FX:XAUUSD   Gold Spot / U.S. Dollar
Gold notices a TrippleTop breakdown below the neckline of 1764. All is not well in gold . Time to wait before investing in gold . Can it retest 1563 levels which is its copy book target?
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All these trade picks are selected using technical analysis and price action (VSA MomentumInvest Trading Setup) and for my own trading purpose only. Technical indicators are lagging and may generate false buy/sell signals. Market is supreme and my views may go horribly wrong. Please don't consider these trade ideas as trading recommendations. You may consider it for learning or at max use it for paper trading. Strictly avoid it for trading using real money. I am not responsible for any kind of profit and losses arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades (or trade at your own risk).
Comment: A pullback is a market drop of 5-10% and is very short term
During market correction, market drops 10-20% from the high
Bear market occurs after 20% fall over 2 or months of fall

Going by above definition, Gold is entering bear market with correction of 20% from ATH. It notices a TrippleTop breakdown below the major neckline support of 1764. It has broke down below 50/100 DEMA and sustaining lower. It had broken 200 DEMA 2 days back, but after some recovery trading around this.
Comment:
Volume in last three weeks falling candles is worth watching. If all is well, who is selling gold? All retails? And institutions buying?

You can pretend to say anything. But volume never lies. Always look into the volume. VSA (Volume Spread Analysis) is the key when you are looking for long term.

I will never buy gold at this price structure. Let it correct or breakout again to take entry. #MomentumInvesting

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