Acel
Long

Gold - Taking out the early shorts 101

FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
There is a slight chance that its still inside an ABCDE 4th.

There are so many shorts based on Gartley patterns. Let's go with the minority, shall we?

Its still going up after some pullback. So its either up->down->up or down->up->up
Mar 25
Comment: If gold manages to push higher without breaking below the purple (2) 1365 is a nice target before a pullback to the lower levels.
Mar 25
Comment:
Mar 26
Comment: Gold is finding resistance here. Its not at a fib extention target but its at a fib resistance. Unfortunately there is no access to volume so this is half the picture.

If it doesnt break look for the low 1300 for a re-entry.
Mar 26
Trade closed: target reached: Target uno!
Mar 27
Comment: This is a potential wave 4 retracement. Its gonna hover around 1340 levels for the next hours before it picking a direction. If the .65 fib and wave 1 support holds its aiming for a last push to 1365.
Mar 28
Comment: Golden zone for the bulls at Gold.
Mar 28
Comment: Note that it can still be on the ABCDE 4th and going down for the E. Its a risky trade at this moment.
Mar 28
Comment: Gold is about to invalidated the bullish count. We will switch to the bearish one. Lots of fib correlations on the boxes. The middle one should hold for at least the MID term. If not the last one is the last support, also pitchfork lower support line.
Apr 05
Comment: Gold likes to bounce on the .65 retracement, but the structure seems incomplete, it should have another leg down to 1314 area before bouncing for real.
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