Gold in correction may have completed 2 legs of an ABC movement.
A suggested short is as follows
1. Enter - around $ 1860
2. Stop - around $ 1880 ( above bearish recent candle, very aggressive) , above B point ( very conservative risk)
3. Target - around $ 1820 ( prior support and equal extension ABC)
RR = 3.5 +
A suggested short is as follows
1. Enter - around $ 1860
2. Stop - around $ 1880 ( above bearish recent candle, very aggressive) , above B point ( very conservative risk)
3. Target - around $ 1820 ( prior support and equal extension ABC)
RR = 3.5 +
Comment:
Typo - enter $1960 , out $ 1980 and limit $ 1820 . As per chart.