We manually closed our sell order that once was running profit, ending up with -100 pips loss.
Back to this chart.
Check the red lines first. The red pressure line extended from highest high is still valid to us . That makes ABCDE wave is still possible for gold to follow to drop . But we need more confirming signals for that kind of sell order.
The green lines there are possible for GOLD to retest the highest high by following a possible . Now as you can see, gold has made it back to 1500. This friday would be a good chance to move up more if foundamental or momentum support.
We might not open a new trade this week on gold again after making 100 pips losses. Loss is not what we worry about. The unclear direction or entry to setup a trade is.
LESS IS MORE!