I made profit short and long. Reached my minimum goal and will go sideline now. Retracement 38-61% was the goal. I am out at 50% Retracement. 61% will be very difficult. Also comes together with strong resistance by ~1977.
A. This entire down move was just a Flat correction and we will go for new highs. Gold did this crazy strong correction...
I was out too quick for shorts but that's fine... That drop is massive. The move is NOT OVER! This is a non-confirmed analysis. Very risky (risk of catching a falling knife). Never the less the message is clear. There will be a retracement of 38-61%. I am a bit worried of the overheating sold situation. So, there could be another minor low after short...
- Stoch (8,5,4) hits 20
- Price reached around 1920
- Price action since high is corrective/sideways
If Buy gets triggered:
The new H4 high needs to be a new high
or correction will continue!!!