Gold Roadmapping Idea

7 ביולי 2022

Last night I was looking for a 50% correction and continued downside. However, within the yellow box shown above, we just had orders accumulated and an impulse break down to 1735 area. We are having a bit of a pullback, but I would still be looking to short gold. We broke 1760 so a retest of that zone is possible, but if gold fails to break 1750 first, id short it back down to 1735-1740 area. I would only look to buy gold above 1772 if it were to break the accumulation we had in the yellow box. As always, trade safe.