the_sunship

Gold - Short (part 2)

Short
the_sunship Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
ABC Retrace should be finished here. Slightly past the .618 which is typical for Gold. I expect a larger wave down starting tonight/tomorrow. 1500 area should be the first target - good luck!
Comment:
Weekly Bearish divergence on gold (silver as well)
Comment:
This trade idea has been invalidated. 5 waves up for gold is probably an impulse, not a correction after all. Same goes for silver. Can't win them all......
Comment:
90 percent retrace - maybe a B wave, with the big C down next

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