GOLD NEXT POSSIBLE MOVE
All the entries should be applied if all the rules of trade are applied . Gold is too close to the Daily chart MA50 and this is not the time to take wild bets on a market that is obviously waiting for catalysts to move. Right now Buying towards the Hourly 4 chart Resistance, having a stop on the Daily High near 1900, is the most optimal Trade to take. Excellent sideways Price-action extension on the Hourly 4 chart as the consolidation patterns providing the safest framework for dip Buying strategy. The Hourly 4 Resistance of 1890 has been rejected twice already November 10 and November 11 which gives a updated Targets with a potential extension to 1910.Gold keeps close track of the DX as in the absence of macroeconomic news it is consolidating, ignoring though the rise on the Stock markets, which shows that it continues to be detached and rallies on Stock markets don't translate into equal rallies on Gold as long as the DX isn't falling. I don't expect tomorrow’s reports to be relevant, as I am sure in 1910 test. Gold remains at the bottom of Daily chart Rectangle that started on November 9 and Hourly 4 chart is at its lowest Technically it has been since October 28 . Keep an eye on the Stock markets (positive correlation) and DX (negative correlation) in order to accurately place your positions on the Short-term . I am ready with my Buying orders to pursue Higher levels towards my 1900.00 Target.
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