This is the week I been waiting for, just because it will be one of the most profitable weeks in long time.
Wednesday We will be turning on High Frequency Robot before FOMC and I will be opening positions right before the EVENT.
Let's take a look at Monday.
In last Ideas I said wave 6 has turned in our Favour.
Wave 6 TP1 is 1305 , meanwhile wave 5 50% level is 1303. Now they two come together to suggest possible turning point. And just in case there is Second one. But anyway wave 6 now is very strong in favour!
Although for Monday I am suggesting to go on Sell from 1311.
It is market heading point, it is MID point from Swing area.
But be ready for Gold to turn around at any time, and if you are Biased for Sell long time, you should re-think your investing.
There is one point that is CRITICAL and if Gold breaks it I will think before I enter Buy then.
But while New static cycle is not entered these are the targets Gold should see till the end of this year!
They become invalid if 1290 broken.
I will be looking for sell from 1311.
But be cautious, when Gold Pops, you won't be able to react on that as it will be fast. ( Based on market behaviour and static cycles given to me )
Trade with Care.
And be ready for Wednesday, I will be going live on Periscope and Calling the Dirrection minutes before FOMC even happens, although This time it is more than sure it will be long against USD, but who knows what cann happen, that;s why to be sure we use HFTM.
But still it should go lower.. Decide yourself guys!
No more longs waiting down there, I have enough Long positions.. just waiting to get in profit..
Before FOMC Gold can be tricky.. Expect spikes back and forth.. It has to kick out and stop out as many as it can, before the big move either up either down..
Now we could see Gold reaching Towards daily level, that works just like MHI.
The thing is, Current swirl is at the same place where wave 6 sell Pivot H is.. If this region is not broken upwards, no hope for daily bulls.
Let's see how this develops.. while not above Current Swirl, it is Bearish.
Let's see what happens now.
This point had to be reached as it is every day " Heading towards daily " the name says it... Let's see what happens now.
Test current swirl? Go downn?
1315.. Pivot H from Bear teritory..
1316 current swirl ( swing H on daily )..
Down from there?
Still no hope while 1316 not broken..
Still Holding Hedge sell open.
If your trading setup is suggesting Sell you can do that after this is tagged.
Either we break out to daily bull zone, either we go down again from now on.
Take care guys.. see you later!
For example on this FOMC event I will not be working with TP level. If it will be long by HF machine, I will consider keeping the position open not for 10$ move but more.
And no it does not use any of things stated above.. and I cannot disclose on what it is built on, but for sure nothing ordinary or standard you or someone else knows.
I took fantastic profits on my personal accounts from this spike up!
Because how You use it is, you set the TP, but you take the trade with BIG lot size.. you can afford to risk.
TP is used so you can Pocket the money in case it turns around.. because manually it can be difficult.
I had 20 pip TP on that.. It moved 30 I guess, but still.. profit from that 20 pip TP was enormous!
Could you look at this setup (https://goo.gl/vY1R10). What do you think about it? I am waiting for it for a long time. Have had dreams to see it this week but seems like Gold is in a Flat now. Seems like not all the dreams comes true. But anyway, will see soon. Good luck to all of your trades and best wishes from my side.
Your target's are good, wait for FOMC and let's see. FOMC will ge fresh Midterm direction to USD, maybe after FOMC getting out of LONGs will not be a good IDEa, and we can hold them Longer. Cheers man.