This would not be a easy one for us this one. We manually closed our sell order that once was running profit, ending up with -100 pips loss. This happens.
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 CYPHER. 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.