The 3 possible targets if the channel could work: 1307 or 1348.( Intermediate highs) Also the pennant's height is a possible target : 1328 , but this target is little bit subjective, we could count it many way.
We should not come below the 50 EMA (1243 today) or break back down into the pennant...
Comments
mater
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Unfortunately the top Pennant failed and with huge volumes! It's difficult/risks to trade within the pennant channels without a tight SL, especially when it's close to a decision point.
mater
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second pennant forming on the top! i think its an uptrend for next 2-3 weeks atleast
iammathawee
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So sad, I entered long position last night and lost much money. Maybe my enter point was not a good one. T_T
chartwatchers
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What was the enter point? Did you close the position?
chartwatchers
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We are near to yesterday's high. It's just starting now...
iammathawee
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position was closed by SL. I'm waiting for open long again lol
mater
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chartwatchers
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DON'T TRY TO SHORT GOLD !
In this second rally a lot of people will try to short it based on indicators (RSI overbought etc.) don't be one of them !
In this second rally the longs will get the money from the shorts. Shortcoverings are taking the price higher and higher.
And before the end of the rally the late comers will buy , then we will sell...