TVC:GOLD is still in an uptrend and the current pull back is a turning into a good opportunity to buy especially with all the volatility in the markets. We should look to buy cheap in the Red Zone and hold until in the Green Zone. When we make good headway in the Green Zone we can sell for profit. This is not for day traders. Red to Green is likely to...
Shorts opened after gold bounced from 1366 trendline resistance, currently sitting at around 1338 - TP @ 1300 - will be looking at a buy if it bounces from support
Look at my previous idea to see the daily
1.Support broken Resistance valid
2.Daily trend line breached (Major validation)
3.Opposing level breached by Bulls (Major validation)
4.Possible 1st take profit 1248, 2nd take profit 1237.09, 5.Bollinger band below Resistance zone
6.Downtrend trend line valid
The closing of a Pinbar on Friday evening has thrown a slight spanner in the works for the feeling I was getting towards Gold as up until that point it was looking very bullish. The Pinbar close does normally represent a bearish reversal coming shortly, however on this I am not too sure. My sentiment towards Gold still remains Bullish as I believe it can travel a...
1.Daily resistance in control
2.Support broken Resistance valid (Opposing zone breached) (Strong Indication)
3.Profit margin 1:4 (could hold if there any sign of reversal
4.No major support until 1295.00
5.Breach of Daily/Weekly timeframe Upper Bollinger band strong indication of overbought price (strong Indication)