I hold half of my short position that we took yesterday from 1231ish.
Pip Difference in frequency is becoming wider, and levels are getting tighter.
Although sell signs are slowly fading out there still are things to worry about, and this is not confirmed reversal yet.
I would try to short this one from red box with the same target, but bulls may come in faster since we are not obligated to see 1193 it was just a warning of possible downward movement.
At this point with my entry me personally I wont add short positions here, but hold the one I have with BE.
1193-1180 is still on table, but if we break out upside people may close the hedge short positions.
We will see where the price is before retail sales and if my calculations are right and I am getting signs, I will ask you to release the hedge short positions as we go up, of course if price won't be up already before the sales.
But if price stay below 1225ish area before retail sales, we have a chance to print good data, and see 1193.
I will update as always once I spot something!
And did not even test 2nd stage 1233.
If baby bull stop fight, call ambulance!
Other than that first TP 1214 is where I want to take half off, and second half 1194.
I got disappointed about gold closing my 1231 short so after some rejection signs I decided to short it.
He is posting ideas not so frequently, but once the idea come out it is diamond worth. He has very accurate long term projections, and you can learn a lot from this guy.
So far this is the one of thousands here greatest EW traders I have seen. If you need an advice about EW, VRShaiju is the one to ask. Very disciplined and great trader, you can deff learn a lot from him. I am posting this because I feel my followers can benefit from his ideas too and explore new things in EW world!
This is his last Gold Projection we have the same targets for now.
Great minds think likewise!
I am working on Plan B if my plan now does not work out! Now we need to hold above 1224 ( the level where I close the short earlier ), and break 25 upwards and test it.. because if we go now 3rd time to 31 we gonna take it out and we gonna invalidate 1193. Dynamic trading is hard.. and does not fit hedge trading.. But I really hope that if you release the hedge short that this will work out now! We need that unexpected bull now.If I would be in bad long position I would reenter hedge short below 1223 somewhere 1222. But it is hard since reversal is coming. I just hope the dynamic timing gave me the sign at the right moment!
Talk to you after retail Sales.
Now we have two temporary targets 1193, and 1238. Today Close Price should enlighten which one should be seen first.
P. S The worst thing to see how SL hit and market reverse up. I should have put SL below 1218 under transition TP levels, but well 1220 was what I could afford to hold and lose if what. If we get the close price I want tomorrow I make it all back, today I won't chase the market.. as chasing market leads to loses. I let it close and trade tomorrow.
But I am keen to get that close price to do a first Bottom Buy tomorrow.
Must be a gift so at least some + today! hahah