AlphaDreams

BULLISH BATS ON DAILY -- HOW DEEP FIRST?

FX:XAUUSD   Gold/U.S. Dollar
207 0 5
All is on chart. 2 bats, 4 targets. But I've had fun scalps in decent range this week.

Waves show that we could go to 1180 but could also be done closer to 1210. Either way, with all of the recent sideways action, either can fire.

Looking at the events soon, rate hike, turn of year, earnings , new US president in office, can start more action.
Comment: We are slowly on our way. This can be found on daily and 4h. There is plenty of room from the 1172 support to the reversal start of bull to allow for big swings so if you are not already long, use care or lower leverage.
Comment: There was also a IHS developing which didn't break out but, as https://www.tradingview.com/u/Bandarsq/ pointed out, the sideways action could be extending the right shoulder, which it did.
Comment:
snapshot
Comment: Lastly our Bullish Bat has a 1.618 retracement that is at 1232 (our TP of the IHS) and the SL support is 1172. Numbers/prices worth keeping in mind.
Comment: baby moves along the way
Comment:
snapshot
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