BOTTOM OF THE GOLD RANGE.... RIDE TO 1560 REDUX!!
Updated
Yesterday was a day of consolidation and the gold trade didn't pan as I expected but I am a permabull so price going lower
was just more opportunities to long...
I longed asia open and watching a break on this hourly trendline
The break happened already as I was preparing the post so I am watching as it approaches the 21 hourly ema.
It won't hold as you look at the H4 21 hourly ema as it's sitting around 1504 (seen below)
Also MACD has a cross which should be and impule move up the next cross will be the one to take us to the top
Stoch way oversold
Here's what im looking for
-break of hourly trendline - check
-possibly retrace and break of the 4hr tl
- i will make another long on the 4hr candle close of that line
-bears at the 1500 and .50fib level will be on notice and should provide resistance
-looking to trap those bears and add long on the confirmation and break of the 1500 critical level
Setting bear traps all day....
Happy Huntin'
BooBii
was just more opportunities to long...
I longed asia open and watching a break on this hourly trendline
The break happened already as I was preparing the post so I am watching as it approaches the 21 hourly ema.
It won't hold as you look at the H4 21 hourly ema as it's sitting around 1504 (seen below)
Also MACD has a cross which should be and impule move up the next cross will be the one to take us to the top
Stoch way oversold
Here's what im looking for
-break of hourly trendline - check
-possibly retrace and break of the 4hr tl
- i will make another long on the 4hr candle close of that line
-bears at the 1500 and .50fib level will be on notice and should provide resistance
-looking to trap those bears and add long on the confirmation and break of the 1500 critical level
Setting bear traps all day....
Happy Huntin'
BooBii
Note
Buying at arrow as planned...
Stops minimum below previous H4 candle...
should be low risk : high reward...
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