We are forming a bull-flag-like formation on the hourly and 4hrs chart.
During the last month we had a lot of bull flags which broke to the upside.
The pattern we are printing now is bigger than the previous ones. So I'm convinced this is not a bull flag , this is a topping pattern. We just need more and more bulls to chase the price in the hope of breaking above 1300 before a serious decline starts.
Even if we break to the upside - maybe on Sunday night at the French elections- we will give back all gains.
Notice how we tagged 2 hours earlier the upper trendline of the flag : price was still in the range...
I'm holding the short positions and will add if we break up from the flag...
During the last month we had a lot of bull flags which broke to the upside.
The pattern we are printing now is bigger than the previous ones. So I'm convinced this is not a bull flag , this is a topping pattern. We just need more and more bulls to chase the price in the hope of breaking above 1300 before a serious decline starts.
Even if we break to the upside - maybe on Sunday night at the French elections- we will give back all gains.
Notice how we tagged 2 hours earlier the upper trendline of the flag : price was still in the range...
I'm holding the short positions and will add if we break up from the flag...
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Gold will be hit hard today : 1250-55 by the close.
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Late Bears are waiting for gold to tag 1300-1310 to go short from there. Thats why its not going to happen. Now is the time to stop oou the bulls who are trapped above 1280.
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1250-55 is the breakout level. A lot will buy there " as a testback of the breakout". Just a 1 day stop. We will not bottom on the daily cycle basis till Wed.
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I mean next Wednesday - not tmrw
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The real winner is DUST today. And I didnt have time to post it last week :(
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Is this the good old bank trick before the decline?
running the stops above the range...?
running the stops above the range...?
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Looks like the same old trick...
Not only the futures contract but in gold cfd too...