Gold has a tendency to retrace all the way to previous support levels before taking swift moves up
If S&P500 continues to be bullish at this point buying interest for gold should reduce allowing for a brief move down
SPX would then have had several days of bullish action and need a rest, encouraging investors to rotate out of stocks and into gold XAUUSD
If timing is right this would push gold price past $1330 and onward to next logical resistance at $1350
Despite no overtly bearish signals on the chart, if the idea is incorrect then invalidation point is close to have low risk trade
Fractal action
If S&P500 continues to be bullish at this point buying interest for gold should reduce allowing for a brief move down
SPX would then have had several days of bullish action and need a rest, encouraging investors to rotate out of stocks and into gold XAUUSD
If timing is right this would push gold price past $1330 and onward to next logical resistance at $1350
Despite no overtly bearish signals on the chart, if the idea is incorrect then invalidation point is close to have low risk trade
Fractal action
Comment:
No S/R flip, plan was back on from then
Gold: Invalidate