GOLD : WILL IT CONTINUE ITS BEARISH TREND AT 1228 ?

The gold price can still be considered in short term bear market if the resistance level 1234.30 is not broken. A possible harmonic pattern could be found as shown in graph, and at point D, there is also the FIBO Extension 100.0 (AB=CD), and also FIBO Retracement 78.6, and a broken support which turned into resistance. So we could wait a short opportunity at level near 1228-1230.

TRADE IDEA :
SELL AT 1228-1230
SL : 1235 OR 1237
TP : 1208, 1200

Yorum:

A very bad NFP results make the down trend to be not plausible, wait and see for a possible long opportunity