Does this mean gold is still going to be stick in resistance before breakout?
Short on wedge break. Yellow lines are targets.
Those who fail to plan plan to fail. H/S scenario IMO. Obviously this is pre-news, pre-holiday.. But a necessary set up. I believe there is still support here and shorting could get you shaken out for one more resistance test. If bears are successful, shorts should pile in on neckline break for a re-test of the 1750 area.. I posted on my last idea the idea of...
Bulls next major fib up is 886 sitting at 1793. That is more likely scenario IMO , but bear have missiles in the air.. Buyers are seeming to slow. Flag break means buy if youre not already in longs.
No shorting. Accumulating cash. Waiting for entry.
Bulls still have the keyes. This is a tight SL scalper. Don't get greedy. Don't over trade. Stay out the game when you don't have clarity.
Brief relief for GOLD bears and US pairs
Entry on 1760 range break: TP1 1790 TP2 1830 SL 1740