Fumba

Update on a short-term setup

Fumba Updated   
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
The 2 gold setups I posted on November and January followed through nicely with profits. Gold is still bearish bias but is currently at a strong support level and this poses a potential mini correction movement. Below are the previous ideas.


Comment:
Movement 1 and 2 followed perfectly with profits. Now, first wait for a clear upward movement or break below. Gold is still choppy and bearish, however the net positions still favor the bulls for now. Remember to apply your risk management.

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