DAILY GOLD *IF* WE HAVE ALREADY STARTED A RETRACEMENT
As usual, I like to post what I am thinking, seeing and want to know and remember while trading lower time-frames. Timing might be off, though we fell quite fast, but here are some fibs I'd be watching if it turns bull.
It would have to breach 1150 to the North for me to consider bull. Also, the moving averages would have to agree on what ever time frame I'm trading. These days, 4h since I am busy during the day and need more time in between trades (having an 8 month old child will do wonders to your free time).
Note, I am still holding shorts based on the same technicals here on daily but on the 4h time-frame along with some standard RSI.
It would have to breach 1150 to the North for me to consider bull. Also, the moving averages would have to agree on what ever time frame I'm trading. These days, 4h since I am busy during the day and need more time in between trades (having an 8 month old child will do wonders to your free time).
Note, I am still holding shorts based on the same technicals here on daily but on the 4h time-frame along with some standard RSI.
