I still see a bearish movement on Gold because it failed to break the strong resistance above which is around 1830 price level,
and it gave a wick rejection at the resistance which made a bearish impulsive move to the downside,
Im seeing a H&S Pattern forming and price about to pullback to the neckline,
expecting to create a bearish flag pattern before a continuation to the downside.
Extra confluence :
50-61.8% Fibonacci
3-4 Correction by using Elliot Wave Pattern
Minor Resistance around the neckline as well as 50% fib
and it gave a wick rejection at the resistance which made a bearish impulsive move to the downside,
Im seeing a H&S Pattern forming and price about to pullback to the neckline,
expecting to create a bearish flag pattern before a continuation to the downside.
Extra confluence :
50-61.8% Fibonacci
3-4 Correction by using Elliot Wave Pattern
Minor Resistance around the neckline as well as 50% fib
