Early stage bull. Buy dips. $11.8k next key decision.
Short term top , needs to fill out with volume. Likely to see profit taking. Personally I wouldn’t short, but that’s an option. Look to rebuy / scale in below the 361.8% fib all the way down to 261.8%. $407
I’ve charted my views on gold for a long time. Price got quite close to the 161.8% extension move effectively from the top of the IH&S to the bottom. From there we’ve not pulled back and tested the 127.2% extension twice with it holding. This is a good area to buy and look for the next leg higher (1600). Below 1470 invalidates and it will move back to the 100%...
Very clear gap fill and quite a good solid backtest on this 2hr chart. There re lots of gaps much higher on this chart and some potentially very big targets but I’m only focussed on the next one which would be the 161.8% extension of this present move up at 315p-320p
Broken out from the distribution area and now moving up through an area where price rapidly fell. Almost a gap but not quite - very thin volume & the advances upward towards the 1350 area could be quite swift.
50% retrace from the recent high but more importantly 35p represents the breakdown and break back line in the sand for me. We should see this extend powerfully from here much higher. See notes on chart for targets.