Hi Fellow Traders,
Please see previous chart idea for further details.
I believe we are going short now at the top of this trading range. We'll be experiencing an ABC pattern. I am wary that there's a potential of a bottom side breakout which gives added/higher probability to an overal correction on GOLD (we still do need to break the major trendline of course, but it adds more steam for a potential break in the future).
For now let's just play what's in front of us, being this trading range.
Price may or may not come back up to the extreme to retest the top of the Trading Range for the B Leg.
Please see previous chart idea for further details.
I believe we are going short now at the top of this trading range. We'll be experiencing an ABC pattern. I am wary that there's a potential of a bottom side breakout which gives added/higher probability to an overal correction on GOLD (we still do need to break the major trendline of course, but it adds more steam for a potential break in the future).
For now let's just play what's in front of us, being this trading range.
Price may or may not come back up to the extreme to retest the top of the Trading Range for the B Leg.
Сделка активна:
Can scalp profits down on this A LEG and then re enter on another short at the end of the B Leg...
Oor continue hold all the way down for a possibility of getting stopped out by the B leg or not. The length of the A leg down may have an effect on the B leg up height. Obviously, the more we go down, the more traders will sway towards the short side and will "hold the fort" for higher prices, but you just never know.
Oor continue hold all the way down for a possibility of getting stopped out by the B leg or not. The length of the A leg down may have an effect on the B leg up height. Obviously, the more we go down, the more traders will sway towards the short side and will "hold the fort" for higher prices, but you just never know.
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Please LIKE this chart analysis and FOLLOW me :D Thanks! <3
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Looking for 3 waves down on the 15min to end the A wave.
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However far it wants to end up :)
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^ down* xD
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Just in case i've got this count wrong and/or the C leg of the previous move up hasn't completed, be wary of another test up top here and then the start of the new A leg. But i THINK i'm on track here.
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Most likely failed breakout and completing our A-B legs
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If it's going to fail the breakout we need something here.
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A lot of wicks at the top indicating there are bears pushing this down/rejecting price.
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Not strong looking bear bars.. but lets see how it goes. I must go to sleep, take care everyone. Care for the breakout or failed breakout. Play accordingly.
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15 min will give a stronger indicator
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Goodnight for now ^_^
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I would pop in a short here:
