At this point in price I see bullishness until we start breaking lows. My bias suggest that we have change direction and will be seeing bullishness for awhile now. If we continue breaking highs and not breaking any lows then my bias is correct.
For now I am not certain enough for any trades to be taken. I will wait for my confirmation in my bias. I am willing...
We found a reaction to my potential reversal point. We took a winning trade off of that level. We took partials at the take profit zone but kept a small portion in that was stopped out IN PROFIT. Looking to take GU up to my next trade setup idea. I believe I will stay out of the markets due to news for the rest of the week.
I am looking to see GU continue its high TF trend and make another move to the down side this week. It may not happen this week exactly but I believe this is the overall bias for GU. There is a lot of open liquidity below. I don't see why we come this far to not collect liquidity soon.
Had this trade idea this morning. I was not at my desk so I did not feel comfortable taking this trade where I was at the moment so I had to pass on it.... I'm just happy that my mind set was in the right place.
This explains why gold has been slowly going down. Should continue to keep moving down until is hits my support line or the end of the handle and then rocket back up as any cup and handle does.
