pixi
Short

Bull rally retracement still in progress

FX:XAUUSD   Gold / U.S. Dollar
1930 12 29
Hi,
This trade setup is widely inspired by @faylee analysis.
Some convergence point are interesting with Gann / Fibonacci and Prices Structure.

Regarding gann (experimental), gold             should hit a top in early days of november : $1307 (i will watch closely 1292 also)
Then, gold             should start its a bloody november drop with a target at $1166 (retracement .618 at 1172).

I'm expecting a yearly close around 1200/1210.
Trade active: As i said in the summary, i was expecting a touch on 1292 (because of a bearish pattern - not present in the chart).
Short 91.
If break, i will targeting 1307 as explained in the chart.
Comment: Stopped @94 / Wait 1307 for short
Long if price pullback 92 before
Comment: First short triggered at 1304 (i split my position in 3 : 1304 / 1305.5 / 1307) SL @1312
Comment: Close BE. Re-split in 2 positions 1307 and 1309 SL@1312
Trade active
Comment: Close the short at 1303 before weekly close after took some profit on 1288.
These days are so unpredictable and keep a position over week is too risky.
I will see on monday if no gap up, i will short again $1307.

Go Hilary ;)
I'm assuming you got stopped out and are now eyeing $1,307 as the potential reversal level, are you not?
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pixi VirtualFax
Exactly ;)
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To be honest, I can't figure out the significance of retracement to specifically $1,292 zone and why that would be a long signal in your eyes. So sharing your logic would be really appreciated.

However, I believe we have a fairly good chance of such retracement at some point today anyway.

Lastly, I'm long biased on Gold in general but, nevertheless, will still be hedging. As a result, I'm thankful for the effort you put into sharing your ideas as they help me to better pinpoint the hedge entries.
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pixi VirtualFax
1291/1292 is for intraday. Just a scenario, but these days are so volatil ;)
snapshot
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Makes sense. Thanks pixi.
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You're really great. You're the only person I know whose forecast perfectly fit!
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So you're long now? Sorry hard to follow!
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pixi Marvin
Short 1307 as explain in the chart and summary. I don't think it's too hard too understand ;)
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Yeah well I do
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we love u Pixi~
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lets watch it blast threw your resistance at 1307.41
+1 Reply
I'm sticking to this ! No longs for me for a while :)
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