MGC1! And we got a break from the TL, but 3359 held strong as a resistance level.
Right now, the rules are simple but complicated at the same time.
- Price has reached an acceptable level for another wave down towards our bear target. For that to be confirmed, I'd like to see this mini trendline i created to break as well as the last higher low at 3332.
- For the bullish scenario, i'd like to see price to hold the mini TL and break through 3359 towards our bull target. I'll assume we are done with the retracement once we take that 3388.7 - 3400 range and hold.
I might get back to making videos to share the analysis, since I have 2 different scenarios that could be playing out on gold that I want you to be aware.
I hope we all had a good monday! See yall tomorrow.