Gold has created some decent buy setup with this High Low Close today.
1312 ,1310, has become very strong when we look at daily swing trading.
Although we still have unreached target 1306 from dynamic cycle, it is possible it will not be reached, because of strong levels being at 1310,12 area.
Let's go by parts.
Daily market heading point is 1317, which is above Reversal point. And as well Market Heading point lowest point ( second red ) is 1312 , that aligns with 1312 0% base. As well wave 6 TP1 is 1312 . We are just at the bottom.
And gold didn't enter new daily dynamic cycle ( needed close below 1312 to do it )
Lets go further. Look at Temporary directions, Market sentiment, Trend identifier sentiment, S3 from Market Trend Pointer, look where they are. Breakout Targets, everything.
Current Dynamic cycle gate:
I can go over and over again and open each tab, but I don't see need to do it.
I am just sayong guys, that this is a decent buy setup.
If I am wrong, that's fine, but I cannot resist and don't buy here. I just can't.
Be prepared for surprise spikes and stuff, but dirrection should be clear.
Trade with care!
If it is 1.3179 it has to be read like 1317.90.
It's just not re-programmed, I don't have time for that!
Go for 1317, consolidate above 1315. Then break 1321, then 1331, and we should be good.
You can say anything you want, that is is bearish or whatever. The thing is I don't care what you say, I care what my setup that I have faith in is saying. And even if I am wrong, that's fine, I tweak my strategy and make it better.
It is how everyone should be working. Plan a trade, trade YOUR plan!
But it all has TP's around 12. from 15 to 12. It is not a lot. Let's keep going. We just need to get above 1315 and consolidate there.
We need MID to hold. So we don't even test that 1312,10 area anymore.
The problem is Wave 6 can send us down again ( :@ )
I didn't notice that to be honest, so I am sorry.
If you want clear safe buy, do it above 1321!!
But now we are in tricky situation because of wave 6!
I am sorry for not pointing it out right away!
So now we have to be carefull. MHI is decision point. Like I said. Close your buys, if you don't feel comfortable. We are above Reversal Point, but remember about wave 6. Suffer ends above 1321.
Let's see what Gold decides to do from here. Decides to go for TP2 from wave 6, or meh..on it, and go up as dynamic cycle ( daily swing is suggesting )
I don't believe in possible dump to 1306.. But still be prepared.. Gold is a monster.
While 1315,14 holds..
If reversal does it's job here, Bears can have problems.
No panic above 1310...
Possible TG 1306
12,10 still in fight for 1306 to be seen.
I don't believe it will Tag it, but be ready for that situation.
I am holding Longs, and I am placing limit at 1306, just in case.
Trade with care.
Taking a nap.. Chart wil be the first thing I take a look at once I wake up!
I opened hedge sell here guys. I still hold the long and will hold it.
If wave 6 takes it down to 1306, I have more buy waiting there.
It is stupid sometimes..
I hedged very fast, it's all good.
Go thru Updates on this idea and read!! I pointed out each scenario!
I even said you all who can't handle heat, close the buy in profit when it Taged MHI 1317.
I said you all that be prepared for wave 6 1306. I pointed out every possible scenario. Before you write me bullshit, show me what is on your table. Show some respect.
We will see Gold raly and you won't be able to react properly, and all your shorts will Stop out.
I hedged this trade. I closed Sell in Big plus, and my buy limit at 1306 is triggered.
Read thru the Idea and updates before you even talk.!
I will wait for Close price, but if this Low remains for today as 1306, Gold didn't enter new cycle.
Monday we hd falling DXY, why didn't you long gold? Oh because it was falling as well yes? babypips.com...
That's just me.
Anyway, I am not a holy grail. I just trade what I see.
Yellen is good, but still If techs suggests me to buy now, I do it now. 10-15$ dollar move up and down, doesn't require yellen to speak. But when she does, then yes, we will have some nice huge move!