I know I had similar Idea, but I want you to be ready for this opportunity.
Back in July I had a template indicating possible Target 1238.00
At this point when Gold is at 1238.00 - 1227.00 ( purple line in template )
I want to look for strong opportunity.
When the day comes and if Gold mets my 38 target, and daily swing suggests buy, I will place orders.
I won't wait for obvious 1200.00 because if 1227 is broken I will sell and sell hard.
But this is one of a kind opportunity, where you can Lose, or MAKE big money, by adding more buys on each Resistance breakout, and close it all at the top!
I am very open to contrarian views, but remember, before you try to be smart and act like a holly grail trashing other views, and saying, hell no.. gold will go down more.. you won't get your buy at this area.. etc.. remember that Forex is a game between Bulls and Bears in which one loses, one wins. I am not afraid to lose and be wrong, but I want to warn you about this huge opportunity, and least you can do is try and not to miss it.
This is static cycle of Alteration Levels. After targets are met we usually see very strong rally. But in rare cases Alteration levels are broken, and if broken, new Alteration Yearly levels come in game!
That's why unless 27 taken out, I will be Bullish!
This screen says it all!
Check out this idea.
Let's hope for the best!
All I can say is that Rate hike is already priced in. Open Dollar chart and you will see it, like most of things are always priced in, so really don't care if they hike or not.
I will trust yellow money that's been around 5k years more than any useless paper.
Trade with care.