look at the 4h chart ,the important support level was brokenout by strongly power ,i think the drop down space is opening .now, a AB=CD pattern completed at 1290.00 and the RSI is over sold here , so i suggest the short position should take some profits here .if you didn't do a short trade,i think there is an idea to plan a long trade at 1289.00 area (of course ,must light position ) ,i don't want to trade this short-term long trade ,because it's not my trade style .what i will do is waiting the price pullback and retest the neckline (at 1300.00 area ) ,then i will get ready to short .
good luck guy.
good luck guy.
Comment:
wow,the drop down's power is so strong ,don't buy !!!
Comment:
panic selling last night .
Order cancelled:
1300 area is an important support level this year , most buyer set their stop loss of the long trade here .so if the price drop down quickly , most of the long trade are forced to stop out , made the drop down much more poerfull .
Comment:
the gold get some support now (the 0.382 fibo and previous support ),if you still holde the short trade ,suggest to take some profits here.
