FX:XAUUSD   Gold Spot / U.S. Dollar
SO THE DAILY IS SHOWING A BULLISH LEG AND IT COULD WELL BE THAT. HOW EVER, LOOKING AT THE MARKET STRUCTURE ON THE 4H, IT MAKES PERFECT SENSE THAT HAD A HEAD AND SHOULDER BREAK AND NOW THE RETEST AND HOPEFULLY A FOLLOW THROUGH CONTINUE. WHICH IS IN CONFLUENCE WITH THE 61.8 FIB THAT LINES UP WITH THE DESCENDING TREND LINE. THE STOP LOSS DOES ALLOW SOME ROOM. HOWEVER ON THE FLIP SIDE IT COULD VERY WELL BE A COUNTER TREND THAT COULD BREAK. BUT I AM FIRM WITH MY DECISION TO GO SHORT TO RETEST THE DEMAND ZONE AT LEAST.

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