Only shorts here are scalps for now
Please remember this is only 1 hour time frame analysis
In the hourly time frame we have seen a Blue Vector candle at the base of the short scalp. Target was hourly 50 ema so we were out before it flipped and turned Blue. Especially since the candle that took us to our target was a Red Vector.
Now what does this mean? well for the hourly at least,price is likely to continue up on this rally, or at least try and retest recent highs.
Now what that means for people trying to catch the "mother" short? It may just mean entry will be at a higher price.
Since 110122 we have 5 short scalps one long scalp and currently the beginning of what may be a long for a bit based on Blue Vector at base.
We are still overall Bearish I guess even though the chart is huffing and puffing as if it's seen Red. (Bullish)
It is a case of how far up it can go before dropping. For this reason we keep minimum Sell limits on Gold at a time like this as there is a chance it can blow past all of them in an afternoon, activating and stopping them out as no one can stop Gold when its pumping hard.
Just an update is what we bring I guess, and currently 1823,25, 27 and 28 have come good so far for short scalps.
With this Blue going on we can see Gold maybe getting cheeky and doing a pump on a given day/week to take us to some of our higher entry prices.
For that reason we are long until we see purple or we see some more Green Vector recovery of Red at higher level even on smaller time frames.
We are still looking at the following levels for short scalps and still firmly believe that one of them will send price down below 1700 again with the right conditions and timing:
1830,1833 - 1835, 1840, 1845, 1847, 1850, 1856, 1864. (look out for the 200+ pip override fake out that happened in June and November)
Any fake out override to the upside is still a great opportunity to ride longs but just know anything that is manipulated,especially must come down!
Keep your short scalps disciplined until one of them isn't a scalp anymore and keep your long entries as low in the chart as possible, don't be greedy on Gold and trust your analysis and ignore the noise.
Good luck guys!
This is not financial advice ad should be taken with a pinch of salt
In the hourly time frame we have seen a Blue Vector candle at the base of the short scalp. Target was hourly 50 ema so we were out before it flipped and turned Blue. Especially since the candle that took us to our target was a Red Vector.
Now what does this mean? well for the hourly at least,price is likely to continue up on this rally, or at least try and retest recent highs.
Now what that means for people trying to catch the "mother" short? It may just mean entry will be at a higher price.
Since 110122 we have 5 short scalps one long scalp and currently the beginning of what may be a long for a bit based on Blue Vector at base.
We are still overall Bearish I guess even though the chart is huffing and puffing as if it's seen Red. (Bullish)
It is a case of how far up it can go before dropping. For this reason we keep minimum Sell limits on Gold at a time like this as there is a chance it can blow past all of them in an afternoon, activating and stopping them out as no one can stop Gold when its pumping hard.
Just an update is what we bring I guess, and currently 1823,25, 27 and 28 have come good so far for short scalps.
With this Blue going on we can see Gold maybe getting cheeky and doing a pump on a given day/week to take us to some of our higher entry prices.
For that reason we are long until we see purple or we see some more Green Vector recovery of Red at higher level even on smaller time frames.
We are still looking at the following levels for short scalps and still firmly believe that one of them will send price down below 1700 again with the right conditions and timing:
1830,1833 - 1835, 1840, 1845, 1847, 1850, 1856, 1864. (look out for the 200+ pip override fake out that happened in June and November)
Any fake out override to the upside is still a great opportunity to ride longs but just know anything that is manipulated,especially must come down!
Keep your short scalps disciplined until one of them isn't a scalp anymore and keep your long entries as low in the chart as possible, don't be greedy on Gold and trust your analysis and ignore the noise.
Good luck guys!
This is not financial advice ad should be taken with a pinch of salt
Hourly time frame trade