Gold 13-Jul, 2017: Retracement long before Wave 3 bear

12 Tem 2017

Do check the related idea for Daily chart. This is retracement plan. If A wave makes another high on H1, the retracement I expect is a zigzag. Risk is high selling B wave down but 1215/16 should be bought up quickly because C will be aggressive if that level is touched. I'm only buying the C wave and selling off its high.

17 Tem 2017

Not

July 17 NY session: 1242/44 is a worthwhile short scalp.

17 Tem 2017

Not

...if scalp shorting, keep some 1215/16 longs live for more uptrend.

18 Tem 2017

Not

July 18 NY session:


I maintain bias to zigzag correction on daily based on both patterns and the momentum. Its still too early for Wave 3 bear down and daily A is showing 5 waves nicely.

Attached is just a forecast update - Daily B correction don't necessarily need to hit 1226, but if it does, its a good spot to add longs. Daily C only need to go beyond daily A for a zigzag to complete so be aware of truncation.

21 Tem 2017

İşlem kapandı: hedefe ulaştı

I'm quite happy with 1254 TP. Frankly I'm looking to short now.