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Is Gold (XAUUSD) going to make a Retracement? On screen analysis

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I have been keeping my eye on gold for a while now and I suspect that we will see a Retracement coming next week. The Counter Trend Line has been respected for more than two weeks now so it's just a matter of time before we will see a break of the Neckline.

Remember, Patience is Key!
Ghi chú
Even though there was a break of the Neckline Price didn't declined much further. I’m still patiently waiting... In profit ;-)
Giao dịch đang hoạt động
Trade is still active. I hope we will see a further decline this week. In the image below I drew the channel price is currently in.
[img]ảnh chụp nhanh[/img]
Ghi chú
Last Friday we saw a break out of the channel as seen in the image above. I will wait till the close of today if Price closes outside the channel. If so I will close my trade.
Ghi chú
Because I use the Weiss trading strategy I slightly altered my channel. See image below. From this point forward Price has to make a Lower Low, if not I will close my trade. Or if Price closes outside the channel.
[img]ảnh chụp nhanh[/img]
Ghi chú
Price have reached the next level of S/R! Still holding on...
Ghi chú
Price is heading to my Target Point <3
Ghi chú
I am thinking about taking my profits. Price is ranging and Momentum is turning up.
Giao dịch được đóng thủ công
Closed my trade yesterday, because Momentum shifted back up. Made some nice profits and will open this again if the overall Down Trend keeps intact.

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