plan... and IF in doubt, stay out.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk.
Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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