GOLD is getting very interesting.
A daily cycle usually lasts for 20-28 days. Tomorrow is day 15.
Tomorrow we will reach the 300 EMA at 1152. Gold should top there and start to move into its daily cycle low in the following 5-10 days.
The 2 options are:
1. if the move down to the daily cycle low is slow with small candles we just test back the intermediate trend line at 1120 (3-6 days).
2. If the move down to the daily cycle low is fast with large candles we will test back the lower trend line at 1100. (6-10 days)
The move depends on the dollar and stocks.
Beacuse miners (GDX,GDXJ)) only at 1st daily cycle whatever happens gold should make one more daily cycle before it moves down to its intermediate cycle low.
Trade: selling XAUUSD at 1150-1152 during the following 12 hours.
A daily cycle usually lasts for 20-28 days. Tomorrow is day 15.
Tomorrow we will reach the 300 EMA at 1152. Gold should top there and start to move into its daily cycle low in the following 5-10 days.
The 2 options are:
1. if the move down to the daily cycle low is slow with small candles we just test back the intermediate trend line at 1120 (3-6 days).
2. If the move down to the daily cycle low is fast with large candles we will test back the lower trend line at 1100. (6-10 days)
The move depends on the dollar and stocks.
Beacuse miners (GDX,GDXJ)) only at 1st daily cycle whatever happens gold should make one more daily cycle before it moves down to its intermediate cycle low.
Trade: selling XAUUSD at 1150-1152 during the following 12 hours.