GC - Gold Short

29. Aug. 2016

Look what you see on the Chart.
What would you say?

P!

30. Aug. 2016

Anmerkung

Touchdown above the former support.
In fact, it's not the REAL support. If one understands the real HH & HL, then you know why. There was a so called DT (Double Top). A Low is only confirmed, when the former High is broken = at least a couple points close above.

So - target is at least the L-MLH bevor a bigger rebounce.

1. Sept. 2016

Anmerkung

There we go...starts to PB allready.

8. Sept. 2016

Anmerkung

Currently we face a massive resistance:
- orange A/R Set
- centerline (bue)
- block resistance from prev. price action

... from where short trades could be initiated.

My stops would go at least above 79, which is also the area from where
potential RiskReversals or BearCallSprads could setup with confidence.
Because if we look at price action on the chart, we can observe that
such harsh up- thrusts we had now, lead in a fall back because price
is running out of buyers.