Buy setup is still intact. The best buy would be if we break previous L 1260 downwards as we could then more easily turn around and start going up. If the first move is up to 1272ish that could be another short-term sell. I have an entry already open from 1274.5 sell with BE and TP is 1260. I am looking for a break of 1260 downwards that would be nice.
Pending Long entries 1257 - 1254 and then 1284.00 Note that I will not use an SL for 1257 n 1254, so if you plan to enter long at these levels manage SL on your own.
Good Luck.
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Sell at 1274.5 hit BE. Pretty tricky now. This upward move broke the tendency level.. that means after a pullback which is happening now gold should continue upwards anyway. I keep my pending orders in place.
@VRShaiju, Improving my gambling skills and drinking Vodka brah!
TheZabisyu
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@VRShaiju, Gold trading has always been a red&black for me! <3
VRShaiju
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@TheZabisyu, Cheers..! How is the weather? Freezing?
TheZabisyu
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@VRShaiju, Yes here it is freezing. I am bout to hit Coral Springs in couple days and stay there for a while. so my guess is it will be a little warmer.
MidoAshraf7
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buy now or wait
fhsk2001
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Do you expect another return to 1275 spot from the current level?
TheZabisyu
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@fhsk2001, I expect Gold to Finally take off because it is super late and I start to worry. 1275 doesn't matter to me for now. Well, 1274 means a break of tendency pivot happened on today's intraday levels, so that could lead it more and more up.
But I want a break below 1260 and hit 1254-1257 before any up! Have to wait and see.
fhsk2001
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@TheZabisyu, Thank you. So we expect to go down from now on and retrace at 1255-1257 level.
TheZabisyu
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@fhsk2001, Well that may not happen, it can start to do it faster. For that, I have pending order 1284, higher but still an entry good enough.
But since EU is leading Gold now, it broke the previous L and if it goes up, I would be way happier. So Gold still lagging though could break the L 1260 and go up as well.