Last 1-2 weeks ago my overall view on the lower time frame for GOLD was to wait for bullish price action to have a potential buy in short term.
Price however didn't form the continuation price action on the lower time frame for me to consider any entries.
Instead, structure/pattern can evolve, and in this case, instead of a bullish continuation on the lower time frame, we are seeing the structure more as a bearish continuation instead now.
With the overall sharp reversal impulse down, form the all time highs, price has now form a possible continuation correction right outside the ascending structure.
Be on the look out for smaller continuation correction as the confirmation for more bearish impulse phase to push the price lower to the next swing lows.
thanks @jojofang0901 i started following your approx 2 yrs or more back and i sat at your feet and took in your content ...i asked questions, even foolish ones and you guided me through the trading journey. it almost felt like a one on one session for me. u came into my trading life at a crucial fragile time for me and showed me the light, you were an angel. i will forever be grateful. just wanted to show my appreciation. you are heaven sent. thank you.
Yes, indeed, the Monday strong bearish engulfing is a sign. If Gold is dropping under 1800 is not good for bulls and we can have reversal of the long term trend
just wanted to show my appreciation. you are heaven sent. thank you.