Mihai_Iacob

Gold- Inverted hammer can be a warnning. Wait for confirmation

OANDA:XAUUSD   Gold Spot / U.S. Dollar
I was bearish Gold for almost 2k pips, from above 1800, and even warned that 1680 "ultra spoken about" support will not hold and had a target around 1600 for the drop.
However, even if that 1600 target wasn't touched, I closed my short trades for now and decided to sit on the bench in waiting for clarification.
Yesterday's candle is an inverted hammer and this can be the first sign that a correction to the upside will follow.
That being said, I wait for the market to make the first move, having a bullish bias though.


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