Bottom line - I'm waiting on an entry signal to return to the uptrend.
I'm looking at...
It could very well retest the 0.382, which has been much respected and drop down to the red trendline from the daily chart.
Or we look for an entry signal at the 0.5 or 0.618. Also S&R near the 0.618 from the previous structure.
Tight stop loss and partial take profit...
Gold playing ball with the fib (0.382) at the mo and acting as support.
Macd with divergence signaling price dropping.
I'm looking for a bounce up off the trend line in the golden zone. I won't blindly enter. Will look for an entry on the 15min chart.