FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
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Gold is Weak Although Many Analyst predicting it Bullish but Accoridng to My view Its going to 1030 like emoticon
Sentiments Are at extremes and Biasing Bullish : Price actionist also Bullish : Also genuine Bullish Divergence and Uptrend all are favoring Gold bullish behaviour But The LAW of Attraction is important for us & We know better what are the better Odds to play.
Yesterday price stops at 61.6% retracements at 1098 & Reversed.
We Still believe that this upper leg is corrective and should end here 1098 or even if unexpected go up then should end near 1104
We are Favoring the Flat correction concepts here.
I think 1079 candle 4h close below is enough for us to believe and confidence about further declines towards 1030
We completed the diagonal already which itself is a impulsive pattern not corrective so its the confidence .
Trading recommendations :
We will stay patience and If price go near 1104 area and start reverse then we will sell with stop above 1108 and target 1080 first and then 1050 and final is 1030. Able to move stop quick down. And we can add further positions once 1079 candle close below happens. We dont want to go against trend as aggressive .. We will wait for behaviour change.
what's your recomendation until the price hits 1104? stay out? go long targeting 1099 ?
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