In this Chart the facts are, Gold has had havy resistance athe the CL's and the U-MLH, now breaking the most important, Big-Boy CL's again to the South.
Steam is blown in the wind and many probably getting hurt...again...
Longterm i see Gold far below 1100, not just at the CL .
...but this is just my opinion, no facts, just reading in the Espresso ;-)
It's a HGPN. But since HGPN rule is not a "hard rule from the framework" to judge as the others, i mostly take HGPN just the first time as a filter when markets approach the CL.
In this case, what the market is telling me right now is:
- Overall DT
- Mid Trend also down
- Flow stopped and turned on a dime at the U-MLH ...again
- and if you read the bars, specially the one that touched the U-MLH, it is a bar which closed very low to be a bullish one.
Allways appreciate your observation and comments Buddy, tnx!
#1: Time at mode long setup (outlined in Tim West's last publication) price above a cluster of old order flow
#2: Potential Elliott Wave count (implies a wave 3 advance might shoot from here)
#3: Mostly bears everywhere
#4: extra saucey Hagopian rule+uptrend fork (if drawn from my pivots below:)