Gold has been bullish in the past few weeks. It has came down to consolidate and break more stop losses. But do not be deceived that the market has changed to a bearish market. It is still bullish so look for buys at the current area, in case it breaks the area, then stops should be applied.
Alternatively, if the price goes up and retests the resistance line I marked and 4H candle fails to close above. Then the correction hasn't completed. It will continue downward to the 50% or 61.8% fib areas before continuing the bull run.
Let me know your thoughts and if you agree, give me a like.
Trade closed: stop reached
⋅
Comment
⋅
An update of my trade setup.
Comment
⋅
Missed out on this trade as I was on a holiday. Looking still bullish.