Inv Rev Cup and Handle formed and the price broken below the Brim level. There were mixed signals with the indicators and I warned you that we need the price to break and confirm below the 200MA. Which obviously, it tested reversed, Smart Money jumped in swept liquidity and pushed the price up. However, it's not just Smart Money to blame.
Gold had a bit of reverse as investors had no idea where to put their money in. They are freaking out with the bank crisis in 2023. They are freaking out with Silvergate and crypto exchanges still liquidating. They are freaking out with these fears of high interest rates coming in the US.
So as bitter as it hit the stop loss, it gives us a fantastic hedge for long side with Gold incase we get a pump catalyst with the market soon (which I doubt).
I will be waiting for bulish signals to buy Goldfields. Let's see.