MountainTraderFX
Short

GOLD CORRECTION SCENARIO UPDATE|

OANDA:XAUUSD   Gold Spot / U.S. Dollar

READ MY PREVIOUS GOLD SHORT IDEA TO UNDERSTAND THIS ONE BETTER. LINK BELOW THE POST!

Gold has formed yet another bullish triangle, signaling it's determination to storm the 1800 ultra level.

If so, THE short, from the previous idea stands strong. Here is a bit of a detail: I'll be closely monitoring the price action around the 1800 level, and look for confirmations. Should I find one, I'll go short, but be ready for being stoped out by a false breakout. Then re-enter. The current drawings represent that scenario.

It is possible, however, that GOLD market makers opt for a horizontal correction instead. That scenario is shown on the chart too.
That way gold can wait till it reaches the long term upward trendline support.

You might have a chance to enter into the horizontal correction first leg with the short, but be careful and wait for a CONFIRMED breakout!

Let's see what the stars decide, meanwhile, thank you for reading, I really appreciate.

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this is my idea ?
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