Gold Threatens to Break Above the 1,899 Level

• Gold held below the 1,899 resistance level since late November.
  
• This 1,899 level touched again on December 20th and a week later on the 27th.
  
• Selling pressure continues to remain lackluster so we are eyeing a break on the upside.
  
• Any upside is expected to produce a higher R as opposed to a play on this level continue to hold as resistance.
  

[Note that ideas published represent my viewpoints on structural directional movements. I do not post explicit trade parameters (i.e. entry, take profit, stop loss, etc.) as these are set to in reference with my expectancy. Since my win rate and R-multiple targets are different, ideas published are simply a resource to provide guidance. You are expected to manage your own trading decisions.]

Comment:

Note that the upper wick on the daily TF is still a concern. Directional bias may change depending on how this further develops.

Comment:

While it's NYE here, happy new year to everybody else!

Got a good signal, more to come.