I decided that I need to take side in the market and continue looking for the opportunity that prove the side that I take. For Gold, the impulse was to the upside and then correction occur, hit 50% retracement then bounce (monthly chart).
I use fibonacci to measure the smaller move start from the bounce and look at my long term monthly target.
Then I look on the lower time frame which is Daily chart and do the same with Fibonacci, I see market continue making higher high from the point it bounce on the monthly chart.
Below is what I see which support the long term view
As a short term trader, now I have my bias to be the bull and will continue look for long set up on 1HR chart. And the price right now is somewhat ideal to take a long trade.
I use fibonacci to measure the smaller move start from the bounce and look at my long term monthly target.
Then I look on the lower time frame which is Daily chart and do the same with Fibonacci, I see market continue making higher high from the point it bounce on the monthly chart.
Below is what I see which support the long term view
As a short term trader, now I have my bias to be the bull and will continue look for long set up on 1HR chart. And the price right now is somewhat ideal to take a long trade.