The move gold will make is quite clear now assuming it is setting up a bear flag at the moment (which looks like it's breaking down as I type this).
The measured move lines up perfectly with the lower support from the wick.
If we wick off there and closer back above the upper support, I will be going long.
The measured move lines up perfectly with the lower support from the wick.
If we wick off there and closer back above the upper support, I will be going long.
Comment:
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Comment:
I am not buying this rally yet. There still hasn't been a retest and resumption of any of the support on the 8hr timeframe, which is the most reliable.
I would like to see a liquidity grab with a wick down to the bottom support just to take out all the people going long too early.
If not, I will be looking for a retest and resumption of the red S/R line it is currently sitting on
I would like to see a liquidity grab with a wick down to the bottom support just to take out all the people going long too early.
If not, I will be looking for a retest and resumption of the red S/R line it is currently sitting on
Comment:
Profits taken here, expecting some sort of pullback