XAUUSD : Long and Short Possiblities
Updated
Addendum to previous chart.
1281- 1285 provides huge supply.
Break of rising wedge can lead gold towards around 0.5 fib 1235 retrace.
Dovish News can provide more strength to pull gold towards 1300 region.
We can see huge commercial short covering if retrace do not happen and this might fuel bull run even more.
IR hike can trigger fall towards 1150. If not then bounce towards channel top.
We may see huge manipulation Pre and Post FOMC.
Trade Carefully.
Good Luck
Wish you all Million Dollar
1281- 1285 provides huge supply.
Break of rising wedge can lead gold towards around 0.5 fib 1235 retrace.
Dovish News can provide more strength to pull gold towards 1300 region.
We can see huge commercial short covering if retrace do not happen and this might fuel bull run even more.
IR hike can trigger fall towards 1150. If not then bounce towards channel top.
We may see huge manipulation Pre and Post FOMC.
Trade Carefully.
Good Luck
Wish you all Million Dollar
Note
We are in 1280 - 1285 region. As I predicted we are facing uphill and resistance at this level. Clear bull flag at lower TF 1hr . may short up to 1290 - 1292 maximum.Enjoy profits.Note
Tops 1290 and retraces to 1280s before FOMC.IR decision will be the path decider for gold.
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