Because of the daily close above 1899.17 price showed me its at a retracement point of the 50. fibonacci level. Waiting for the retest at 1910/1912 which is a big rejection zone for gold at the moment because bulls are not prepared to take positions at that price point. Gives me bias that its overvalued for the short term and the long positions which have been opened at 1875 last week have to be shaken out to create volatility to catapult on to new highs (1918-1920 next RS).
So I'm selling gold when we finish the H&S pattern on the 4h/1h charts and get a rejection at 1912. Let's melt to 1890 baby!
So I'm selling gold when we finish the H&S pattern on the 4h/1h charts and get a rejection at 1912. Let's melt to 1890 baby!