I wish you all great trading week!
I prepared golden swing for you to trade.
Simple trading plan.
I will wait for 1269 to enter sell! If 1269 broken upwards price will come back down to test 1269 ( transition ) so either way it is a risk free ride for you. Other than that if all is good, I will add more sells when / if 1263 broken downwards ( buy transition ).
But let's see how this works out during the day, and as awlays you know that I will update you frequently, so of course you can feel free to press that bro thumb for this idea.
My Initial target based on Yearly template:
Sell limit at 1268.8 active!
Look how beatiful the earth is! Make a coffee, turn this on, and relax for a minute - https://www.youtube.com/watch?v=UGPuEDyAsU8
I did deeper transition analysis! And things are getting suspicious!
You have to be careful with selling bcz of two things..
First, we come from buy transition, which is not good! I was willing to see sell transition first.
Second, since we come from buy transition, and if we break 1269 upwards, gold is not obligated to come back and test it, because the first transition it touches is the general transition, so if we sell this from 1269, and if it breaks it upwards, it is not obligated to test it ( touch it ) and can go up up up.
So all we can do is sell with Stop Loss. Let's see!
Other than that.. to go up.. we now need to bnreak 1263 upwards!
I will wait for close price and maybe we can get a buy setup! Let's see!! But 1269 is a must again!
Thanks! Let's wait for NY close and see where the price wants to go!
Market broke transition downwards but because of HTD level being upside it was not able to go down without testing it first. Now it broke transition upwards, and now if it tests it back 1266.00 I will be careful with short at 1269. Because it will not be obligated to test 1269 if it breaks it upside