We see that gold is in a uptrend since
August 16th. Price has alo been respecting our ascedning channel. We have been steadily uptrend. Our current pattern is showing a bullish flag. Our weekly candle closed as an bearish engulfing candle. I am in shorts and holding until we reach the 1279.53. Looking for further downside so I can swing buy from the -27 fib area which is highlighted Blue which is also a 4th touch of our ascending trendline the top of our trendline. This trade becomes invalid if we break at the 4th touch ascending trendlin and I'll possibly look for shorts.
August 16th. Price has alo been respecting our ascedning channel. We have been steadily uptrend. Our current pattern is showing a bullish flag. Our weekly candle closed as an bearish engulfing candle. I am in shorts and holding until we reach the 1279.53. Looking for further downside so I can swing buy from the -27 fib area which is highlighted Blue which is also a 4th touch of our ascending trendline the top of our trendline. This trade becomes invalid if we break at the 4th touch ascending trendlin and I'll possibly look for shorts.