Okay, guys. So far Gold was very good, only the last trade setup gave a little headache with a 10$ higher move, giving a pretty decent GoseBumps because of a heavy position which is not right. No matter what system or holy grail you have, the market will move out of frames because it has none.
What now?
Timing... Since Gold exceeded 1464 and its extension 1468 but could not manage to travel to 1482 we need to watch closely now. Watch closely at 1439, if we pass that and 1435 we can make it to 1417.3 which is a key transition. Break of it will lead us to 1399.6 and the break of 1399.6 will give us 1386.
BUT I don't think that this is the one. I do believe we could get a slow-going move down, but not far. I would suggest you put a buy entry above the H which is 1474 because if it starts to make the move up, it will be a 1-3 day up going and only then we will start to look for real sells.
Trail your stops for now, but don't be too tight. Depends on Timing, how fast we hit subs and their extensions, that behavior is the only thing that can tell what's up.
Remember if the sell we have at 1463 turns out to be the right one, the down move will most probably double your account.
Thank you for having me here!
All the best.
What now?
Timing... Since Gold exceeded 1464 and its extension 1468 but could not manage to travel to 1482 we need to watch closely now. Watch closely at 1439, if we pass that and 1435 we can make it to 1417.3 which is a key transition. Break of it will lead us to 1399.6 and the break of 1399.6 will give us 1386.
BUT I don't think that this is the one. I do believe we could get a slow-going move down, but not far. I would suggest you put a buy entry above the H which is 1474 because if it starts to make the move up, it will be a 1-3 day up going and only then we will start to look for real sells.
Trail your stops for now, but don't be too tight. Depends on Timing, how fast we hit subs and their extensions, that behavior is the only thing that can tell what's up.
Remember if the sell we have at 1463 turns out to be the right one, the down move will most probably double your account.
Thank you for having me here!
All the best.
Comment:
Most probably guys it is time to load up metals. Both silver and gold. On both put pending entry for buy above the tops. The move can be pretty big.
You see what happened after the last transition cycling I described. We didn't even get to buy ( at least I didn't )