I am and I was among those traders, who was skeptical in a further exponential growth on gold this autumn. And finally selling volumes have been accumulated and we see a strong bearish breakout of key structure support .
Our bias clearly remains bearish and there is a lot of space to go lower, however, what is worth paying attention to is the equal measured move formation and slowing momentum on a lower timeframe.
for this reason, there is a high chance to see a retracement to a broken structure level, and then, most likely, more sellers will jump in and we will see a bearish continuation to lower structure.
our first significant level of support will be around 1446.
Adjust your trading plan accordingly, good luck!
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