today i want to bring you my view of gold . It's been in a recent uptrend and it's creating new highs but i think this could be a bigger retracement of the downtrend in the big picture (weekly).
By using a simple and two Fibonacci levels i've managed to create a small reversal zone where price actually is right now.
Here we have two different , a and a .
The is in overbought condition.
All these conditions together make me think it could be a nice shorting setup.
If you want to share your view, feel free to comment below.
Otherwise, see you in the next chart!