My bias is short. Weekly price has not closed above 1.13
Leaving wicks to the upside.
From where the price is now there could be one more try from the bulls to break to the upside but I see 1.10 level being retested if bulls are the ever win this battle.
I would be waiting for a break and retest below 1.12 or price to retest 1.13 area for shorts.
I am liking all the rejections on the 4hr to the downside. There was a Daily bullish engulfing which was followed by a small pullback.
I am expecting 120.00 level to hold (Another test is what I am expecting) to go to my first daily target and my second of the weekly.
Last two weeks I have taken a break, really only taking one trade on gold. Which I am up 8%...
Once again we have here an ascending channel which usually results in some kind of drop.
Price has come up to my weekly resistance and I am expecting the price to magnetise to 1.10 level or the nearest supporting T/L.
Or it could just completely shoot to the moon. I think a lot of profit-takings is happening now at this level. I must still keep in mind that there...
Looking to add another position to this trade.
I am not in it as yet and I am waiting for the price to come back to this level it has found support at.
I will update if I am entered.
My first entry has 1% secured.
1750 level is a key level I will offload my positions