Hello traders,
I am expecting these two scenarios in gold based on the corrective structure which gold is drawing the last 6 weeks. Option 1 is a triangle which should finish in the 1299-1301 area. Option 2 is a flat correction which is more complicated and should finish somewhere in 1307/9 - 1314/6 area. I'll keep updating as we go. My mid term targets are 1255, 1234, 1209.
I am expecting these two scenarios in gold based on the corrective structure which gold is drawing the last 6 weeks. Option 1 is a triangle which should finish in the 1299-1301 area. Option 2 is a flat correction which is more complicated and should finish somewhere in 1307/9 - 1314/6 area. I'll keep updating as we go. My mid term targets are 1255, 1234, 1209.
Comment:
Zoom in
Comment:
Lets see which way we go
Trade active:
First short activated at 1299
Comment:
SL is now on BE. Risk free trade. Tgs 1280, 1272
Trade closed manually:
Trade closed at 94 because North Korea fired a ballistic missile again.
Comment:
Pending shorts removed for now. I'll update this idea if anything changes.