GOLD had a nice little pump from below the 200 week MA and the support low to print a strong SRP Shakeout Reversal Pattern to trap shorts in that area.
And now it has pumped the question is whether it has any real legs or if it was just a short squeeze.
Currently at the 0.382 retracement that is a very common reversal point for continuation patterns connecting motive structures.
With no bearish candles as yet I'm going to hazard a guess that this is a top but we'll see how things play out.
Not advice.
And now it has pumped the question is whether it has any real legs or if it was just a short squeeze.
Currently at the 0.382 retracement that is a very common reversal point for continuation patterns connecting motive structures.
With no bearish candles as yet I'm going to hazard a guess that this is a top but we'll see how things play out.
Not advice.
Commento:
Get these TV clowns 😂.
Commento:
Its starting to look like a major rally can be happening in metals and so I no longer see it reversing in this area. I'll make a thread later.
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