Gold bounced up after crashing on the first day of 2022.

This presents an excellent opportunity to take short positions, following this scheme:

Since there is a three-wave pattern (ABC), where wave A is the selling pressure seen last January 3, investors can open short positions up to the 50% retracement level of 1815. Set stop loss to 1827, and take profit on the breakdown of 1798.

This strategy is based on the price action and stop hunting methods.

Good luck and have a nice day!