Strategy
Sell Gold at $1715. Stop at $1729 and target at $1690
After hitting a low at $1689.21, price has made a recovery higher to $1714.70. Price is capped by the Fibonacci level 50% and if it comes to be capped at this level, it is likely to be heading lower to test the low of $1689 again before moving lower to $1674
MACD is still bearish and hinting of more price declines. Stochastic is turning up but looks weak. Combined together, this rally could be a corrective rally and another test of the low is likely.
thank you for the sharing of insights
You are welcome. Hope you and others will start to share your insights as well so that we can have a 2 ways flow instead of just one dimensional.