This is my final update to the long trade on Gold I have been tracking. We got the bounce exactly from 0.886 as indicated in my previous post and we got an approx. 1.7% move but it failed to go any further.
Although the setup is successful as we have already got 2+ % bounce earlier from it and we were expecting the type 2 bounce form the harmonic would give us a better bounce, but it turned out to be a dud.
So Now I am looking at price action as indicated in through the sketch. If it fails to breach and sustain above the turquoise line, we will go down along the path.
Keep in mind this long was always meant to be a scalp as the trend is down and this setup was part of larger short setup, I gave from 2052 early last month. I will keep an eye on any new longs possible along the downtrend and will post it. Most likely My next long setup would be when we will hit the purple line at the bottom of the chart which is multiyear S/R trend line.
Please boost and follow me here to get notified about my pre planned setups.
Although the setup is successful as we have already got 2+ % bounce earlier from it and we were expecting the type 2 bounce form the harmonic would give us a better bounce, but it turned out to be a dud.
So Now I am looking at price action as indicated in through the sketch. If it fails to breach and sustain above the turquoise line, we will go down along the path.
Keep in mind this long was always meant to be a scalp as the trend is down and this setup was part of larger short setup, I gave from 2052 early last month. I will keep an eye on any new longs possible along the downtrend and will post it. Most likely My next long setup would be when we will hit the purple line at the bottom of the chart which is multiyear S/R trend line.
Please boost and follow me here to get notified about my pre planned setups.
