Gold Spot / U.S. DollarUpdated

Possible gold movement, 1338 is the key

Here is the my idea about the gold movement. 1338 is the key.

Note

1338~1344 area is the key.

Note

Two key area:
1. 1338~1344
I would like to short from here to 1318~1322 area for the first time.

2. 1318~1322
If a long pin formed from 1318~1322, long to 1380. If breaks down, short to 1298~1302.

Long from 1298~1302.

Note

Watch 1332, it might go up to 1341. 1346(0.382) is reachable, short from here.

Note

seems that 1341 is the top, once 1328 is broken, ABCD to 1300.
There might be a bounce from 1318 to 1328, then down.

Note

Retrace to 1328~1332 then come down to 1308.

Note

Retrace to 1322 and down again.

Trade closed manually

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.