Kumowizard
Long

Hold longs, correction may end, 1200+ in focus.

FX:XAUUSD   Gold/U.S. Dollar
484 9 11
It may look like a slow motion, but Gold             is still bullish biased, and I still think 1200+ area is possible to reach.

Weekly:
- Bearish trendline broken. Ichimoku is turning to neutral. Weak bullsih Tenkan/Kijun cross may happen below Kumo!
- However 1205-1230 is still a resistance ahead of Bulls. Strategic reversal would take place above 1230
- Heikin Ashi is bullish , with some momentum slow down this week.

Daily:
- Ichimoku is healthy bullish . By now we have a well defined bullish trend channel too.
- Key support is 1155-1160
- Heikin Ashi has early signal for a possible end of correction: Doji candle and smoothed haDelta is turning up again. PSAR not hit below Tenkan Sen.
- I expect a slow drift to start towards 1200+

Strategy: Hold and/or increase your longs!
Chartsmith
a year ago
Any ideas about copper?
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Kumowizard05 Chartsmith
a year ago
Would make a bullish breakout above 2,41.
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Kumowizard PRO Chartsmith
a year ago
Did u see? It briefly touched 2,41, then bounced back again. It has to close above the key level.
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Chartsmith Kumowizard
a year ago
Yes, I shorted it on impulse for a rejection. A lot of up down, up down, on the daily is how this normally behaves I see. Bit difficult to judge its direction for someone like me who hasn't watched it before.
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Kumowizard PRO Chartsmith
a year ago
Stick to your plan. When something doesn't look very good or convincing, that is not good. Even if you miss a trade entry where you were not confident initially, don't mind!
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Chartsmith Kumowizard
a year ago
True. The worst is when something looks certain a day ago and doubt creeps in. Makes it a difficult trade just for sticking to the plan. Don't like those :)
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IvanLabrie
a year ago
Same view, correction is about to end, nice discount on the retrace, for more longs.
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Chartsmith
a year ago
Thanks guys! :)
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I agree, stop adjusted below 1155
snapshot
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