Weathers been pretty good in London today which is nice for once.
2000 area has been very difficult for bears to break, sitting on a triple bottom atm, was fortunate to grab some long positions today at 2002 closed at 2014.
Does seem to be that we are in a falling wedge. Price is respecting the wedge as we were not able to break out and met some rejection around 2015.
I do expect a break out from this wedge over the next couple of days to the upside, however i do believe we may be visiting 1993 very soon if 2000 is broken. There is a possibility we can get a wickasorous down to the 1988 area.
Between 2000 and 1988 areas are buy zones for me, with strong support. i do expected a retest of 1993 and possibly 1988, if they are rejected successfully and we break back above 2000-2005, 2018-2020 should be a breeze.
Im not a fortune teller, this does not mean it will happen however this will be my strategy for gold this week.
Go to the gym if you haven't been already, if you do not go to the gym, go and get yourself a membership asap.
Feedback is always appreciated
All the best
2000 area has been very difficult for bears to break, sitting on a triple bottom atm, was fortunate to grab some long positions today at 2002 closed at 2014.
Does seem to be that we are in a falling wedge. Price is respecting the wedge as we were not able to break out and met some rejection around 2015.
I do expect a break out from this wedge over the next couple of days to the upside, however i do believe we may be visiting 1993 very soon if 2000 is broken. There is a possibility we can get a wickasorous down to the 1988 area.
Between 2000 and 1988 areas are buy zones for me, with strong support. i do expected a retest of 1993 and possibly 1988, if they are rejected successfully and we break back above 2000-2005, 2018-2020 should be a breeze.
Im not a fortune teller, this does not mean it will happen however this will be my strategy for gold this week.
Go to the gym if you haven't been already, if you do not go to the gym, go and get yourself a membership asap.
Feedback is always appreciated
All the best