GOLD has a tendency to range. The overall trend is upwards. In order to normalize the price back down, while moving upwards overall, XAUUSD has to move in a bearish direction to the bottom of the channel before resuming it's upward movement. Sell to 1266.00 region, wait for confirmation of the reversal and then buy long term up to the next resistance, using Fib lines as retracement guides.
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Bull Trap activated as soon as US market opened.
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Bearish price action confirmed. Beware of large retracements and pull-backs.