Look at this chart.

With panic selling happening and profit-taking already taking place, the main question now is whether gold will make a major retracement during the February session.

Many traders have been asking me this question.
But for now, I can’t give a definite projection yet.
We need to observe the market structure for at least 3 new daily structures in the new month before we can determine whether this is just a retracement, or if a bearish movement is starting to dominate the market to stabilize gold prices.

There are several factors that could push gold to correct its structure with a solid drop. One of them is the renewed confidence in the new Federal Reserve appointed under Trump, which could potentially strengthen the USD again.

The chart above shows what happened in 1980 a massive rally followed by a big retracement, before continuing its bullish rally afterward. #XAU #XAUUSD #XAU_USD #XAUUSD❤️