Gold on Monday 6/15/2020
On H4 we can see how price reacted to the resistance. it formed a double top pattern for a nice sell opportunity. I notice gold like to formed double tops all the time. Some are long term, some are short terms. Can the market continue to drop? of course, it can. Can the market retrace to the upside? of course, it can. Our goal is to be patient enough to take full advantage of the market flow.
It hasn't shown any bullish momentum signs yet... so we want to keep an open bias for situations like this. I'm not gonna lie. I missed the sell-by being too stuck on 1 type of bias.
Clear signs of the buyer's weakening in strength.
It hasn't shown any bullish momentum signs yet... so we want to keep an open bias for situations like this. I'm not gonna lie. I missed the sell-by being too stuck on 1 type of bias.
Clear signs of the buyer's weakening in strength.
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