Gold got to a parabolic state and this is how highs happen and people get trapped. The current low that formed today is the top of the channel that we have been riding and touching for close to 3 years (what was resistance = now support). We took out previous swing lows and completed all upside objectives. Are we ready to form the right shoulder? I think so 1826-1797 ish area I will have my head on a swivel anticipating a right shoulder to complete within those numbers, Targets will be the 1520 band of support that was left naked after the breakout. Which was previous area of acceptance. Only in this area will I consider taking any swing long positions. Also note the gap area, after we created that gap is when things got out of control. Good Trading Kratrader.
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