thefreedommatrix

XAU/USD - GOLD - 3 Scenarios

thefreedommatrix Updated   
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Short correction the most likely option here considering RSI among many things, although u never know with Kim and his candy / geopolitical things. DXY is on the brink of falling down from neckline of 92. If prices continue down under 92 then there is nothing stopping a stock market correction / gold surge imo considering all the surrounding variables within the economy
Trade active:
Watch for line to break down towards 1311 for sell if you missed sell when (D)
Could bounce of the middle line
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Look for a flag and buy it down. If price bounce of the middle resistance line then parabel down after small rally to point D or the pattern was wrong and we get a new rally
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On its way down to channel
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Order cancelled
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time to long with a tight stop. If stop breaks then look for a retest of 1300

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