I'll be getting out if BTC and alts on the next short pump. I may be wrong as this is bitcoin after all. However, Ill be taking profits on most of my short term alts until the next minor or major bear market... Then repeat.. Rinse.. Repeat... Rinse..
My final short idea on gold. If it breaks 1803 then I need to be bullish - doesn't mean I will enter straight away. Wait for a 3 wave correction then I will enter buys.
If this short works then this will most likely be the final push down, before a nice swing trade to 2100+
This is only a trade idea - not a signal. Please do your own due diligence before...
If gold were to range in between the buy and sell zone then you could potentially go much lower than 1680
I will wait to see what the reaction is to the upside next week.
If the reaction is impulsive towards 1760 then it's positive for gold.
If the reaction is more corrective and slower towards 1760...then possibly another massive drop to the 1670 area for...
Still riding 1759. Taken some profit and that's at breakeven. Took another at 1738 and no that's at breakeven. Will take profit for that at 1709 or yesterday's low. There is a speculative buy at the 1680 zone.
Taken a small position - either a double bottom around 1700 or a slightly deeper one at 1675
Once in profit 30pips. - i'm moving to BE as it can retest the upper channel - it is gold after all!
Then will re-assess and go long/short
December gold is in range before breakout late Dec to early Jan..
Targets 2050 (at least) - ill update for higher targets.
Targets below must break invalidation level. If it does this count is all wrong and needs to be bearish then (mid term)
So this is my count and projection.
Only interested in buying deep 1765-1800
If it doesnt do there and wave 5 has started - then might sit this one out as wave 5 may not be that amazing!
Having said that - Gold has a tendency to overshoot!
I think these next week or two will pay out this move, push up to test the trend line around 1970ish, then if a bearish candle close 4h,6h,12h or daily on or below the trend line would (for me) put pressure on price downwards. This kind of makes sense with dollar potentially strengthening and 30y usbonds looking to boost.
Any bullish momentum above 1975 will...
Overall longer term is BULLISH - short term bearish
The nature of these trades - i am taking a small lot size and trying to find the demand supply zones for entries. May not activate as gold is ranging right now, and not trending on anything less than 4h timeframe
Always use a stoploss - max 2-3% risk
Another word of advice - be patient for your entries- I...