I was watching EU as it clearly leads Gold now. I have mentioned they both are twins, same behavior! Only thing is that sometimes Gold is faster, sometimes EU is faster! + Gold reacts on the geopolitical events.
Who is faster now is not hard to tell!
Seems that EU is going for a double bottom! Usually, previous Lows are broken and when ppl sell because previous L was broken, it changes direction.
Given the fact that 1276 was broken giving a target 1254 it is not looking that bad! Today we had a clear rejection at 1282. Still, no 2$ break means no bull.
The Gold bottom was at 1260 - EU bottom was at 1.1668. EU is almost there and if there will be no Twitter storms from our Great President Trump, or any other sudden Fundamental activities Gold is following EU with a slight Lag but it still does.
Chances are that 1260 will be tagged. I will be watching what EU does when/if it arrives at previous L 1.1668 if it bounces, or breaks it and then bounces I will buy the heck out of gold at 1260-1254.
This is not an easy trade, movements are slow and boring, patience mode is on. Either down there either above 1282 is where I'm buying!
If 1254 broken by 2$ then target 1228 is given!
Congrats to those using 1282 from the previous idea as a sell point. I was thinking about it too as SL would be tight just 2$ but didn't go for it.
Now just waiting! Now I'm doing nothing between 1282 - 1254 - Waiting L or H.
Target zone is 1254-1257 because on these targets apply 3$ rule.
Intraday 1$
Swings 2$
Transitions 5$
Weekly 3$
Monthly 10$
Who is faster now is not hard to tell!
Seems that EU is going for a double bottom! Usually, previous Lows are broken and when ppl sell because previous L was broken, it changes direction.
Given the fact that 1276 was broken giving a target 1254 it is not looking that bad! Today we had a clear rejection at 1282. Still, no 2$ break means no bull.
The Gold bottom was at 1260 - EU bottom was at 1.1668. EU is almost there and if there will be no Twitter storms from our Great President Trump, or any other sudden Fundamental activities Gold is following EU with a slight Lag but it still does.
Chances are that 1260 will be tagged. I will be watching what EU does when/if it arrives at previous L 1.1668 if it bounces, or breaks it and then bounces I will buy the heck out of gold at 1260-1254.
This is not an easy trade, movements are slow and boring, patience mode is on. Either down there either above 1282 is where I'm buying!
If 1254 broken by 2$ then target 1228 is given!
Congrats to those using 1282 from the previous idea as a sell point. I was thinking about it too as SL would be tight just 2$ but didn't go for it.
Now just waiting! Now I'm doing nothing between 1282 - 1254 - Waiting L or H.
Target zone is 1254-1257 because on these targets apply 3$ rule.
Intraday 1$
Swings 2$
Transitions 5$
Weekly 3$
Monthly 10$
I mentioned botnet in the last idea! Now take a look at the first comment below.