Two possible path of Gold
Updated
Previously i posted an idea about reversal from 4h trendline. It turns out that gold still continue to fall down until it touch 1900 which is a .382 fibonacci line.
From this movement i think there is two possibility which is continue the bearish movement hence align with falling wedge pattern (black line) until .500 or .618 fibonacci line and then make a reversal.
OR
Directly make a reversal and retest the 1933 resistance again.
Personally i think it will continue to fall down until .5 and then make a reversal. So i will make a short term short and then wait for the reversal.
From this movement i think there is two possibility which is continue the bearish movement hence align with falling wedge pattern (black line) until .500 or .618 fibonacci line and then make a reversal.
OR
Directly make a reversal and retest the 1933 resistance again.
Personally i think it will continue to fall down until .5 and then make a reversal. So i will make a short term short and then wait for the reversal.
Trade closed: stop reached
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