XAUUSD, end of Feb edition

I want to see gold lower and reload long at the three following locations. Knowing Gold bullish behaviour, I would be careful to short it. Short at your own risk. Better move is to long near previous high.

Comment:

Watch the momentum, it is strong selling. Only Load long when there is bullish candle.

Comment:

1H Bullish candle forming.. prepare to enter upon confirmation. Initial stop loss below 1232 candle close

Comment:

If it can close above 50% retracement, even better.

Trade active:

Close above 50%. Now Let's see the follow through.

Trade active:

Unintentionally, my long around 1240.50 is triggered. Usually need to wait for a bullish candle to confirm there is some action.

Comment:

I have concerns:

1. Gold is trading outside bullish channel. Gold has to go back inside the channel to trade asap, if not, this is not good. Will monitor this situation closely.

2. This is a new month. Usually major reversals or continuation happens in these period. IF there is no bullish sign, this might be a reversal/deep retracement.

Comment:

Gold rebounded on my March pivot area around 1237. If this breaks, I will manually close all my longs. If by NY close, we didn't break 1247, I will manually close all my longs too. Bearish trend may just started.

Good luck!

Comment:

1D candle is bullish. I just add long at 1247, the breakout.

Comment:

Another long at 1243, about half retracement of yesterday upward move.

Comment:

We should be seeing some stability here...

Comment:

1237 is still respected. This is good.

Trade closed manually:

30 mins broken 1237.