Update, price is still moving higher in what i see as a short term correction with lower prices expected, price poked through the 50% retracement line, given this, i'm now focused on the 61.8% at 136.971. I will add to my position at this level.
Please refer to previous G-J posts.
Price has indeed pushed higher, I'm expecting the 132.584 to be the line in the sand, a push above that by any amount invalidates my chart, and i would not remain bearish, short term, under any circumstances at this point.
130.026 is a target level which price has now reached, but i'm looking for price to move slightly higher and test the 131.378, and possibly...
Short opened at this current zone, may move a bit higher and up to the 130.343 line, but should't go any higher than that.
Looking for price to move lower, and below the previous low of yesterday.
SL just above the 130.343 plus add an amount to cover the market spread.
Updated chart with price target now added, at this area i'll be looking to go long, buy order limit has been set, and hopefully, this should reverse from that zone, it could go a bit lower as shown on the line below, but unlikely, but price swings could see it happen, if it does, then i'll add to my long at that point as well.
I'm currently short on this.
For reference purposes, these are my own thoughts on this, a pull back to 97.90 / 98.78 area - (61.80% / 78.6%) is a good area to be short, or even at current price, although i think we may get back to the 98.30 area.
Targets are way down at the 91- zone.
Stop would be above the 99.88 plus an allowance for the spread.
GJ is now coming into the area of interest for me, i'll not be looking to buy anything at the first area, rather than to watch and see price extending lower towards the bottom area target.
The first area which i'm looking for price to reach is the 128.991, but i'm looking for price to go through this level, take a breather for a while, and then continue lower...
Here's my own personal take on things. I'm looking for gold to push higher in the coming days, re-evaluate position/outlook on the basis of the type of unfolding move (up or down) and from there to get a better idea if we are going to move much higher than the noted 1730+ zone.
Short term price action, looking at slightly lower pricing, then we should bounce off this level, and up into what can be said may well be major resistance, personally see this area being the line in the sand for short term bull / bear move.
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.