As seen in my last Analysis prices moved as expected even tho I didnt enter at the top zone. Still the Setup is in place and I just had to shift my arrows slightly to the left to see how accurate it is fittign. It even mathches with the fiv retracement. By that means the next signal appears to be a short down to the overall Weekly Supportzone.
If you showed patience so far, you didnt take the fake out short that didnt reach its TP just shy. (Daytrade was an option to be fair).
Why the fake out happened you ask? To take liquidity and shake out longs.
Whats next: We prepare for a second fake out, but above the blue box area. On a strong reversal whick with candles coming back into the blue box, we take...
We had a significant parabolic rally in comex gold from 1820 level and made an all time high of 1981.. during the entire move time we made a continous 9 green candle followed by red on the 10th day.
Now if we get such continous green or red candles on any time frame, its generally due fr a correction,, if we doesnt get on 10th look fr 12th candle..