2lalit
Long

MY GOLD POSITION STATUS (GPS) & REVIEW

FX:XAUUSD   Gold / U.S. Dollar
171 1 13
THE CLUE BUY ON DEPTH LOOK RIGHT, WHERE THE PRICE HAS BEEN TURNED ON AT 2016.10.10 ACCORDING TO TIME TEMPLATE.
From the chart above shows that prices are still moving within the period of overlap between the 231D or B (blue) and 231D or C (black). 231D Blue or B is the CONSTRUCTION AREA which will end on 2017.01.16 (min) or 2017.02.27 (max), where this construction would be likely to fail if the price closes below $ 1210 and in this chart shown that prices previously in the 231D Blue (A) always bounce at Fibonacci 0.382 ($1193/$1205).

On the other hand, 231D Black or C is a TEST AREA which will end on 2016.12.12, where the $1210 level will tend to be tested and if the price can be closed under $1210 then the next 231D or D is estimated to be a COLLAPSE AREA.

At least $1249 (0.382 Fibonacci level) must be maintained by the Bulls so that Bears can not test $1210 so it can be interprets that its the TEST AREA in 231D Black or C. Overall at least $1210 must be maintained by the Bulls until 2017.02.27 (max).

--- From The Desk Of Nubie ---
Hi mate,
Thanks for the explanation.
Great work!

Watch the possibility of a H^S forming.
For a nice trade??

Cheers Zlalit.
Reply
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