FX:XAUUSD   Gold Spot / U.S. Dollar
78 3 3
update with this 5-0 bullish pattern.
Close 50% short position @1316$
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Hi, thanks for your comment.
I know it's not a safe trade (SL set to 0 though). I'm already short @1332$
I'm waiting for the weekly close. If price closes below 1315$, then i think gold would drop at least to 1275 level.
See my weekly view :

Above 1315$, i would reconsider my point of view.
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if i were you, i wouldn't put too much stock in shark patterns. right now, i got no bearish signals at all on H1/H4/H8/D/W/M charts. so considering the current situation, i would not be surprised if market retests the 1331.9 level, with a possible bull run to 1370.8. i'm not saying tomorrow 21 Feb, but sometime next week. it'll depend on how and where the week starts off. for ex, if next week mr market can't drop below 1321.0, then i'd bet the upside is gonna open up more with plenty of targets between then and 1370.8.
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