Earlier today I was analyzing this idea, to not buy the gold when everybody said it must be bought, but wait until the will complete and eventually a breakout to either side occurs. As awaited, the breakout came to the downside, urging for early completion of that presented in the chart below. Price action can very easy continue to the downside until the red arrow support is hit. I am waiting for a rally from there, but I really do not want to miss this one, so I got long at the completion of the . Details of entry, SL and TP on the chart below.
Yes indeed. I followed your idea today, but didn't made the long because of the descending triangle, although it was a big one and completed almost till the end, which is also a sign of weakness. So we could see a nice rally soon, anyway I am already long on this. Have a good trade! Regards.