an interesting thing I have noticed on Gold. after each and every bear impulse that we have recently seen, pullback lasts until 618 retracement of an impulse leg.
how it can help us? if the market continues following this rule, we will see bearish continuation and new lower low. with 1260 target level.
would not you think it is more likely looks like a complex pullback on the weekly timeframe? if not so how you define it to make a video on it
VasilyTrader
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@Hamza-Malik, hey, honestly, it is very subjective and you are very right.
on weekly indeed it looks like a minor pullback.
but still it is very high chance to see new lower low
Hamza-Malik
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@VasilyPonomarev, Yup, it is just a topic I recommended for your video :)