As stated in last weeks forecast. Gold has been making lower lows and lower highs. Will this keep trending down? The probability of the monthly and Daily imb above @
$1770 - $1815 getting filled is highly likely. I will look for short term continuation long trades to this area. This was a petty corrective week on the HT's. I will wait to see how PA react to those...
Gold is looking very Nice!! POR POI area has been hit for me. Gold has been making lower lows and lower highs. The probability the monthly and Daily imb above @
$1770 - $1815 getting filled is highly likely. I will look for short term trade to this area. Remember this is the daily chart . This will happen over the next couple days or weeks. I think PA we could see...
If we can hold the red zone highlighted and trade above it we may be coming to 1760-1800 now on GOLD.
Most certainly we need to hold above 1700 to remain in a uptrend here.
Head & Shoulder chart pattern on a daily time frame.
The right shoulder has not been formed as of yet.
I'm Swing Trading.
First target 1280 followed by 1300 before i expect a drop and look to go bearish.
SL 1239
**Note
I haven't decided to add long positions only due to this possible factor (not my main charts/analysis, just showing the bigger picture)....
