TexasTower85

TexasTower85 Updated 

LOTS of reasons to love Gold here (and silver for that matter): Breakout of 8 year resistance and technically perfect test/retest Above ALL major moving averages with bullish crossovers behind us Previous 5 FED Rate Hikes have produced sharp gains and market highly expecting next hike - 3/21 - 95% chance Recent Inflation Figures much Higher than...

TexasTower85

See chart for idea

TexasTower85 Updated 

Now that we have most probably begun Gold's intermediate decline at the triangle top and channel re-test, I am able to set my targets for trade possibilities. Initial decline to fork median line and strong support @$1200 - A Impulse bounce to 0.382 Fib and Fork's upper support ~$1228 - B Continuation decline to lower support of the triangle and bottom ~$1165 -...

TexasTower85 Updated 

Gold is testing back it's channel from Dec' 16, at resistance from 2011 ATH trend line, and due for an intermediate decline in it's cycle pattern. DXY and Silver charts also support this direction as silver turned down on Monday and DXY is at support in its long term channel. Those charts I will post below. TP 1: $1200 TP 2: $1165

TexasTower85 Updated 

Watching for Natural Gas to complete AB=CD then will look to short pullback to 1.618 of AD This point also meets daily bull trendline (chart below).

TexasTower85 Updated 

My belief is that Gold has reached the Centerline target and will now fall to 1160 or possibly to the bull trend line from 2007 (Dark Green) (2nd chart in comments shows bigger picture - bull/bear trendline origination). If we fall past 1160 and bounce from the Green trendline, I expect a more rapid bounce through the Centerline and head all the way to the top...

TexasTower85

Hitting resistance at 3.62 (Previous strong support) and double top. Broke out of channel and off the back of parabolic rally. SL 1.5% @ 3.65 and TP 11% @ 3.2