BEARISH STRUCTURE FOR GOLD
This has been overlloked by me and may be a little belated to act unless there is a healthy retracement.
But I can see a perfect ABCD (in red) within a larger mirror
In blue there is a structure that some sources referred to as a Nen Star or Nan Star pattern. Again, I am not too hang up on names.
There is also some healthy divergence to add to this outlook.
Of course, hindsight is always 20/20, but it is nice to see how recent top was precisely within Blue pattern's PRZ.
Traget zones marked in green are for Red ABCD patttern only. Until I see some momentum to the downside I won't put my faith into blue structure. Should some evidence appear that we are heading lower, I will mark up possible targets.
Happy Trading!
DISCLAIMER: Trading is a risky business and there is possibility of losing all your trading capital and more. This post is not an advice or an instruction to trade and does not gurantee profitable outcome. This is for informatoin purpose ONLY. Choice to act on this information is your own and hence responsability for outcome of that choice is also your own. I am not liable for any adverse outcomes.
Update status
But I can see a perfect ABCD (in red) within a larger mirror
In blue there is a structure that some sources referred to as a Nen Star or Nan Star pattern. Again, I am not too hang up on names.
There is also some healthy divergence to add to this outlook.
Of course, hindsight is always 20/20, but it is nice to see how recent top was precisely within Blue pattern's PRZ.
Traget zones marked in green are for Red ABCD patttern only. Until I see some momentum to the downside I won't put my faith into blue structure. Should some evidence appear that we are heading lower, I will mark up possible targets.
Happy Trading!
DISCLAIMER: Trading is a risky business and there is possibility of losing all your trading capital and more. This post is not an advice or an instruction to trade and does not gurantee profitable outcome. This is for informatoin purpose ONLY. Choice to act on this information is your own and hence responsability for outcome of that choice is also your own. I am not liable for any adverse outcomes.
Update status
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