Hello everyone,
I believe less and less in technical analysis ...
After spending more than a year staring at charts and drawing lines, I realized that the stock market has an alternative to my moves every time.
We can say that we have a correction, a flag that is responsible for the continuation of declines.
On the other hand, we have higher and higher lows...
I have a down trendline which price is approaching. My first take/bias on GOLD would actually be to short if price gives me my usual confirmation. Then i should sell to my nearest trendline which has been holding as a support/resistance lately. probabilities. Lets see
Price has recently broken my trendline resistance, so two things are involved now.
1. Price turns my trendline resistance to a support to buy to my next trendline: My B Set-up
2. Price breaks down back into my trendline resistance and it holds: My C Set-up
