Balazs
Long

More expensive Jewellry?

FX:XAUUSD   Gold Spot / U.S. Dollar
134 2 5
Guys, that GOLD             anniversary or special ocassion bracelet for your wife could get a litlte more expensive, haha. Hopefully the money you make on this trade will make up for it :)

Upper trend line broken on weekly/monthly time frame, conslidated and looks like it's going up!
Comment: Weekly and daily view still showing break up and perhaps already in the trade. However on a smaller time frame (4 hour, etc) you will see quite a few 2618 opportunities.

If you haven't entered it's not a bad idea to wait and see how the recent double top plays out, possibly retracing to the 127 or even 1618 level as it did not long ago.


Comment: 2618 trade is active, with better than 618 entry. Despite this brief opportunity, but don't get too excited because we're expecting a bounce up possibly, unless the lower 4 hour trend line is broken and consolidates. Don't forget our longer term weekly chart shows a strong buy.

Comment: 2618 trade reached target 1, and nearly at target 2 (127 fib extension), could go to 1618 near the lower trend line:


But don't get caught up in selling and lose focus of the bigger picture:
Now that we're all done with the short-term selling (and profit), time to get back to the bigger picture (BUY). Lots of patience needed but could be worth it.
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