Leg D completed on the Weekly... expecting bears to come in here

Those who have been following our commentary on Gold will have known 1180-1220 was our initial entry for longs when the position was anti-consensus. Once it started working we released the idea of longs towards 1345 and finally we are here after 14 weeks.

Expecting a large retrace here as bulls unwind their positions and book profits, we have an opportunity to ride this retrace leg to the downside.

Inflation is starting to edge down, the only card we need to be aware of is risk. For those tracking the macro side, via inflation 1225 is the only level in play for bears on this final leg E. There is plenty of room below current levels and we see great value in shorts here.

Best of luck to those trading live, please remember to like and comment and keep the support coming.

Thanks

Comment:

A perfect start here

Comment:

Comment:

First targets in this Short-term swing hit after testing 1285. Well done those enjoying the move so far, 1225 remains key target in play.