FX:XAUUSD   Gold Spot / U.S. Dollar
1673 19 32

- The Red wedge line is a wedge from $1900 top to 1790 top (two previous top).
- $1360 is a strong resistance will probably hold at first test.
- I expect the next bear to be deep. up to $100 correction or 61% retracement.
- There is a small possibility that $1320-1325 is the top as well. We have to take this into account!

FOLLOW me & LIKE my idea for more cool trade ideas ;)
Comment: too soon to call 1315 the top yet but its possible. lets see if we can break 1315
Comment: i am no longer bullish, i am neutral. until i analysis the daily chart tomorrow
Comment: what you need for a bearish formation is either a double top or lower high. to confirm bear.

for bull we need to break 1315
Comment: if we can go back above 1300 my bias will be bullish again
Comment: I AM BEARISH NOW till $1243 or lower. i will update this chart tomorrow.
Comment: here is my new chart
Comment: my 1360-1400 target is STILL VALID but we need a retracement of 50-78% first! my 1360-1400 targets are long term. i dont plan to short big. so this is not a change in plan at all. i just fitted a retracement along the way.
Comment: i am a slave to the charts/technicals and not my emotions. if i trade based on my emotions, it will be bull all the way LOL.
Comment: I DO NOT RECOMMEND TO SHORT! best strategy is to buy on strong support, hard to tell where the bottom is atm. but 50-61-78% retracement is possible.
Thanks for sharing....1248 support maybe?
Loii ombakh
can be as high as 1263
Like your idea, however if you go long term i do not think it is appropriate to change you stance after 2 hours? Thank you for sharing your thoughts and posting to the community though and please continue sharing your ideas.
Loii Mitasse
Why not? R u paying me to post these charts? It's my money. I do what's best for my money. Market conditions can change in an instance. Must adapt.
Comment removed.
Loii SupraBoy
I trade purely based on technicals. Markets can change within hours.
Sharp correctiondoesn't mean no high in long term ;) I think that gold gonna fall in the next days not for a considerable reason ex brexit but because has been manipulated for more than a week ;) after everthing gonna restart better than before ;) crises and bubbles around the corner... every month gonna be a good one for a bullish position.... profit from gold soldes waiting for the big shot ;)
okay, am following you, but I must reblock my shorts again,
Let's respect the 200MA on the weekly chart please, I have short positions and I just unblocked my hedged positions. Loli, if you have a hand in the push up please, give up. thanks.
Loii EmalbansFx
its not a top until we have another failed break of 1315, too soon to tell.