GOLD MAY RETRACE. HERE IS WHY!

1 Okt 2019

hey traders,

I am and I was among those traders, who was skeptical in a further exponential growth on gold this autumn.
And finally selling volumes have been accumulated and we see a strong bearish breakout of key structure support.

Our bias clearly remains bearish and there is a lot of space to go lower,
however, what is worth paying attention to is the equal measured move formation and
slowing momentum on a lower timeframe.

for this reason, there is a high chance to see a retracement to a broken structure level,
and then, most likely, more sellers will jump in and we will see a bearish continuation to lower structure.

our first significant level of support will be around 1446.

Adjust your trading plan accordingly, good luck!

*Please, if you want more ideas on gold, support this idea liking it and leaving a comment, thank you!:)

1 Okt 2019

Nota

Very good bounce! Now let the market calm down

1 Okt 2019

Nota

Thank you for supporting the idea!