Looking at dollar. It really needs to rally immediately starting on Monday.
Gold is forming a triangle but now I was thinking higher chance for breaking down first to 171-172 level then get back up.
Both are on the verge. Stay focused.
Bond dipped below daily cloud does not look good. But when at the critical level, it is not rare to see bull/bear traps. So immediate reversal would give some positive sign for good R/R entry for bonds.
Looking in connection with Gold which seem to be breaking out shortly. Gold rally would be turbo boosted by TLT rally and DXY fall. The latter does still look...
But wait until b/o.
High chance it will break out, but whether it can make new highs directly is not that clear. So either:
1. use short term options and take 2/3 profits when close to prior high
2. use long term and hedge with short term put when close to prior high
Depending on your longer term view. The idea is: if prior high was the top, one should see...
Obviously if we close this week in this shape, ppl will expect a dive next week.
Let's assume no dive for now.
If we bounce here and close above 185, this will form a weekly bullish engulfing. This would be very bullish. However, I think the probability is not high given it is still waiting for 10ma to catch up. So, 180-185 is most likely for this week assume no...