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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