A possible cypher pattern in the hourly chart. Price is near the top of the regression channel plus near 38.2% fib retracement of the longer time frame. Expecting the highest of 1221 before pulling back to the completion of the pattern.
As the MACD looks to roll over in TY1 and the rise in yields looks to resume, gold is in a bind given the two have a notable inverse correlation!
Based on previous posts, all of which have hit their targets, harmonic analysis uncovers yet another trend. This one, although unthinkably optimistic, still needs to be discussed. Should prior prior support at 1223, end of April and May, be breached. AND, minor peak at 1236 in November be exceeded, then upward momentum could bring bulls to 1282.5.
Close above $1213 and the 50% Fib has retaken. RSI looks to have a clean break. Further strength in yen and dollar weakness will drive higher.
This is my scénario for now. the trade is not in will see how it devloppe.
Jan 17 16:00 AEDT Detail is within the chart. I prefer the Upper sell zone around $1220 so the strategy would Short x 1 1215-1212 Short x 3 1222-1218 Then when it falls Short x 1 1215 -1212 again Stop 1226 ... Ouch! TP#1 Buy 3 x 1200-1205 TP#2 Buy 2 x 1180-1185 Remember you are all adults. Do your own analysis
Orders: SELL 1207.0 SL 1212.0 TP 1180.0 SELL 1223.0 SL 1228.0 TP 1180.0
withe the fed minute today we will be on a vibe of interest hike so for me the red scenario seem more probable than the blue one . 1200 will be a good resistance and my num ber is still 1095 to 1075 for a secure entry 1200 is shortable and 1032 is buyable
My analysis of GOLD using Fibonacci, Gann and Tesla theories shows GOLD held at a critical Fibonacci level and is setting up for a 25%++ run to near $1400 by July 4th~14th, 2017. In reality, the move could be much higher given the range of Wave 1 - with an overall objective near 1674.
Looking for an excuse to get short. The sell off on the dollar today not going to help as yet. Buying interest below 1,140
gold for the next year. de places i will be very aware. yellow square.
Orders: SELL 1193.0 SL 1195.6 TP 1165.0 SELL 1208.0 SL 1215.6 TP 1186.0 BUY 1165.5 SL 1160.0 TP 1186.0 BUY 1149.5 SL 1140.0 TP 1186.0
Goldie is trying find her legs after a long fall. We like the pullback trade to see if she has any legs to her. We will buy into the zone from 1170 down to 1158.