Goldie is trying find her legs after a long fall. We like the pullback trade to see if she has any legs to her. We will buy into the zone from 1170 down to 1158.
Gold, at first glance is seems like it flipped trend and went super bull mode these last three weeks...however Gold is definitely in a major downtrend and at this point has not broken free from it. In truth, it is creating a perfect reaction to trend given the previous reactions in Time & Price. Sure, it was a great buy in the 1120's/1130's but we're now at the...
Hey there!
Generally speaking, I'm testing my new trading system.
IMHO, it is a great experience to write down all your trades, as it is much easier to analyze them later.
Thus, I'm publishing my ideas here. It will be also great if some of my trades will help all of us to get some profits)
I'm also attaching my risk calculations.
Normally, my risk per...
Fib within a Fib. Major pattern engulfing minor pattern. Both bullish.
Minor exceeded 50% extension and now in play to challenge and complete major pattern. If price action continues bullish, expect to hit 50% extension of the major pattern. This rally could bring GCG17 to around 1214.
I wont speculate what FOMC will announce, but in terms of Gold...cyclically, will get smashed. Not until then...time is the most important factor here. My price entry may change due to price action leading into the turning point date. The date of entry is set in stone though. 17th or 18th is next top.
Notice how last year December has a similar pattern to gold right now. There was an initial spike up breaking the 10 EMA. Then for the next week or so, it was battling to stay up above it and constantly testing the 10 EMA. Eventually, gold re-traced back down to its low.
Today's gold movement appears similar. Watch out for the constant retests of the 10 EMA, if...
