Can gold 'handle' this?

We reached the second border of the cup now a distribution phase followed by a strong correction back to the 200 MA and into the blue box has a high probability. If this scenario plays out then we have a healthy setup for a third impulse wave off the chart!


*DISCLAIMER* I'm new to chart analysis since November 2019 and this idea is only for the purpose of sharing ideas -> NOT investment advice,
therefore any feedback from aspiring traders and experts are more than welcome.

Always keep in mind not to enter a trade to soon and remember to take profit along the way.
Stay safe, stay profitable & may the odds be forever in your favor ^^