I am reposting the same idea layout with little more analysis.
I posted this one earlier before and made frequent updates in whatsapp group.
We are in sell from 1222ish and holding.
But now I want gold to tell the dirrection.
Basically what I wanted to see is a tag of 1217.2 after opening. That did not come, but it should.
There are two intraday targets 1217.2 and 1205 that I am looking for.
If there is bear market should tag 1217.2 first which didn't happen and gold is dropping.
Where? to 1205 first?
If so that could mean that gold is setting up for Long.
My plan is simple if gold takes out 1209 and dips to 1205 I am doing heavy buying there and closing 1222 ish sell as well removing 1217.2 sell pending as then it means gold can have new high again.
If gold tags 1217.2 first I keep the sell open.
It can spike both ways but I do want to see 1205 first which I explained in Whatsapp group why it would be a lot better.
I risk on this and if smth face the loss. There is no other way how to test transitions and behavior than doing it live.
Good Luck to me!
If gold is dropping buying every dip / level lower each long TP set 1217ish.
If gold break 1205 under it I am starting to hedge buys for targets 1197 1193.
If that happens I am releasing hedges down there and buying again with the same TP 1217ish.
If 1217ish comes first without seeing 1205 then I am more on a bear side.
Gold reach 1209 first as well reach 1205.7 ( + 0.7$ rule )
Sell from 1217.2 was removed. Sell from 1222 was closed.
All buys closed!