GOLD / Bulls in Progress / Retail Sales.

FX:XAUUSD   Gold Spot / U.S. Dollar

Hi, traders.
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 bullish 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!
Comment: Price went up and met HTD 1221 right away just like yesterday when we shorted from HTD 1231. I am not adding to shorts as some levels are higher and price can pass 1221 upwards, so lets monitor this.
Comment: Keep in mind that today is a day when bulls can come unexpected, for that wee need to monitor red box and last upper level 1225. So we prepare for bullish scenario without seeing 1193. Time will tell.
Comment: Scenario that I would love to see if gold sees 1193 is that it goes thru 1214 straight down.. and doesn't mess with it.. if this happens, Long from 1193ish will be confirmed one. But that is just a scenario for bearish move.
Comment: Approaching Pivot. Watching closelly.
Comment: 1231 half short closed at BE. Daily pivot is not kinda broken yet, and 2nd stage invalidation 1233 is still ahead.. let's break it and then talk Bull.
Comment: This baby bull didn't even stay above daily pivot for just 5 mins.
And did not even test 2nd stage 1233.
If baby bull stop fight, call ambulance!
Comment: Baby bull my try again, let's have faith in baby bull. All we need is clear 1229 and 1233 break with confirmation! We still have chance.
Trade active: After rejection, decided to enter, stop moved to BE
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.
Trade closed manually: Closed the sell manually clear rejection from one of levels at 1224. Re-short only if that is broken. Other than that, baby bull can go now to test upper levels again.
Comment: While doing analysis and monitoring gold, I want to introduce you to person VRShaiju.
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!
Comment: 24 rejected very fine! Glad I closed the short and let the baby bull climb up here.. maybe we will have long scenario today.. let's see can gold break 1229 and 1233 for clear bull!! Fingers crossed! As for 1193.. would be nice to see it though, I would feel more comfortable to long there so that is off the table! So let's monitor the movement!
Comment: Situation change a little bit, I would want to go long, but I wait for confirmation! My target would be 1238.. I am still monitoring this. But seems that this can happen.
Trade active: Okey I longed!
SL 1223.
TP 1238
Comment: Tough Call But If I would be you I would release the hedge shorts now, and re-hedge under 1223 if we go there. It may be the time! Don't get mad at me if this don't work out! It is just my suggestion to do it now!
Comment: Sorry SL is 1222 not 1223 damn. Sorry for this mistake that may cost you something. :(
Comment: One more time sorry about SL level. I'm a bit in stress.. SL should be 1222.00 not 1223.00.
Comment: Okay so I am long with that SL 1222.00 as Transitions were the best time now to enter the long, because if we break them we go back down. Recalculations throw out 1238 as a TP, so I made this call!
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!
Comment: We have done everything and build a intraday bottom on Transitions.. Now we just need to test 1225. And we are free! I really hope it test it and go up, and does not break it. We really have done the intraday transition bottom. Cmoon Gold.. Invalidate 1193 for now, reach 1238. Test 1225 and go up!
Comment: btw 1224.83 is my entry.
Comment: I moved my long sl to 1220, and sell pending order there as well Retail Sales should drive gold up is my bet. I still look for 1238 and I think 1193 will be invalidated.
Talk to you after retail Sales.
Trade closed: stop reached: 1220.00 Stop is reached. And the sad part is that 1238 is still target that gold go to reach! I may re-enter if conditions met.
Comment: I was wrong on this call.. I mean the entry that was not so confirmed.. 1238 made mess in my head. I take today as a losing day and find the real reversal later.
Now we have two temporary targets 1193, and 1238. Today Close Price should enlighten which one should be seen first.
Comment: We need a certain close price above 1226 today .xx matters, and if we get it, I will buy the gold bottom.
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.
Comment: What a joke. I was so busy and so focused on my main account that I forgat about my second one and that there are two sells running that I took earlier today.
Must be a gift so at least some + today! hahah
Comment: Closed the shorts ( gift ones ) once they made back my 1220 stop loss, and end this day with that note. Waiting for close price to see what is going on.
It's just a range day, hope tomorrow gold will decide to go up,
Is 1212 a temporary bottom or should it be the bottom in this case?
Thx Bruno. Keep up your good work! Peace
I have a short at 1250, and waiting for 1193 or 1180 to long. Trade mini lot only.
that's Forex,we'll bounce back ! chat moro.
Do you think there are sellers at 1238 (1240) since thats your target? Im thinking if we break 1231 area price could go even higher, but with gold I always expect the unexpected.

Btw, really like your trading ideas :)
Hi TP, what confirmation are you looking to go long at what price? Thanks
TheZabisyu dundeeboi
@dundeeboi, I am already long.
dundeeboi TheZabisyu
@TPparadigma. I see I'm thinking getting in at 1235, only got a small account. sl 1210 first tp 1240? thoughts if you have time only. thanks
TheZabisyu dundeeboi
@dundeeboi, Why so big SL? That is one big SL.
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