Bearish Gartley of Gold Complete,Aiming to 1250
Zaktualizowano
Price tested the crucial support 1280 for several times, and closed at a bit lower than this level, still need 1-2days confirmation to check if it is a real breakout or not.
But onething for sure is that according to weekly chart of gold, a huge bearish gartley pattern has been completed, with the ideal entry short point at 1320 level.
Don't lose heart if u miss that perfect entry point, as I believe that the market will give us at least one more time to pull the trigger.
Watch out the price may retest the 1290 level next week, but seems really hard to pull back over 1300 again, unless the "rocket man'' really open fire with its neighbors.The investors have been fed up with his weakened threatening wordings,less attractive to hold gold facing the FED rate hike cycle.
U can see my comment on previous post relate with a potential bullish pattern for DXY, which also in line with the idea about the gold.Watch out the crucial price level and keep it with your trading time frame.
Thus I'd rather choose to short gold if permitted, maybe a perfect point created by ADP data, NFP data whatever, and there are 3 ideal target levels for your reference:
SL: 1303
TP1:1280
TP2:1261
TP3:1250
I'd like to trade with what I've seen, and be willing to share with u guys. Feel free to let me know your feedback.
But onething for sure is that according to weekly chart of gold, a huge bearish gartley pattern has been completed, with the ideal entry short point at 1320 level.
Don't lose heart if u miss that perfect entry point, as I believe that the market will give us at least one more time to pull the trigger.
Watch out the price may retest the 1290 level next week, but seems really hard to pull back over 1300 again, unless the "rocket man'' really open fire with its neighbors.The investors have been fed up with his weakened threatening wordings,less attractive to hold gold facing the FED rate hike cycle.
U can see my comment on previous post relate with a potential bullish pattern for DXY, which also in line with the idea about the gold.Watch out the crucial price level and keep it with your trading time frame.
Thus I'd rather choose to short gold if permitted, maybe a perfect point created by ADP data, NFP data whatever, and there are 3 ideal target levels for your reference:
SL: 1303
TP1:1280
TP2:1261
TP3:1250
I'd like to trade with what I've seen, and be willing to share with u guys. Feel free to let me know your feedback.
Uwaga
Price is near 1270, falling slowly in london session, still have some support near 1272, and may met some resistance from long side.It requires some time to finish the second and 3rd TP.If u have already some profit, consider to close some of your postition to protect your money, or set up a protection sl level.
Transakcja zamknięta: osiągnięto wyznaczony cel
Price hit 1261 on Friday night and closed with a pin bar.1250-1261 becomes a strong support zone, consider to buy low.
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