I am observing gold for quite a while now. Long term I am expecting a big bearish correction before a bigger bullish move. What I've traded recently is this setup on the 15m chart. I took a short position with 1:3 risk reward, based on the following things: 1. On the 15m we had a bullish move to the highs followed by a bearish engulfing and then continuation of...
I expect a pullback to the 50% of the candle entry and then a expected further drop
Chart explains it all... So far every move has been caught. Send me a message if you need help.
Since yesterday, I've caught 220 pips on gold, and now my projection is for another 300 pips+- downmove.