Gold is still Bullish. We stole some cash from him already. Hopefully, he is not mad for that as we steal more, but not too much as we can get in Jail.
Don't know about you but I suggested to close the shorts ( Pyramid Principle ) that we had from TOP - Friday at 1240ish because we can have a bounce up to 1247, and sure enough it bounced giving a chance to re-short after taking profit.
Friday at 1247.xx my new short was triggered, I assume Gold will screw around with it as always seems that it is still in Circus.
Target still remains 1225.xx I will take off 50% at 1235.xx and 50% at 1225.xx
We have nice bullish accumulation for last 2 weeks and still with new April data accumulation stays, and gold is pretty bullish, but we have one problem.
In Bifurcation Diagram we have now one new root in the diagram that can cause bullish problems. If gold drops all eyes open on 1226 and 1218 level. If 1218 broken I assume gold is visiting 1191.
Safe trades. Trading is dynamic so that means situation changes rapidly, today 1218 means a lot later it means nothing, so the situation can change as it goes.
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Please remember that April is one of the peculiarly dangerous months to speculate in FX markets especially Gold. The others are January, February, March, May, June, July, August, September, October, November and December. Please be careful!
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If Gold breaks 1250 upwards then target ( a must ) is 1257. So basically what I want to see is Break of 1250 and drop without reaching 1257. I think you know why. Take care and play safe.
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Remember the first move thing? We have a new month, so the first move in this new month set's the trend/sentiment.
An alternative view is Move up to 1262. My Short entry is at 1247 so that would be 15$ DD, that I can handle easily.
If we do move up, my second entry will be at 1257, and 3rd entry at 1262. If we do reach 1262 right away in this new month then I think the Drop in gold can be a lot bigger afterward's than just 1225. If we do move up, we have a new pyramid principle trade again.
Booya!
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By the way gold gave a signal on Friday to reach 1233. That adds up to safety for our sell. Let's see how it works out. Cheers
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Can we have Thor's hammer.?
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### So basically what I want to see is Break of 1250 and drop without reaching 1257. ### Not sure will it happen, though, meanwhile, have a 2nd entry there as stated above.
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Great that I closed Pyramid principle trades on Friday and cashed in.
The alternative view is in play and my 2nd entry at 1257 is successfully triggered, and hopefully gold goes more up and trigger my 3rd one too. New Pyramid, what can I say, personally I am enjoying this!
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Since the monthly first move is up the fall later can exceed 1225 to 1191.
I love this situation.... it's like a bomb with a timer. Pumping, pumping , feeding himself and then BOOOOOOOM let's drop like a mother f...
See you soon bro
TheZabisyu
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@ValtsVladimirLiepnieks, u da man!
kidbroge
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Was short, then I liquidated after I read that seasonally April is a very positive month for PM. Waiting on The NFP numbers on Friday for confirmation of this up move. Thank you Bruno I enjoy reading your posts.
MSFXpro
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what is your 3rd entry ? is gold goes more up to 1272?
TheZabisyu
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@sadeghm9, 1262
MSFXpro
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@MetalCruisers, thank you ... so we can sell from 1262 or 1260 with the sl 1264 ?
TheZabisyu
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@sadeghm9, I don't know can you sell, depends on your experience level and engagement rules, I am just sharing my setup, also I don't use SL so where you put your's is totally depending on you.
MSFXpro
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@MetalCruisers, ok thanks .. in my elliot wave analysis , it show that it's in 4th wave ... if it wanna go to 5th wave the first target up is 1272 ... but if it has not completed the 4th wave it can go down to 1235 and 1225 as you said .
MSFXpro
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@MetalCruisers like i said , it reached 1272 .
Ligho
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Wow. you are using a Pyramid and Thor's hammer in the same the idea. This should be epic. lol
See you soon bro