Gold back into bullish again. But where will I buy next. 1570 and 1555-60 there are the two critical levels of buy with tight stop loss.
Why those two targets?
Fundamental Reason
Technical Reason
I am expecting following price action throughout this week
Have green Pips
Note: If the both two target failed then only we get 1539. It's very hard to break 1560 at this time.
Why those two targets?
Fundamental Reason
- Corona Virus cause uncertainty in the economy and stock market react at very late. Let’s say after the 1st quarter of the year
- China is 2nd largest economy builds upon “cheap labor”. if labors are sick no product
- FOMC meeting minute release (expecting much better dovish tone)
Technical Reason
- Resisted by falling trend line @1584
- Bullish Elliot wave triangle which can be B or wave 4
- 121 harmonic patterns in 1hr chart. Support @ 1570
- Bullish Cypher @ 1555-1558
- Bullish Elliot wave Triangle support @ 1555
I am expecting following price action throughout this week
- Monday – Bank holiday (range mode) - Doji
- Tuesday - Manipulation day/Relief day (dark cloud bear candle)
- Wednesday – Anxiety and disappointments (FOMC SL Dinner + beef stack) (doji/hanging man)
- Thursday – Revenge day (Sun rise in the East)
- Friday – Horns break the shorts.! (Whole sale shorts auction on eBay)
Have green Pips
Note: If the both two target failed then only we get 1539. It's very hard to break 1560 at this time.
