Long now looks confirmed, Wave 2 appears to have completed, and it looks like the start of the Wave 3 move.
TP 1 Zone i have is between the 299.00 to 308.97, price may well just travel through this zone, put a point of interest nonetheless
TP 2 Zone i have is between the 402.72 to 420.09, this possibly being the end of the wave 3 move into the stated target,...
Dollar appears to be gaining strength, so i'm looking to short gold at the 1272 - 1273
Looking to enter on the short side, entry point at 1273
Possible bottoming out sub 1250. i'd be looking to go long around the 1243 - 1240 levels
I'm currently short the EURUSD.
I'm looking to scale into that position on a possible pullback to the 50% & 61.8% Fibs levels @ 50% = 1.1700 entry, and then at the 61.8% = 1.1730, wide stop loss at 1.1840.
TP is 1.13000.
Late afternoon i opened a short term long position at the 1.1594 with a target at 1.1700 with SL at 1.1550.
Two short orders, one at 1.1840 which was filled on Friday, the other is at 1.1870, looking for this to have an initial target at the 1.6450, then next level at 1.151, with a deeper level at 1.140.
I'm currently long on gold, that said, next few days price action will give confirmation of a push higher, or will we be going sideways on a range bound market between 1293 - 1252.
Key resistance is at 1293, if we push through this on Asia open and close above this for a couple of days, then i'd be looking for gold to be looking to reach into the 38.2% area over...
Looking at this from the low at 124.786 to swing high at 148.459 and then using a standard 50% Fib retracement at 136.613, fits in with the current support level at 136.453.
We have 5 straight days with green candles then this is looking good for my new updated target to reach the 1.236 fib level at 151.275 which also would fill the gap.
I'm currently long.
16th January 2017
Here's another update with revised levels and targets.
Have drawn in the red sloping line, i am looking for price to stay within this line, with a push below the blue dashed line at $ 50.90 should give direction.
Then a push below the green dashed line at $ 50 should give confirmation of the move.
I am in late on this one, should have been...
Awaiting confirmation before entering long from the 1207 level. we may get a retracement back to the 50% area, if so then this would be a good entry point, which would be in the area of $ 1,165.0
Gold updated with end targets at $ 1,415 & $ 1,436 levels
Short setting up, looking for entry at 53.90 with a 50% re-tracement back to the 40.70 possibly lower to 37.70.
At these points i would look at opening up long positions with target to previous high at 62.58
Gold is now at the $1,200 resistance level, it may go a bit further but i'm out of the trade right now, as we may see a pullback of 50% = $40-$42, or back to the $1165.
Just a wait and see for me right now.
I am long silver right now, looking for push through the $17.30 level within the next few days, should it hold then we may get some additional follow through to the upside, targeting 18.40. 18.90. 20.00. 21.00. key area to get through would be 26.90 longer term.
14/01/2017.The week ahead.
Given talk of weaker $ especially leading into Friday and that support has held at the 1.045 level, i'm looking for a stronger euro this week, target 1.0890 level up to the 1.0950
I am currently looking for a long entry position, but will wait to see if it can close above the 141.565 on 2 consecutive days.
I had earlier looked for a retracement back to the 149.500 - 149.600.
I have since been reviewing the chart using the M; W; D; 4H; 1H, and just noticed that we have a June gap on the daily, highlighted in lime...