Hi Guys,
I expect a reversal soon! Looking for a trade to the upside to test the orange line. Buy the breakout.
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Hola chicos,
Espero una reversión pronto! Esperando hacer un trade alcista para testear la línea naranja. Comprar el breakout (ruptura).
Carlos
Surprisingly after hitting the Invalidation mark Gold is moving up as previously expected.
Currently I'm out of the market and waiting for confirmation but this is indeed a very interesting situation.
Theoretically Wave 3 can not be the shortest, in this case it is shortest by 2-3 ticks, it seems that this small difference is being ignored by the market given the...
The GOLD market has moved north since second half of December last year. These increases are significantly less dynamic than previous falls, initiated by results of last year’s presidential elections in the United States and are moving within a growth channel.
Although, as a result of the last growth impulse, at the beginning of June this year market for the...
The GOLD market has moved north since second half of December last year. These increases are significantly less dynamic than previous falls, initiated by results of last year’s presidential elections in the United States and are moving within a growth channel.
Although, as a result of the last growth impulse, at the beginning of June this year market for the...
Gold seems to have reversed near the earlier mentioned invalidation level around 1241.50 .
As of now it seems to be moving for a Wave 2 retracement near the red support region.
SL is still to be kept at Invalidation level.
I will update further as this market progresses.
Gold looking to make the bullish move from here on, I earlier thought that the Wave C will progress as an Ending Diagonal however it has already moved into the target zone white box.
Also since the Wave 3 of C is smaller then Wave 1, hence the Wave 5 can not go beyond 1241.50 else this count will be invalidated.
I expect a turn from here on leading to new yearly highs.
GOLD LONG SELL .
Its has been on a down trend for several weeks and despite the retracement. we expect a weekly downtrend since it resisted on the weekly severally as illustrated on chart.
entry price in between PuRPLE line
TP1 ,TP2 given as labelled on chart.
Since GOLD has cleared out most of the Bears along multiple time scales up to 4 hours (IntraDay).
Its Left for DAILY RSI to hold support at 50. Which it has done for the whole week. The longer its held, the more legitimate it is. (Check yesterdays Buyers launching at this level)
This is inspite of all the pressure from DOLLAR buyers who want the greenback to be...
Our preference: position bought above 1272,00 with targets at 1282,50 & 1286,00 in extension.
Alternative scenario: in break of 1272,00, a continuation of the decrease will be envisageable with 1266,00 & 1261,00 in line of sight.
Comment: The RSI is supported by a straight up trend.
As per the count presented on the chart it seems highly likely that Gold is getting ready to head higher.
It seems that the current corrective leg down can take support in the 1255-1245 region and then the bullish Wave 3 can start, however if the market trades below 1245 and takes 1255-1245 as resistance then it is possible then we might be in some kind of...
