It's not exactly playing out how I anticipated in the King's order idea.
At the end of the week we got the 2 green candles after a back test of the trendline.
The perfect entry was at the trendline but our last Friday or Monday entry is also in green.
We are on day 5.
Indicators
The 10 and 20 EMA is crossing over soon and we successfully closed above the 50 EMA on day 5.
MACD crossed over.
RSI just entering the overbought territory but we know in a daily cycle advance it can be overbought for days.
TSI just raising above the 0 level.
I think everything is ready here for a nice rally and a higher high.
The next resistance is at the previous breakdown level : 1.084. This also the neckline of the forming inverse H&S pattern. I think this daily cycle advance will break above this level. This will support our gold rally.
LONG follow through idea - I don't suggest a new entry before FOMC Wedesday.
At the end of the week we got the 2 green candles after a back test of the trendline.
The perfect entry was at the trendline but our last Friday or Monday entry is also in green.
We are on day 5.
Indicators
The 10 and 20 EMA is crossing over soon and we successfully closed above the 50 EMA on day 5.
MACD crossed over.
RSI just entering the overbought territory but we know in a daily cycle advance it can be overbought for days.
TSI just raising above the 0 level.
I think everything is ready here for a nice rally and a higher high.
The next resistance is at the previous breakdown level : 1.084. This also the neckline of the forming inverse H&S pattern. I think this daily cycle advance will break above this level. This will support our gold rally.
LONG follow through idea - I don't suggest a new entry before FOMC Wedesday.
