Our plan in case of a bearish scenario on GOLD / Update
Today we will create a new post based on the Short setup we will be waiting for in case of a bearish resolution in the descending channel.
a) The main structure of the current situation is the Descending Channel; we are working inside that structure
b) Inside the Descending channel, we can see a relevant support resistance zone
c) Currently, the price is on a compression between the current corrective structure (yellow dash-dot line and the upper trendline of the descending channel)
d) IF we have a breakout of the current situation, we will wait for a corrective structure (ABC pattern), and after that, we will trade towards the lower trendline of the descending channel
a) The main structure of the current situation is the Descending Channel; we are working inside that structure
b) Inside the Descending channel, we can see a relevant support resistance zone
c) Currently, the price is on a compression between the current corrective structure (yellow dash-dot line and the upper trendline of the descending channel)
d) IF we have a breakout of the current situation, we will wait for a corrective structure (ABC pattern), and after that, we will trade towards the lower trendline of the descending channel
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