Not buying top of a rising wedge gold could drop $100+
4hr time frame shows a wedge, in which the top traders sold out, and new buyers are now bag holders. I'm looking for gold to drop $100, and potentially form an inverse head and shoulders. My target is low 1600, to potential bottom of the channel $1500 very easily
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daily view
still bearish w/ a bearish wave analysis
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1640 needs to hold for the bulls, to potentially form an inverse head and shoulders. I will be monitoring this level for support, if it give away, then the bottom of the channel for Gold around 1500 is the target
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bearish ab-cd pattern on daily
