Secondary test will lead to a shake out... Inertia steel above 50 on the 4 hour confirming that the uptrend is intact...
1 hour already oversold with heavy accumulation on increased negative momentum leading to a secondary test...
After it surplus will happens ... waiting for the 200 ema to show support is an smart decision since limit buy orders sit there and the specialist need to finish his job... However they can also scale up their position but most of the time they follow this system to fill large market orders.
1 hour already oversold with heavy accumulation on increased negative momentum leading to a secondary test...
After it surplus will happens ... waiting for the 200 ema to show support is an smart decision since limit buy orders sit there and the specialist need to finish his job... However they can also scale up their position but most of the time they follow this system to fill large market orders.
Comment:
Gold is strong, the weekly momentum is getting stronger changing gold direction in the long term...This is the time for gold , but is also a time where precaution is our best friend...I still believe in the big pullback...However the 50 Ema show strong support in the 4hours but for gold to show it is true intentions the pullback is needed. Stop loss will be triggered and the cushion theory will send price higher. Patient is the key.
Trade closed: target reached:
$1350...
