Has been waiting for it for almost a week ... Bullish crab just completed and I think it the right time to go long.
Disclaimer: Im only providing my own thought toward the market but not making any trade call. Trade what you see
Hit the like button if your agree with my idea and feel free to comment in a respectful manner if you have different view on it.
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currently 100 pips + SL moved to breakeven ... another free trade :) Good luck :)
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Updates on profit target. TP1 - 1244 TP2 - 1261 TP3 - can be above 1300 (unlikely but possible)
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Possible test at level 1225 support ~ anyway price just tested resistance at 1229 (a upside false break in 1 hour chart) ... be careful ~
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Just discover this baby here ~ Bearish bat ? Bearish Alt Bat ? Bearish Crab ? Pending for confirmation ... but chances of Gold going upward is higher than breaking new low ~
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Re-entered the market at 1219 ... 4 hours chart show some significant pull back after the market went through it support level ... Pattern still consider valid ~
Trade closed: stop reached
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AB=CD fall exactly on Fibo 78.4 ... Trade what you see :)
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sorry ~ is 76.4 ... Good luck :)
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If it break upside ~ it might be able to push higher then the D point ... Good luck :)
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Trade closed: target reached
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Next !!! :)
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waiting for a break ~ expecting upside break and profit target 1260. :)
Trade closed: target reached
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Next ~~ shorted at 1263.5 ... Good luck :D
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Reason I shorted Gold is quite simple, 1) Trend line resistance 2) Resistance zone 3) Fibo 61.8
Profit target I set at 1190 (might adjust further) is because I expecting Yellen to rise interest rate although the economy data is not good ... Good luck :)
Trade closed: stop reached
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Waiting for another sell setup ... Next !!! :)
Comments
robus
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I am following this closely
LeeFuGuo
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Good luck :)
DanielAnthony
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very nice analysis, thanks for sharing!
LeeFuGuo
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thanks and you are welcome :)
kaythi
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how do u think about fomc ?
LeeFuGuo
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no idea ~ but expecting worst data from US tomorrow on their unemployment claim ... :)
kaythi
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I am also hope to be like that
DanielAnthony
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dear mr Lee, why you expecting bad data ?
LeeFuGuo
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my above statement is actually referring to 26/5/2016 US unemployment claim and I get it wrong cos the data released is better than expectation.
I expecting a bad result because during that time, I have read some articles online and I think what the authors said is making sense to me. Anyway I forget which article I referred to. Normally I will just google the key words and read few articles to come out with my own conclusion after comparison.
DanielAnthony
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yes, sorry about that, last week employment data also very bad, forget to look at the time hehe