mcpeacocks

gold could be up for a significant drop

Short
mcpeacocks Updated   
FX:XAUUSD   Gold Spot / U.S. Dollar
just look at the 4hr chart - mild divergence, flag/triangle consolidation pattern and previous support levels.
IF this support level breaks and holds, there are few other levels below to stop a significant drop down to 1125 or even lower

this would coincide with the potential USD breakout to the topside - which is currently being limited by weekly Ma's:

Trade active:
short triggered
Trade closed: target reached:
waterfall! TP1 hit
otw to TP2
pulling stops to BE
Trade active:
retracement couldnt break the 0.618 nor the 0.382
consolidating now
possibly adding to this with part of previous profits
Comment:
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