Short term outlook of gold on the 4 hour time frame. A break of 1264 will create a new wave down and a break up from current price can see a very nice move up. The Euro is looking strong for today which is positive for eurusd and will also see gold up so I say a upper wave is more likely. But keep a close eye on it just in case 1264 breaks.
TP: 1288 SL: 1262, (if 1264 breaks start selling) 1262 instead of 1264 because I dont like stops exactly on the right spot in case of just a short spike.
GL with trade. We may bottom in front of or on full moon :)
Pinhan
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Hi Josh, if the US10Y rises above 2.4X gold ll collapse. So there is no long Gold positions. US10y have a trend now.
JoshFX1
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@Pinhan, You say "if" so theres still a potential long in gold and its also looking at a reversal now. This is the 4 hour time frame tomorrow at end of the day we shall see.