Gold seemed to pullback really quick when checking the highs of $1450. What do i see ahead is the fall of Gold. On the monthly retracement we are at the 70% retracement. A good time to sell would be around this price range. Stay cautious and trade accordingly.
Gold Has Tested Twice and Retraced to a heavily Supported Level. We Should be seeing Gold Push higher. The confluence with the Fib Retracement on the 1 hour just goes to show the Demand is there.
We merely saw a correction to the downside with Gold. Consolidated for about three to four days before continuing to the upside. Week and monthly shows Bulls are in control. From here we are looking to capitalize that long and place our stop losses to break even once we have reached a threshold of about 50 pips. Trade Safely my Friends.
This would be retracement buy till the 88 Fib level. Why Do I say it is a retracement? I believe it since it is considered to be in a downtrend. This seems to be a consolidating flag pattern. Before returning to the Short BIAS. SL at 20 pips.
This price zone was the support that held US30 in consolidation for 2 weeks. It broke it prior and had a pullback about a week ago. So the structure has been broken and We are looking for a rejection of this price range. Stop loss no more than 60 points. Bias is Short.
