Hey guys, last week I was bullish on gold, but after the recent PA I changed my bias to short.
-First, the price formed the so-called "Bearish Flag" formation, this is a pattern that is a trend continuation and the TP is the duplication from the initial leg.
-Second, looking at the DXY I am more for a strong dollar for the near future judging by the recent candles and the strength of the momentum.
I won't be rushing to enter a position because gold and DXY are at a very indecisive point right now, so I will wait for a good correction that will at least give me a good RR
-First, the price formed the so-called "Bearish Flag" formation, this is a pattern that is a trend continuation and the TP is the duplication from the initial leg.
-Second, looking at the DXY I am more for a strong dollar for the near future judging by the recent candles and the strength of the momentum.
I won't be rushing to enter a position because gold and DXY are at a very indecisive point right now, so I will wait for a good correction that will at least give me a good RR