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GcNaif
Mar 22, 2015 4:17 AM

Looking forward to Buy from 1173 & short between 1200-1205 area 

Gold/U.S. DollarFXCM

Description

i m seeing potential bearish bat,potential bearish abcd with the confluence of trendline at the D area , also a good structure on the left at the Darea which could be a good resistance . Also i am expecting it to range between 1173 - 1204 area for the coming week..

Range to trade for the coming week: 1173-1204
Long from 1173 to 1204
Short from 1204
Comments
IvanLabrie
Definitely a valid projection in my book...I get a similar range target using time at mode.
I'm a bit scared of shorting gold right now though, but I do follow it closely as part of my intermarket analysis.
GcNaif
Thanks
IvanLabrie
tradingview.com/v/5CvGAKtt/

Nice spot to cover half then ride with BE stop...supported by your gold analysis, and the RBNZ. :)
GcNaif
not exact but very close to your view.
IvanLabrie
We agree it's a short for the time being.
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