Waiting for gold to resume the uptrend ..the week of 11 Nov 2024

After making a new ATH at 2790.06, gold started pulling back and aided by the US election results and strength in the US$, it accelerated the down move. A short pullback and then on Fri, the bears continued the down move.
If this pulls back again to the 2700 region, taking a short would be tempting BUT
I believe that it would not be wise to fight the Gold bulls who have controlled this market for over 2 years.
2 major s/r levels (at 2604 and 2470 regions) await price and I will be watching closely for signs that the bulls are in control and then jump onboard.

This is not a trade recommendation, it is merely my own analysis. If you decide to trade this, you should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
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It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros