aceofswords
Short

POTENTIAL SPOT FOR EXIT BEFORE RETRACE

FX:XAUUSD   Gold Spot / U.S. Dollar
107 5 0
POTENTIAL SPOT FOR EXIT BEFORE RETRACE : AT Intersection of price with 60Ma fib line and flag T/L
the big pinbar does not look like a reversal to you ?
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Yes indeedy it does and did when it appeared, so much so, that this is where I topped up my existing shorts and added!
However throughout yesterday and in fact from late on Tuesday afternoon, I mentioned several times that I wasn't comfortable with how the price action was shaping up. BTW, If you take a look at the chart above on an H4 TF and daily, the bear flag becomes more defined and obvious ;0)
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Looking at PA now, and the PA all day Wednesday, I am more than likely going SHORT at fib or slightly below ;0)
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Good enough for me bro ;0)
I just exited some serious gold positions in profit and look forward to a retrace as stated ;0)
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what do you mean? this does not look like a bear flag.
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