ckloi

ckloi

After the strong bearish move, a correction back to recent SnR level could be expected at coming weeks. Therefore personally will wait for the price to pull back to around 1810 for a bearish continuation to have a better risk reward. Next support will be around 1680. If bearish movement are overwhelming, price could straight dive to 1680 support without a pull...

ckloi

If price manage to retrace back to daily trend line and SnR zone. Definitely will look for buy opportunity.

ckloi

Obviously overall gold still in an up trend, as price broke out of the weekly/daily down channel. If bull continue the upside run 1950 will be a next stop. If price wanna go for a retrace for a better price to continue the bull run, hourly resistance will be a great opportunity for a short position.

ckloi

If price can’t lift off at current level, a correction back to recent SnR level at around 1840 is predictable. My plan is to buy at that area if price range and exhaust at 1840 and the 4H trend line, which give a better risk reward ratio about 8.5. If the SnR level do not hold, I will just sit back and do nothing until next good opportunity comes. Patience is the key.

ckloi

Price probably will fall back to around 1748, to have a better price to rocket sky.

ckloi

Definitely it will take months to finish the move. I’m more favourable towards bullish, if price holds above weekly support and trend line at around 1680. If price couldn’t hold at the weekly support level probably a next drop towards 1564.

ckloi

Around 1958 is where the price tap twice before and make a great drop right after that. I would love to see another tap and it would probably a long term swing selling area to start with. Seller fading at that area would add confluence for my sell idea.

ckloi

Broke daily TL. Rejected and form a LL. Current price seem like buyer getting weaken. Possible seeing a new LL at coming week.