Gold has had a nice rally since the bottom.
About time it takes a breather from its non-stop rage.
I will enter short @ 1121, 1123 and 1125.
Aiming for TP approx 1190 and further possible retrace to 1180.
About time it takes a breather from its non-stop rage.
I will enter short @ 1121, 1123 and 1125.
Aiming for TP approx 1190 and further possible retrace to 1180.
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It might be that yesterday was the top/hard resistance as well with 1218. The Gann resistance fan was hit if you adjust it exact @ the degree from the bottom, so we might not reach 1220-area. Hard to determine exact price +/-5 usd from 1220 should be used as estimate.
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Today price met neutral line of the downtrend. Should provide some resistance for a retrace.
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Green line met. It can bounce here or take down the 38.2 fib retrace level from the top.
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Still found support @ Green line as well as the 38.2 % Fib retrace held support. Should be good for a long next week.
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Entered a short at 1204
