Here is, on gold market everything goes well, and, indeed retracement is not over yet. But, we've got new inputs that we have to consider:
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Currently we're coming to the moment where we agree to conside long entry. This is 1468-1470 K-support area. At the same time, take a look - retracement takes a bit different shape of greater AB=CD pattern, which OP stands below K-support level. Now recall our initial AB-CD pattern that we've talked about. It's OP stands inside the K-area around 1470.
It means that best way to enter - wait for 1470 "yesterday OP" reaching and stop grabbing below "B" point. It should happen somewhere inside the K-support area, then take position, but stop has to be placed below "today's OP" which is 1467. Gold has to touch it before reaction on support area.
Ultimately you could wait for "today's OP" directly, but here you meet the risk to be without position as it could be fast spike down and you could miss the fill, then action could become fast. But, I'm sure that you better know how to manage your portfolio. This is just common thoughts on current situation and position taking tactics.
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