I believe there is still a bit more upside to go in gold before it falls from B to C and then we will see some buyers come in to take it to D and more selling will then take place.
This chart is an opinion based chart only. Please trade at your own risk.
I believe we will see Gold continue to push downside all the way down to 1240.00 to 1230.00. We may see a pullback before another strong push downside, but we have also broke a very strong key level. If we seem to keep rejecting, we could very well see Gold just dive bomb downside.
Look to sell the pullbacks, very simple & clean cut. Market structure has also...
I see sell pattern on Gold. So i opened sell order on 1313.66 SL near 1321.50 because gold can make last higher correction.
TP1 - 1308.50 RRR - 0.7
TP2 - 1305.60 RRR - 1
TP3 - 1297.50 RRR - 2.1
TP4 - 1277.00 RRR - 4.76
I do not hope that Gold will quickly reach TP4. But it really can and we need to know potential.
And if gold and USDJPY has negative...
Respected followers, as we can see that on last Friday Gold has rejected long term trend line, which indicate for bearish signal. Further more at the time of closing on friday, US Dollar was strong which indicate further high in value.
Gold moves below the daily pivot for today, and forms a triangle pattern after the break down on Friday. If the price does not break up the daily pivot then the chance is to continue down to the first daily support
-Open short positions if...