Price seems to reject my 50% fib level and I think its a good shorting opportunity going long term. Also, price seems to have broken out of the previous bullish wave and has since retested the previous support- now new resistance. MY ENTRY PRICE IS AT $1572 INVALIDATION LEVEL OF $1600 LONG TERM TARGET AT $1182 i.e. for those who asked if I could post my idea when I make my short entry.
@Timgucci, I think 1563 is a key level. I'm nervous about my trade (sell). Can you give me some confidence?
Timgucci
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@wlaveciv, trading should be based on what YOU think is right. Don't trade based on only on someone else's analysis.
Timgucci
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@wlaveciv, Yes its a key level and market conditions can change abruptly. There is also a chance Gold can skyrocket if it breaks beyond the 1560 level.
wlaveciv
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@Timgucci, I think 1555-1575 is a sell zone last week. now it reaches, so I sell it. and I saw your idea.