GOLD – Long term downtrend to new lows before retest!


Today’s break lead to a 4 hour session to see what the hell happened!

Obviously exited long and went short! – the importance of trading rules!

We appear to have had the retest I was expecting!!!!!

Found it

 

This corrects the count to


Found it Recount W-2 to M-4

And gives us the new long term channels shown below! (Red is Weekly Channel) and in accordance needs to make new lows before we will see new highs.

Good long term short – confirmation would be a break of W-1 retest failure or a tight stop at today’s highs!

Found it Weekly channel Big picture

 

Am working through other charts following yesterdays DAX break out.

Marc

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One Response to GOLD – Long term downtrend to new lows before retest!

  1. Pingback: How the DAX on 3 December at 11:24 confirmed a long term bull market. | MAPanalysis

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