🔸Hello guys, today let's review 2 hour price chart for gold. Trading in well-defined range since late May, previously fake breakdown and throwback inside trading range in progress.
🔸Short-term expecting more gains in this market to complete the distribution pattern. Bears will likely target re-test of range highs / key s/r near 1980 usd, however also expecting a bull trap setup and fake breakout of key s/r and re-test near 1986/88 usd.
🔸Recommended strategy bears: short sell from overhead resistances once we complete the distribution sequence and also setup a bull trap near 1986/1988 usd. right now bears should wait to short the market cause we are still trading near range lows.
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