Followup to my ongoing analysis of Gold.
Admittedly I have been a bit off recently.
Generally good on Direction but messy on entries.
Gold bulls are clearly up against the heat here.
Many traders do not belive in "Tripple Bottoms".
Each time a support is tested, it gets weaker.
If the bottom breaks, I see a few support zones of interest.
But first a "Dead Cat Bounce" to 1290 or 1300 retest is likely.
The amount of buying left at current price will be telling.
1267/70 is a realistic target of leg (E).
1250/40 will be Bull's Last Stand.
.
Previous Analysis:
Short call (a bit early)
Long call (under estimated)
Long term I still see one more leg up
Admittedly I have been a bit off recently.
Generally good on Direction but messy on entries.
Gold bulls are clearly up against the heat here.
Many traders do not belive in "Tripple Bottoms".
Each time a support is tested, it gets weaker.
If the bottom breaks, I see a few support zones of interest.
But first a "Dead Cat Bounce" to 1290 or 1300 retest is likely.
The amount of buying left at current price will be telling.
1267/70 is a realistic target of leg (E).
1250/40 will be Bull's Last Stand.
.
Previous Analysis:
Short call (a bit early)
Long call (under estimated)
Long term I still see one more leg up
הערה:
That spike below support could be a "Stop Hunt" or a "Bear Trap" given the perfect reaction to the 10.236
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If so, then we will see a bounce now, to retest 1300 from the underside. .
הערה:
So much for the bear trap? Anyway, we have hit first possible support
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watching closely .
הערה:
Broke second support as well. Early NY session, lets see if that is the low for the day
.
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הערה:
This fib of last leg down has its Band 9 right around the next target
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Band 9 is often the end of moves. Usually the 9.618 but in this case the 9.236 might since is within higher tf support zone. .
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
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