A small pullback on gold is preparing and giving us a very nice sell setup.
A good entry would be between 1290.00 - 1295.00.
TP1 1277.00
TP2 1267.00
SL above 1300.00
If price rushes up and goes above 1300.00 before starting to retrace we should take care as it could also be a bigger retracement than we expected.
We bounced from Fibo .50 from our last impulse which could also mean that we are preparing for a bigger impulse.
I believe it is more likely to go down but do care before you enter. Wait for the trendline to break.
We are expecting a flag so you should really notice easily the breakout of the trendline and the fall.
A good entry would be between 1290.00 - 1295.00.
TP1 1277.00
TP2 1267.00
SL above 1300.00
If price rushes up and goes above 1300.00 before starting to retrace we should take care as it could also be a bigger retracement than we expected.
We bounced from Fibo .50 from our last impulse which could also mean that we are preparing for a bigger impulse.
I believe it is more likely to go down but do care before you enter. Wait for the trendline to break.
We are expecting a flag so you should really notice easily the breakout of the trendline and the fall.