GOLD - Did you enter CT longs? If not, buy pullbacks

FX:XAUUSD   Gold Spot / U.S. Dollar
212 3
This is an update to my previous post.

Daily: MACD cross gave a futher short term bullish swing signal. Triangle break happened with big bullish candle. DMI turning bullish again. First support/resistance level at Kijun Sen reached, we may see some pull back, but that is likely a buying opportunity in short term.

4 Hrs: Triangle break, 100 WMA cross and Kumo+trendline break. Gold has enterred a counter trend with this break and close above 1170-1175 key level. Slow Stoch is overbought, so here we may see some consolidation or minor pullback before momentum can accelerate. If the pullack happens first, then try to buy in 1176-1182 range. However if from here we see further quick spike above 1200 without an interim pullback, then I will partially take profit on my longs as from there correction will likely push it touch lower again.
So now will going up or down?
Kumowizard ChinWeiHong
May go up a bit more. It is clearly a proxy now on USD. If USD shows more correctionm Gold will go up, but 1210-1220 I think is a strong bearish support.
1200-1205 resistance zone reached, I took profit on half of my longs today.
+1 Reply
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