Congrats to anyone who has been long gold and if you have now is the time to take profit. Overall I am bullish on the metal but its plain to see it needs to dip a bit and reset a base from which to continue up further. Three arrows on this chart point to a pair of highs and a low in b/w them that combined we can project Fibonacci timing points from that have served relatively well thus far as far as trend reversals are concerned and we can see that we are upon a 2.382 extension that will probably mark a dip that is already potentially happening. I would like to see pullback hold the upper 140s from which we can go long again.
@RobFlorio, I would strongly advise against looking for a specific price, a better way would be to look for a region like 149 to the low 150s for example and then go long as soon as the 8 day exponential moving average crosses over the 34EMA on a chart using 30-minute candlesticks
RobFlorio
⋅
@TNasr, u r right i saw that today, waiting for another dip today. mist it n sold my call. i mest up. think im waiting to buy. did i miss it?
RobFlorio
⋅
@TNasr, This iswhere i fall. now im stuck not sure, if i loss i dont know if im back in. like jumpy, you know?? how do you recover your loss?
TNasr
⋅
@RobFlorio, I cannot trade your account for you nor do I know exactly what you invested in. If you are in an options play and you have 20+ days to expiry I don't think you need to worry
RobFlorio
⋅
@TNasr, thanks. under stand, i sell in panic still. working on it