We are nearing to the weekend. This week really turned out to be the week of the bull.
We are near to 40$ profit this morning. Resistance levels are approaching.
1. First the target price counted from the right translated double bottom pattern at 1304$. ( The right translated pattern will be important later what I'm doing and why.
2. Later the 200 SMA on the 4hrs chart : 1305,8$.
3. And last the resistance at the false swing : 1313,715. A lot of bulls will get out at this level as they were trapped at that false swing...
I just want to prepare you that I'm going to jump out between 1304 and 1314. I want to see what's happening with the currencies and stocks at these critical gold levels.
Notice that he FIBO 38,2% retracement is at 1297,88. We just hit our head into that level in the last hour...
LONG FOLLOW THROUGH - Holding the longs
We are near to 40$ profit this morning. Resistance levels are approaching.
1. First the target price counted from the right translated double bottom pattern at 1304$. ( The right translated pattern will be important later what I'm doing and why.
2. Later the 200 SMA on the 4hrs chart : 1305,8$.
3. And last the resistance at the false swing : 1313,715. A lot of bulls will get out at this level as they were trapped at that false swing...
I just want to prepare you that I'm going to jump out between 1304 and 1314. I want to see what's happening with the currencies and stocks at these critical gold levels.
Notice that he FIBO 38,2% retracement is at 1297,88. We just hit our head into that level in the last hour...
LONG FOLLOW THROUGH - Holding the longs
Comment:
Comment:
Price has dropped from the FIBO 38,2% .
DOn't like today's price action. It's running out of steam.
DOn't like today's price action. It's running out of steam.
Comment:
Let's see if UJ drop in the night can give as that bounce into the green TP rectangle.
Comment:
Not so happy with the price action here in gold, too...
AFter a break out of the flag on day 4 we shouldn't act like this. The new highs are smaller and smaller.
I will take profit on half of the gold position before the CPI and Retail sales news.
AFter a break out of the flag on day 4 we shouldn't act like this. The new highs are smaller and smaller.
I will take profit on half of the gold position before the CPI and Retail sales news.
Comment:
Closing 50% of the gold position at 1293,767.
Comment:
I will use a stop for the rest of the position below the flag at 1284$.
Trade closed manually:
These are not the droids I'm looking for.
Closing all gold longs at 1299-1300.
Closing all gold longs at 1299-1300.
Comment:
No shorts in gold yet. I'M selling EurUsd though.
Comment:
Now you know why I wasn't happy with this rally.
Comment:
This doesn't look good at all:
Comment:
We are turning down from the 200 MA on the hourly chart.
Comment:
I'm short in gold : will update on the daily chart.
