Last week gold tired alot to breakout due to high volitality USD was as strong but gold didnot cross 1730.Gold was giving nothing but Low reliability signals as Resistance/Support breakouts were invalidated most of the times. As discussed, these are Fundamentally driven sessions and unusual spikes are part of it. The Price-action is under extreme Hourly 4 Volatility and on very important crossroads. The Hourly 4 should break to the downside and at the same time DX is Bearish along with the Bond notes on Monthly High’s (both marginally) which is Technically BUllish for Gold next week probably . Bond notes however (which has been the benchmark for Gold lately along with the DX ) keeps their solid Channel Up intact. This displays a very mixed picture for Gold and I can only approach it with breakout points, as Gold is ignoring correlations for more than #14 sessions now. This is translated into temporary minor movements, which will be overshadowed when the Trend appears and allows the fair Technical Trading. As I am no longer interested in selling, #1,730.80 - #1,770.80 is my re-Sell area and break of can engage #1,770.80 psychological barrier extension in motion.
All the entries should be applided if all the trade rules are applide.
All the entries should be applided if all the trade rules are applide.