TIMBERRR! GOLD ready to FALL out of the SKY!!!

GOLD Thesis

- Weekly: On the weekly gold market structure is currently bearish, with price below $1482 weekly zone. Last week candle had a long wick rejection off this zone for a 3rd week signalling bears want to push gold lower.

- Daily: On the daily it looks like gold is about to complete its correction phase with one more push up to $1482 major zone. From there we could see a possible 3rd touch of our descending trend-line which is in confluence with the 50%-62% Fibonacci levels. From that level we would like to look for shorts to next possible target $1453.

- 1hr/4hr: Now i am waiting for a small push into $1482 major level. If this level holds then we should expect to see a bearish rally to $1453 and beyond.

Сделка закрыта: достигнута стоп-лосс цена