▄︻̷̿┻̿═━一 Mark my words... GOLD WILL FLY NEXT WEEK!
My cubes are not perfect but I have tried to put in stop loss (support) as well - I would probably place my stop loss at the bottom of the cube.
I do think gold will try break 1313 next week - a very important level in my opinion.
✈ Gold next week will be supported by on-going geo-political crisis in Israel/Gaza, India/Pakistan, Russia/Ukraine and Iraq.
✈ It will also have an added boost of bullishness from the US dollar coming down off a 6 month high.
✈ Crude oil is trying to make a move up as well, good news for gold .
✈ It is oversold and have bounced off a long term support line and it is likely to retrace upwards very quickly.
✈ A break above 61.8% Fib at 1282.47 targets the 50% expansion at 1290 .15.
✈ The important 1313 - if it is broken, I will say it's a magnet to the 1330 zone.
▄︻̷̿┻̿═━一 $GLD during the week after Jackson Hole Economic Symposium
Winners : 8
Losers : 1
% Winners : 89%
Average Change % : 1.52
Median Change % : 0.78
Maximum Gain % : 4.31
Maximum Loss % : -0.21
Average Gain %if Winner : 1.74
Average Loss % if Loser : -0.21
Payoff Ratio 8.28
Average Absolute Change% : 1.51
Profit Factor : 55.61
Outlier Adjusted Profit Factor : 35.00
Currently my analysis on the 1 hour chart and the 4 hour chart combined shows a 81.25% bullishness factor. I'm a firm believer that 1400+ is possible before the year's end.
Check my other idea linked below on why I think gold has (long term) bottomed and will move up.
Happy trading! (╯°□°）╯︵ ┻━┻