GOLD - Broken flag

8 Şub 2023

After we tried to play the bounce , now I'm back to the original idea.
The daily cycle decline can but almost never lasts for only 2 days.

After the 2 red candles what was printed last Thursday and Friday the decline slowed down but not finished yet.

The next target where the daily cycle low can be printed is at the 38,2% FIB retracement (1829$) or at 1850$ where the 50 SMA runs.

We have 3-4 days for this to play out.

Time window: 70-90 hours

9 Şub 2023

Not

Fantastic how the trendline is working. Many people are watching this flag now.

9 Şub 2023

Not

9 Şub 2023

Not

Broken flag

9 Şub 2023

Not

Monday’s candle low is at 1860.76 that will be taken out by the close of today.

9 Şub 2023

Not

On the daily chart, we might get the tag of the 50 SMA by the close:

9 Şub 2023

Not

1860.76 is taken out:

10 Şub 2023

Not

50 SMA tagged this morning:

10 Şub 2023

Not

Backtest of the flag:

… and the 50SMA

10 Şub 2023

Not

Textbook movement…

10 Şub 2023

Not

I’m waiting for this final movement in this daily decline. Hopefully we get it today and I can go into the weekend without position.

10 Şub 2023

Not

Where the green range is coming from someone just asked:

10 Şub 2023

Not

Green range origin on the daily

13 Şub 2023

Not

Waiting for this final drop.

14 Şub 2023

İşlem elle kapatılmış

Cause this trade at 1860.

14 Şub 2023

Not

I have a feeling we are going to print the DCL right here at the 50 SMA.