Gold will do what it good at to trap buyer and seller. When price above 1800 buyer will target to 1850 and above then it dump. When price go below 1800 seller will target 1750 and below to 1720 then it start to shoot to trap the seller. So better use a break even and tight stop loss for every entry. Weekly and daily close price give us sign of the buyer present....
Personally I think gold still need a correction around 15++ @ 16++ before continue its uptrend. But, I will not underestimate December ( busiest retailer buying gold month ) which is one month before Lunar New Year. Maybe 1760 is level to collect some buying order. Who knows. Better give space to the tiger to jump first. However price still need to cross...
My previous analysis about good swing short setup around 1870 have give so much reward. But I didn't expect price will go straight below 1800 without being reject at 1830 zone. However this is gold. Very Unpredictable like my wife. That's why they all like gold. But you will know they better after period of time. For this current weekly chart situation,...
If gold want to be manipulate short again. I think current level is a good zone to find sell entry point for swing setup. Entry must be complete with SL and break even if the entry start to gain profit. First TP at 1835-1816 zone and after that price will start to retest 1853-60 zone ( Entry buy for scalping or BE ) Buyer will think price is respect the inverted...