GLD hits the wall precisely again

After yesterday's post, it moved lower.

As I posted, it is being traded with a short position.

After that, how far will it drop?

This is important.

I also posted in the community, saying it would drop toward around 4065.

Good work everyone. GLD is likely to move down to near 4065 (the white line). Whether it rebounds there or breaks through will depend on the time of day and the shape of the candles at that moment.

Subsequent movement

How did we know it would stop here?

As you can see, I am not using any indicators at all.

Where will it head after this?

From the current position, it cannot be determined yet.

It will depend on the movement after the evening.

Time management is also required in the analysis.

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Targeted at intermediate level and above.