We know we had a breakout. When we had a breakout? it's Friday Normally I don't count breakouts on Friday which end up with losses in coming trading days. My preference is to keep away from the market at least for a week for "swing trading". Scalpers have plenty of opportunity. We are not expecting rate hike this month. Since last two weeks the sentiment on gold was too bearish. with out bull we don't drop. :)
lets get back to the important level to watch. 1232 50% correction of the swing. We found resistance here. 1240 38% of entire down swing. 1198-92. Fib extension target. Here is the area I am looking to buy Gold. I am patient enough to wait until it reach the level before FOMC meeting.
If gold going further up next week I prefer short before FOMC with two reason. 1. DXY should start to bull 2. UJ should find the support before the meeting
I titled it as wrong idea because I am not trading this. I am waiting and scalping on 30-1h timeframe.
評論
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Planing to enter Short tomorrow above 1236 or below 1230. Trade Safe
評論
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Took my 1st Short position of the Week 1238. at the tip There is NO reversal sign yet.
starting to feel like we're out of steam, may be going short with you just closed all my longs.
leonarddavidson60
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Bullion banksters know that lots of people are waiting to go long from 1160-1190 levels..and most retail traders are still holding to their shorts...on their screens they can even see the positions of all sl at Comex casino..
But what's gonna happen to lots of shorts if banksters will push the price of gold further up next week???
What's gonna happen to lots of small retail traders who were not able to close their shorts on Friday?? Well, i do sincerely hope that im wrong...
GOOD TRADING TO EVERYONE NEXT WEEK!!
@asiajet, i do my little taking.... Buy @1222 to tp@1225 place a sell limit @1228 and tp@1222 but some thing happen it keep going but i am still on it coz i believe what'z gonna be gonna be what's goes up must come down and what's come down most goes up all the same life goes on...... Is a trader life.....
VRShaiju
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@leonarddavidson60, you are right. The break of the Trend line gave confidence to hold their short further. We have two scenario here. 1. There is no Volume for this buy. 2. Bullion bankers will not trade 10-20$ move instead they are looking for minimum 100$ in single swing.