Gold has rejected off of support @ 1672, and has made bullish movement, closing above 1688 and has formed support structure (yellow line).
I'd describe yesterday's movement as an impulsive bullish movement, which is now experiencing it's corrective bearish move.
I will be looking for loss of bearish movement along this price range, with stop loss under the structure, and TP just at the previous high.
I'd describe yesterday's movement as an impulsive bullish movement, which is now experiencing it's corrective bearish move.
I will be looking for loss of bearish movement along this price range, with stop loss under the structure, and TP just at the previous high.
Comment:
Position was up +100 pips, and got stopped out at unexpected bearish movement.