GOLD ROADMAP - LONG at 1296

Gold broke the 1330 support on the 4th attempt, i believe it will now retest 1310 area also as the 4th attempt....GOLD IS BULLISH in 5th wave so a rare opportunity to buy ...perfect place to buy is 1296...as another support level and crucially the trendline support level in the 5th wave........

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Support at 1310 seems to have held.....small entry as not ruling out possibility of the move down to 1296

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I've closed my position (very small profit)...chart shows we may have a bullish crab pattern.....so a better entry level at 1305......also chart not showing a conventional bottoming formation...so caution...if price goes up instead then I will buy on a pullback....

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Please excuse all the lines on chart...Crab has completed at point D...so I just longed at 1305...SL is under 1296 as there is support there......TP 1375....

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I closed at 1310 ...made a few pips. from this pattern...reason is we hit the 1310 resistance...this was support so now price may need to goto 1296.....im not convinced we have seen a bottoming formation yet

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GOLD IS LOVING THE CRAB TODAY...ANOTHER ONE...buy at point D...1300.....

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Im long at 1322..I was going to buy b4 the NFP but was too busy watching oil.....

TP 1375...I may add to this position later...busy day!!!

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Added another long at 1316.00....

İşlem elle kapatılmış:

Long poisitions closed...with small profit and break even, due to price action......its a one hit wonder, you can see other patterns like this in the downtrend.....there will be better opportunities to long in the coming weeks, I think price won't take off now until we hit trendily.... but I will enter around 1296-1300 either way...