Interesting Weekly and Longer term out look on GOLD
Whats up my Trading view community, my apologies for not getting this out to you all sooner :-o We May have a Has a Super Sniper entry potentially.... any WHO What a Week we Had I believe we went 2-0 on shared trade ideas this week but i'll have to go back and check, their were some great set ups i shared with my team that i hadn't had a chance to share with you all and that was a CAD/JPY Buy that was a very sniperish set up and looked very similar to this Gold set up, the only difference i see between gold trade and this trade was we had CAD/JPY Creating a Falling wedge after the increase in value before correction lower and again before breaking up to the upside we had a nice wedge created and then price action broke out of it with the release if the news event that occurred this morning!
So about this Gold set up... this is what i'm seeing... on the higher time frames we have has price action creating higher highs and higher lows over the course of some time, and we are not getting any additional or significant confirmations in my eyes that would signal a potential end to this rally... i see price coming for the .286 on the fib retracement where we are additionally holding a Daily 50% imbalance coming off or near an OB with the Confluence of the uptrend broken to the upside price consolidated above before coming back in and testing out the bottom of the channel ( i believe this will be the last touch of the bottom channel before making a parabolic rally in the days/weeks and even months to come (first target on this swing would be Any Area you are Happy with :-) you see my analysis can be used as a potential guide but i'm not 100% sure as we create Higher Highs we don't really no where price will find resistance now do we? (how can we know something that has never occurred before?) <--- My point exactly
So about this Gold set up... this is what i'm seeing... on the higher time frames we have has price action creating higher highs and higher lows over the course of some time, and we are not getting any additional or significant confirmations in my eyes that would signal a potential end to this rally... i see price coming for the .286 on the fib retracement where we are additionally holding a Daily 50% imbalance coming off or near an OB with the Confluence of the uptrend broken to the upside price consolidated above before coming back in and testing out the bottom of the channel ( i believe this will be the last touch of the bottom channel before making a parabolic rally in the days/weeks and even months to come (first target on this swing would be Any Area you are Happy with :-) you see my analysis can be used as a potential guide but i'm not 100% sure as we create Higher Highs we don't really no where price will find resistance now do we? (how can we know something that has never occurred before?) <--- My point exactly