When Prices are making new highs, the trend is UP! We have 2 options, buy a retracement, or sell the top. Going with the trend has better returns and lower risk than opposing the current trend, hence, the prognosis here is that gold will make higher highs.
the retraction is measured against the previous minor retraction. If the flow continues doing what it is currently doing, we can expect a relative sized minor retraction, with new highs to be made in the near future. The next major LOR is at 1782-1800, expect Price to stall at this area.
A buy signal is currently in play, however, never buy the top. Price shall retract, gather its energy before making a new swing
a sell signal would be when the current resistance holds and price breaks the confirmed major low pivot. until then, the market trend is up
the retraction is measured against the previous minor retraction. If the flow continues doing what it is currently doing, we can expect a relative sized minor retraction, with new highs to be made in the near future. The next major LOR is at 1782-1800, expect Price to stall at this area.
A buy signal is currently in play, however, never buy the top. Price shall retract, gather its energy before making a new swing
a sell signal would be when the current resistance holds and price breaks the confirmed major low pivot. until then, the market trend is up