Taking SHORT position on GOLD might be good idea.
We are currently in supply zone.
We can expect some correction if supply zone holds.
Possible target is PP at 1298 which is also confluent with retesting trend-line.
It trend-line holds PA we can expect short term trend reversal.
From weekly perspective we have one big green candle, so supply zone might be engulfed and retracement migth come later not this time (see DEC17, JAN18)
We are currently in supply zone.
We can expect some correction if supply zone holds.
Possible target is PP at 1298 which is also confluent with retesting trend-line.
It trend-line holds PA we can expect short term trend reversal.
From weekly perspective we have one big green candle, so supply zone might be engulfed and retracement migth come later not this time (see DEC17, JAN18)
Order cancelled:
Supply zones engulfed