Gold Short - Major Confluence
Actualizado
Since the start of 2016 price has been inside a wedge, price is currently at the top of this wedge and thus provides a nice short opportunity. Price has failed to break the top resistance/trend line level, furthermore this area falls between the 0.618 and 0.786 fib extension zone. Stops should be placed above the resistance level. In my opinion this set up has 3 targets, the first is to the Green trend line, once this has been broken the next target is to the red trend line followed by the grey trend line.
Nota
Looking to take profit at profit target 2 (red line)
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