If close price is what I want.
Be extra careful with long tomorrow. Metal Cruisers will not be interested to dump contracts only if gold overcomes 1234, below 1234 is risk zone as they run out of time and Arbitrage between two significant players are too wide, so that needs to be stabilized.
And remember if we tag 1193 - 1180 area, this is place where I look for long options and route to 1383 as Company A is buying Gold contracts later this month.
1193 is still not an obligated target but we may get a spike to tag it. Time will show.
Sell Limit @ 1220 with SL 1225.
Sell Stop at 1208.
Let's see what market gives us today.
But I think price should reach 1221, if it does not then well.. next opp if we break 1210.
wohh.. I didn't expect they are in such rush. If 1193 is the price that satisfy them than that is bottom, because once Arbitrage stabilizes, the Company A is ready to buy gold contracts to open the route to my 1383 target.
As per my calculations on template this is not the bottom yet and now chance to see 1193 has doubled.
I will do dynamic calculation after close as I cannot do it now while market is open.
There is one main level for every day.. once the level is BELOW the close price it will be confirmed bottom.. seems that for Monday that level will still be above the close price. Generally I would love to see a spike to 1193 - 1186 and bottom there.
thankyou in advance.