We all thought gold was gonna go down because of the daily pullback but after today we have confirmation that we could see gold go for 1350 area already this week.
On the H4 timeframe the price went down around previous low (not exactly), made a new higher low instead, didn't break the trendline and as a gift we received hidden divergence which means trend continuation.
We want the price to close above the small H4 resistance to get the last confirmation before we open any positions.
If we do see a breakout out of the weekly upper channel we could see the other levels to be potential targets.
Komentar
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Gold broke the previous high and retraced down and going back up now.
Komentar
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Trade was manually closed before Friday market closure. I believe that we could see gold start going down from this area.
When you say going down do you mean a short pullback to 1324 and then up or a literal drop?
Kiavash
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@monitorr, I mean we could see aa literal drop coming soon before final target at 1350.. if we fail to break to break 1339 and have confirmation I will be looking to short down to at least 1305
monitorr
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@Kiavash, ah yes I see there are people saying about a pullback to 1324 but you think 1305? What are you looking for in the confirmation? a spike below the current high? On what TF? Can you update the chart with possible outcomes? Charts looking good so far.
Kiavash
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@monitorr, I need at least 4H spike above 1339 and close below and see where market opens.. I will do an update by tomorrow on if I'm going short or will wait. You can follow on insta as well I do mystories there on my trades
monitorr
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@Kiavash, okay thats cool. Look forward to the update. Whats the insta addy?
Kiavash
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@monitorr, The instagram for trading updates etc is @kdlifee
monitorr
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Nice one mate, Good call. As it would seem we bounced already and on way up or still waiting for bounce?
Kiavash
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@monitorr, Thanks mate! I opened a small position at 1315 area and once I've more confirmation upwards I'll be lookin' to add more soon.