ridethepig | Gold in CNY

2020年12月16日📌 The lows in Gold are an elegant threat for another leg higher towards the highs; name wave 5 which is the one that we have been tracking since the previous diagram:

I love it when an idea comes together. We arrived at the destination for our retrace and have started to form a base. Sellers are vacating! Moreover, buyers are now keeping their eye on the momentum gambits, these are particularly for their fancy.

A change of scenery from the channel would be enough to do the technical damage, there is hope for the combination and recommend keeping some powder back to go massive when it start working.

This is exactly the same way we played it with the 3rd wave up... try with one or two positions in the opening, no more. Once you break the block add another; and another; and eventually you build an entire account which gets new and decisive in its own way.

Anything but selling the premium!

So the XAUUSD annotation:

Also much clearer is the flow in XAUUSD which, since the prospect of dollar getting devalued, makes it a lot easier and more important to track.

Thanks as usual for keeping the feedback coming 👍 or 👎

2020年12月17日

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Eyes on the break today