Today we triggered a big SHS pattern on the charts, dollar is surging and has an active inverse SHS towards 111 region.
Target for the gold pattern is around 1500 area which is also coinciding with previous resistance and near Fibonacci retracement. That would be a great place to open a good RR trade long, but for now this is short for me. Unless some crazy manipulation, we should be dipping and bulls should be panicking especially when we reach 1500 level, which would be great for new buyers who want to take old holder's gold on the cheap... Just some ideas, nothing is certain good luck with your trades.
Target for the gold pattern is around 1500 area which is also coinciding with previous resistance and near Fibonacci retracement. That would be a great place to open a good RR trade long, but for now this is short for me. Unless some crazy manipulation, we should be dipping and bulls should be panicking especially when we reach 1500 level, which would be great for new buyers who want to take old holder's gold on the cheap... Just some ideas, nothing is certain good luck with your trades.