Gold overdue correction may be here now.

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Daily and 4H chart pattern is ascending triangle . Wait for 4H bearish break for confirmation to enter.

Watch the blue boxes as target and reaction, if there is no bullish candle, keep shorting.

I am expecting to go below 1700 area.
Comment: 1745 area, break below will proceed to 1721 area.
Comment: If bullish engulfing, this structure is invalid.

Comment: Just re-enter another short..

Comment: Keep SL tight.
Comment: Gold already move about $20 from lower 59, it wont break higher today... in fact...
I forgot about 0.786 area..

Comment: If Daily candle is above 1765, put SL at BE around 1778. Price may continue going up. Nobody can predict. Either you TP or let the trade run...
Comment: 4H engulfing... I have decided to pull out from gold trade this week.

Comment: Re-enter short 1777, SL 1795. Bull cannot trade above 1778. Is a sign.. Let's see.
Comment: Waiting for the reaction here..


Bullish continuation possible.
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