Beware Gold W formation is still in progress

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Gold is experiencing a reprieve to the 1943-45 price area but the complete bearish slope still have a potential extension to the downside into the 1904-8 area.
Here the sequences for XAUUSD

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ملاحظة

The mentions 1945 area wasn't strong enough and Gold managed to push to 1955 zone. Let's see if we have the actual retracement from that level:

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تم فتح الصفقة

Short from 1954.5 currently 1935

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تم إغلاق الصفقة يدويًا

I am out of my 1954.5. I book my profit in 1929. The reason is that the daily close is natural resistance. The downside trend line is still valid. I will publish a new idea once that new bounce from the daily close is more formed.