XAUUSD 10 Feb 17

I am still neutral (a bit bias to bear) after looking at 1D candle. Until we have definitive move, we need to stay nimble. Trade what you see, not with your heart. No Emotions!

This chart should be self-explanatory.

We can re-enter at right shoulder around 1234-1236 with stop above 1239 and short all the way to the 1220 or even 1210 area. I doubt we can go lower than this today.

BUT if price break up at 1239, prepare to long to 1265!

Comment:

Downforce is pretty strong, by observing the pressure, consider shorting at lower level at .236 at 1228-1229 area. Mnaage your risk.

I also projected tartget to be lower, 1212, 1205 and 1196 (max range for today imo)

Comment:

Gold double bottom in 30m, First short entry should be around ~1330

Comment:

DXY has pushed up weekly pivot, EURUSD has moved, we may miss the entry at 1228.

Prepare to short when price break 1219. SL around 1227 imo.

Trade active:

1st entry active, SL above 1239. Today target is 1212.

Trade active:

2n batch at 1333 active. See the Fib levels. Self explanatory. Good Luck!

Trade active:

3rd and final batch entered. Looks like the action is done for the week. Next week, we will revisit our position.

Trade closed manually:

Closed all about at 1231. Approaching weekly close, I can see daily and weekly candle is not favorable for correction, imo. I wil assess the move again next week.

My pattern still valid until broken, but for those who still short, SL can be reduced to 1236.

Comment:

Surprise surprise.. Candle close below 50% retracment. Trade is still good imo..

My recommendation, watch 1228 and 1215. Both points can be last attempt for the bull to push higher.

Comment:

1228 re-visitted. I hope you guys TP and reduce SL, for those who are still in the game.

Comment:

1215 next?