I had been previously looking for a higher level to add to my overall short position, but price just didn't manage to get to my preferred target.
That said, price is now reaching an area of interest to me, and where i'm looking to add to my short position, these will be at previous shorter term recent high at 133.682, then at the 61.8% = 134.285, and if price...
I'm currently long from a fair bit down, and price is nearing my sell target, when done, then i'm looking to reverse that position and go short here at 0.619 level, probably at 0.6182.
This is a longer term trade (couple of weeks) where i'm looking for price to attempt a new low below previous low shown here at 0.55093.
Refer to chart, i'm expecting price to move lower into the area as shown, this move would equal wave c=a, stops can be placed very tightly here given that price can't go below the shown line, even by one tick, as that would invalidate the overall bullish chart layout, add allowances for the trade spread.
Although price yesterday came down and touched the 1st line area which was the 78.6% line, and right on the point and bounced quickly off of that, i'm not convinced enough to open that long trade just yet, as i feel we may have lower to go here. I have shown an orange line down at the 128 zone as a possible area of interest for me. It will just be a matter of wait...
SP looks to be setting up for a shorting opportunity, i'm currently long from the 2465 area, and looking to close off my position approx. 1.5 ticks below the shown top, this area is where i would be looking to open my short position, with my target being the CME limit down level as shown, prices may vary dependant on the charting software your'e using though.
Here's my initial look off yesterday's low. I'm looking for this 5 wave pattern to play out in somewhat as shown on the chart. However, the low must remain intact. Let's see how it plays out over the coming hours / days.
Gold moving lower, currently short, key levels for move down as per the chart. looking for price to stay under 1582 as we move lower towards the 1536 area, then a pullback towards the 1597 area then a move lower towards the 1510, from there we should see a part retracement of the overall move from the high at 1704.
Looking for price to reach down to the equality that C = A which would be at 1640.13 area.
61.8% of the overall move is at 1616.64
161.8% in the C leg measures to the 1611.85
Don't want to see price down here at 1593.06 area, as we could go lower still, and therefore a longer term top may well be in place if we break through the 1563.02
Sliced through that 61.8% level, so next area of interest is at the 78.6% - 83.3%, i'll look at that level when it comes to see if it offers any real support, but it would need to stay above the 90% line for me, any lower, then price might go through the previous low. Given the possibility that a hard brexit occurs then how low can this go, that's the ?
This bounce off the previous support area, Monday will be decision time.
Should we get above the 1237 and close, then we could see this go to the 1278, from that point we may see it go down.
Stop at 1244
Been watching this for a few months.
I have placed at fib on this and was watching price, this afternoon i started opening shorts given that the 50% fib looks to have been rejected.
Initial target area at the shaded area of between 1220 to 1210. I'll be looking at that level for some additional follow through, and should this occur i'm looking at the next level...