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I will begin with XAUUSD gold chart analysis for December 3rd.
This is USDJPY 30M chart for yesterday.
It was long position strategy. And the route went from A->B strongly.
The strategy was to close with no position or stop loss if the price goes down below route...
Some nice movement today after US PMI but still looking to push above resistance to make gains. If we can't push higher then the only way is down...
Waiting for the break of the trend line to buy or sells the other way - still neutral.
No news tomorrow so eyes on Trump and China.
As predicted last week (see below), gold found some relief at 1456 and is now ticking upward. If the resistant at 1472 is successfully violated, the precious metal will attempt to touch the upper channel of the bullish falling wedge.
GOLD is steadily coming closer and closer to month's low.
I will be waiting for a reversal formation within the underlined orange area to buy the market
Stop will be strictly below the zone.
Target levels will be 1458.0 / 1466.0
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There is still that possible lean to a return to 1400, but there are to many turning points on the way, after going south not north as predicted, (see previous analysis), a touch of 1458 is now on the cards, a return to 1400 is not as I see as yet, if on the short term keep an eye on 1458 and 1450 goes lower go for a 1400 short, if onthe long just hold out for the...