short to the 0.62 fib (filling the weekly imbalance, tapping the order block and retesting trend line that has been broken) before long term continuation to the upside
Gold idea - broke out of descending trend line.
**making sure to look for multiple confirmations before taking this one, as a head and shoulders pattern seems to have formed in the bigger picture**
Await clear break of 15m corrective structure before entering towards take profit levels.
(TP2 is 0.5 FIB resistance for long term downtrend)
**market is in long-term downtrend so be careful, get BE as soon as**
For this trade to be valid, I need to see a clear break of the black box. If so, it could be a quick and easy 40-60 pips towards 1.60000 support before a retracement to the upside.
Strong 4 hour candle breaking the 1.272 resistance which suggests a further move to the upside. Will be looking for a clear break and retest of the 1875 zone before continuing up towards 1900 level.
