GOLD Short Term Interesting Development

17 Nis 2022

Hello traders:

I have been patiently waiting for price action on GOLD to develop into something I would like this see and capitalize on.
On the higher time frame, we can see a double tops and price reverse down from the all time highs.


Throughout previous few weeks, I have been discussing the possibility of price move back to the previous high to possibly form into a continuation correction.

Now, it seems price has indeed done that, moved up correctively within the ascending channel, top of the current structure.

The last thing we need to wait for, is whether price can commit to the downside, and formed further bearish continuation correction to valid this forecast/setup.

If price does not push down, and instead push higher and formed bullish continuations, then it will invalid this forecast, and no entry, no trade.

Thank you

22 Nis 2022

Not

27 Nis 2022

Not