Loii
Short

UPDATED: 2 SCENARIOS FOR GOLD

FX:XAUUSD   Gold / U.S. Dollar
1038 3 23
UPDATED: 2 SCENARIOS FOR GOLD            

two potential bottom:
$1230
or $1180

both scenario seems equally possible. so if you were to buy at 1230, make sure you use tight sl @ $1224 or so.

I will long at $1230
Comment: only small long, if 1230 breaks i will short until 1181 and then long again near there
Comment:
2 POSSIBLE SCENARIOS FOR GOLD
Comment: im trading this plan
Comment: 1205 is also a potential bottom if 1230 doesnt hold
Comment: I am sticking to the 1230 bottom scenario
Comment: tp1 is $1230, tp2 is $1205
Comment: potential bottom 1209, 1205, 1200, 1191
Comment: tp1 at $1230. i long for retracement until 1235-1238 and then ill hold the rest of my shorts until 1205
Comment: possible the retracementfrom 1224 to 1230 is done and we might be ahead lower to 1205
Comment: potential bottom:
1205 (38% retracement)
1192 pivot/top of cup and handle in oct 2015
1183 elliot wave bottom
1175 50% fibs retracement
Comment: 1205 did not hold so we might see a deeper bottom. my best guess is 1175 since we got 1-2 more weeks of bears
Comment: 1200 could be a potential bottom but i expect a higher low or double bottom next week. at $1210 or so. i will long small there and accumulate positions from there.
What is the target you expect for the retracement 1240 or higher?
Reply
Loii piaspa
i said 1235-1238
Reply
Thx, I was eyeing 1242 and was thinking you want to play it safe and go long till 1235-38. Good luck with your trade.
Reply
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