Gold BearGold FuturesCOMEX_DL:GC1!PrinciplesofmathprobThe most important factor when drawing or trading trendlines is the 'real' market structure, that is, the prices actually traded rather than mathematical projections. As seen in this diagram, the major swing low is well below current prices, and the downtrend is effectively pointing toward lower levels. Given these circumstances, I believe price will ultimately end up lower and that there will be no support near 5000. In any case, I cannot buy at this price, and I wouldn't even consider it because I don't a stop that I can afford. If price gets close to 4500, I will have an important low to hide my stop below, instead of trading in the "middle of nowhere". Furthermore, where is the original point of demand? It is not around 5000, but rather close to that low. That is why I think this potential support will fail and the immediate trend remains lower.