GC - Gold Short

29 ago 2016Look what you see on the Chart.
What would you say?

P!

30 ago 2016

Commento

Touchdown above the former support.
In fact, it's not the REAL support. If one understands the real HH & HL, then you know why. There was a so called DT (Double Top). A Low is only confirmed, when the former High is broken = at least a couple points close above.

So - target is at least the L-MLH bevor a bigger rebounce.

1 set 2016

Commento

There we go...starts to PB allready.

8 set 2016

Commento

Currently we face a massive resistance:
- orange A/R Set
- centerline (bue)
- block resistance from prev. price action

... from where short trades could be initiated.

My stops would go at least above 79, which is also the area from where
potential RiskReversals or BearCallSprads could setup with confidence.
Because if we look at price action on the chart, we can observe that
such harsh up- thrusts we had now, lead in a fall back because price
is running out of buyers.