- Price broke the 4 hr bullish trend line, came back up to retest it at the 61.8% fib level. Reversal patter on the hour should have this sending it to the take profits.
-Looking for the news to move gold down for the 3rd wave down. Looking for a quick 50pips
-Railroad track off the 200 ema (Mayo), gonna take my free 50 pips and dip
-Daily pull back to .71 fibo -After completion of my 4hr retracement on the fibo -Just had the stop hunt after the break of the asian consolidation -Quick 50 pips up towards the 200 ema
-Railroad track before the London breakout -Quick 50 pips up to the 200 -Bounce off 1200 -Retest of weekly zone
-pins to the low, right at the open of the new york sesh -Formation of a W to fakeout buyers and sellers. -Bought off of the 15 shooting star -Looking for 50pips nothing more nothing less
With the recent break of the counter trend line on the four hour, and one hour charts, a retest of the line and then an engulfing pattern, I placing a short on Gold with targets of 1205.7. Last Week Gold broke out of a consolidation range formed on the weekly chart and I'm looking for the retest of that structure/zone.