Gold final leg before pullback (imho)

Gold has a nice run upwards...

I still have long to 1256 and 1262, with SL of 1245.

Break 1244, I am looking for pullback to 1237 and 1234 area.

Good luck.

Bình luận:

Usually gold pullback area is .786 which is 1249. For those confident, you can short here, but I am worried about the SL if it can hit 1262.

So decide yourself, or wait for clearer picture tomorrow.

Bình luận:

If after 1hour it still dont break 1249, consider closing your longs. those long wicks above 1249 is a tell tale sign...

Bình luận:

I just another small long here. SL only if 1H candle break 1245 decisively... very tight SL. Good luck! Ideally price should range until Yellen start to speak..

Bình luận:

Borderline closing long.. wait for 1H candle, it might be a hammer that close 1246! I may be wrong. Make your own call.

Bình luận:

WARNING : Unemployment claims at 2030 and Yellen speech at 2045 (UTC+8) time. Price might be whippsawing a lot. I decided to remove my SL to observe candle close and price action. Because it can be faked out either direction.

IF u are not ready for the potential loss or profit, close your long now. Its profittable anyways. IF you follow me long at low 1245 just now, u also made $2.

IF you are ready for the risk, stay on! But you need to remove your SL.

Choice is yours! Good Luck.

Bình luận:

Self explanatory..

Bình luận:

Movement has no traction.. If 4H and 1D candle close below. 786 (1249) today? Close long.. This may be a genuine pullback.

Looking at the PA. I have decided to raise my SL to 1244 again based on candle close..

Just observe till end of the week. Nothing else to update..

Good Luck.

Bình luận:

IMPORTANT: And to add on, buy limits at the 2 locations 1243 and 1237 are removed. Post Yellen speech is not in play anymore.

Will assess everything again next week.

Bình luận:

1H candle STILL above 1244! Dont close yet! I say "on candle close"

Bình luận:

4H and 1D below 1249.. :( please close just to be safe.

I'm staying a little more longer. ;)