Gold is buying mode, daily candle stick show buy signal on candle stick rebounce at S1. try to get a good price to buy in lower time frame. projection gold until R3.
The price , performed shooting star at 61.8 fibo in daily time frame, projection 161.8 area . first target close the gap at 130.85. which is previous pivot daily. manage your money wisely to ride this pair.
From R2 the price will drop back to pivot to close the gap , 130.75 , from 130.75 the price will rebounce back looking for daily pivot 135.35/65 and drop back . i will calculate the fibo level in order to get the pattern.
it will retest trendline , 122.84. for tomorrow trade. still long .. another 100pips more, then wait for breakout or rebounce.
it was rebounce today , during carney said potential to hike the interest rate trendline was broken , therefore bullish now for 3 bearish drive pattern to be complete.
I vote for bearish since it did not breakout above 50% , in daily . target 127 area.
neutral , if break only buy or else rebounce back down
gold is bearish still in bearish channel. just want to sell gold not buy .
Inverted hammer rebounce on BB lower and rebounce on support td line . 1- HNS was broken 138.00 2. Price re-test the support ,and failed to break at support line. 3. Inverted Hammer rebounce on BB lower.
If the price breakout HNS we will see 140.00 area , target will be same lenght or range neck to the head on inverted hns