{quote} It’s funny you say this cos I had the same analysis. As long as it don’t close below 4680 then it’s okay. The fact that it closed at 4892 which is around the decision zone then buyers can still take charge and we get to 5600 again. It’s not the first time we will see gold get a violent correction after an absurd upward momentum. Today’s was just a bit extreme but it was well deserved based on the whole week’s volatility
To me there are not coincidences, they have meaning and i always check them to find some future edge.
With time and experience i improve them or not.
No more patience to study all data...
But by what i already saw the pattern plays very very consistent, as long we have into account volatility of the week monday is rejecting.
that’s true, there isn’t a pure strategy but I think we can outplay the market. Think about it, market shed $800 in day, that was something they could have done in 3-5 days but they decided to do it within 24hrs, means that there is more to it. They know that a lot of retail traders will be caught in the whirlwind and many more will consider it somewhat a minor reversal or major correction, therefore a lot of traders will expect price to eventually reach 4300-4000, but I personally think it’s false. 
