GOLD Structured Breakout as Quadruple High is Holding

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GOLD has made a breakout to the upside, which is likely to be certified as a FALSE breakout as LONG because the quadruple prime is holding.

The Quadruple prime is seen on the chart because the robust resistance (blue line). We must be holding our shorts so long as the market is beneath 1800. Nevertheless, the structured breakout is gonna play out beneath 1790. The goal is 1776, the ATR projection low. Keep in mind that 1800 is a psychological degree so from an intraday perspective, breakout beneath 1790 might be nicely executed if bearish momentum kicks in.

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Cheers and protected buying and selling,

Nenad

 



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