Gold has been in a corrective mode since early Sept 2019 , travelling within a descending channel.
Momentum appears to be contained to the downside , with the MACD averages located beneath the neutral line.
IF so, then enter for short
1. Enter - around 1480.
2. Stop - above recent swing high of 1514
3. Target - 1404 an area of support , which is also .382 fib retracement of the minor 3rd wave.
RR conservative at 2 .....
Momentum appears to be contained to the downside , with the MACD averages located beneath the neutral line.
IF so, then enter for short
1. Enter - around 1480.
2. Stop - above recent swing high of 1514
3. Target - 1404 an area of support , which is also .382 fib retracement of the minor 3rd wave.
RR conservative at 2 .....