Hey traders,
Even though gold is bullish the last 2 weeks,
I want to remind you that we are trading in a global bearish trend and the price is stuck within a major falling parallel channel on a weekly.
I believe that the next bearish wave will initiate after a bearish breakout of 1615 - 1623 horizontal demand zone.
Daily candle close below that structure will initiate a bearish trend continuation.
Patiently wait for a breakout and be prepared to sell on a retest.
Alternatively, one more structure for shorting is the resistance line of the channel.
You can wait for the test of that and look for shorting opportunities from there.
â€ïžIf you have any questions, please, ask me in the comment section.
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