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acaitrader

Bulls arn't absolutely screwed yet.

Long
Gold Futures (COMEX:GC1!)  
acaitrader Updated   
COMEX:GC1!   Gold Futures
Trend Analysis Chart Patterns
2
1
trendanalysis chartpattern
Hypothesis 1 is that we expect to see a bounce off this support and hit resistance above and then break down under the support.

Hypothesis 2 is we break down, we wait for it to come back up and short 1270 area down.
Comment:
If you long SL is 1262 in hypo 1 with a profit target of 1280 and 1287 if you are scaling. 1st target is a 1.25x Risk vs Reward 2nd target is 2.13x risk reward.

If you short on hypo 2 then your risk is a SL of 1280 with a target of 1255 and 1250.
1st target is 1.5x risk reward if you short at 1270 retest and 2x + on the second target and beyond.
Comment:
1st target filled. Trailing the rest of the position up.
Comment:
1300$ you are welcome guys ;)
Comment:
2nd target filled at 1288
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