Kumowizard
Long

#Gold daily key levels tighten

FX:XAUUSD   Gold / U.S. Dollar
563 7 5
Once looked bearish , now looks bullish in terms of Heikin Ashi.
A higher low again on daily...however it is still stuck in a tightenning triangle.

You only have to watch:
- The major bearish trendline at 1145!!!
and
- The triangle bottom ard             1100-1110.

Motto: "It's never too late, especially if you have higher confidence and better probability to win!"
Paralell channel on daily, retest of the Red support and then up?
Reply
Yes, I think 1155-1160 retest is possible. Ahead of ECB the EUR will be under pressure, which sends EURUSD lower too. That will cause natural correction in Gold as well.
So wait for reaching support (prev. breakout level) and look for a buy signal there!
Reply
Triangle break out 4-4.15pm AEST (Australian Eastern Standard Time - Queensland) Wednesday.
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Interesting position now. With stocks deciding to rally up (at least to cover the gaps)
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Could be a setup for a BIG disaster....
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BCMel Yahia.Awes
Could you explain that LK? You mean a plunge off the top of the channel?
Reply
Excuse me, what do you mean by LK?
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