As long-term market traders and investors, our job is to always be prepared for and adjust for any fluctuations the market may throw at us, so that we can either profit from the curve or minimize any losses. This is what I do by setting up a high-risk, low-risk hedging trade against our key sell trades.
We are still bearish in the medium term, but with gold rebounding from the $4,024 “support zone” and rising 3,600pps, I would look for a “bullish corrective triangle” as a hedge, before gold drops to $3,800 again.
⭕️Gold bounced from the strong support area.
⭕️5 Forming the sub-waves (A, B, C, D, E) in the shape of a triangle.
