The reasoning for my sell limit is because I believe gold will fall after it reaches the 1830 resistance area. That area has held strong 4 times so far, with the next touch of the area, price will be outside my symmetrical triangle, which I can consider a break & retest of the triangle.
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USDJPY looks like it will break to the downside.If that does happen, gold will keep being bullish.
The triangle broke down several times already, and even test back. I think this ascending trend line is not valid anymore...but 1830 will be an important resistance. If break through, 1860 is the next stop, and new recovery high.
Mihai_Iacob
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I m bullish... Let s see Thanks for your analysis
Charles-OW
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@OptimoomFX, How come you're bullish?
khanservice1
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I think chances of 1750 level is high. 1830 is huge, huge level of resistance at the moment.