XAU Update / Cup Idea
Updated
Just something I've been looking at as a possible scenario...
Will post a more indepth analysis when we get a short term answer...
On the livestream initially we had shorted 1490s but then flipped long @ 1502 and again @ 1512.
Now we look much higher but lets see what happens here.
Previous analyses:
(38.2% Retrace, weekly chart breakout):
We start targeting 1600's LAST JULY:
We identify the breakout from $1300:
Good luck traders
Will post a more indepth analysis when we get a short term answer...
On the livestream initially we had shorted 1490s but then flipped long @ 1502 and again @ 1512.
Now we look much higher but lets see what happens here.
Previous analyses:
(38.2% Retrace, weekly chart breakout):
We start targeting 1600's LAST JULY:
We identify the breakout from $1300:
Good luck traders
Note
Obviously the news today has rendered much TA invalid.We will continue to follow this idea. If the situation in the middle east calms down, it may still be applicable.
Note
still expect a small retrace at some point but this particular idea is invalid at this time
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