gold's bullish impulses have been looking to me more like corrective structure. and after seeing price reaction from my last gold post(golden), price hit only 38.2 target and rejected resulting in a bearish impulse. if we draw a fib retracement from this impulse, price is currently loosing momentum at the 61.8 level. i do not use fibonacci to determine my setups but the fact we are at a 61.8% pullback makes it a good indication we can see price get rejected once again.
price may dip below 1300 this time.
sl on chart is a "soft" sl. once an entry triggers then sl may have the possibility of being at the swing high or few pips above.
also RSI is looking like it will be breaking to the bearish side soon.
use a tested strategy to enter.
price may dip below 1300 this time.
sl on chart is a "soft" sl. once an entry triggers then sl may have the possibility of being at the swing high or few pips above.
also RSI is looking like it will be breaking to the bearish side soon.
use a tested strategy to enter.
Comment:
i think the chart was not published right. zoom in to capture the idea
Order cancelled:
no contraction. no crossover. no breakout. no trade
David K Giraldo