Expecting a drop to 1844, In NY opening gold broke the weekly resistance but that breakout has turned to be a false breakout because bulls are unable to defend 1875-1878 area.. My plan is to monitor the market on 4h tf and waiting patiently to test 1875-1878 area which has now turned the resistance again, upon rejection i will be looking for a short..
Comment:
i am short at 1874
Trade closed manually:
Since the bond yeilds are falling i close the short order open at 1874 at 1867.. i will be adding long if 1878 breaks and yeilds tend to continue under negative pressure