Dear, Comrades: GOLD
Diupdate
Dear Comrades,
Gold is no doubt trading within a pennant currently and looking to fill the top of the wedge shortly if support can hold.
But, it is just that support I am worried about. I am bullish but not like this price action on intraday time frames.
I would recommend a long play to 1720-ish, targeting the top of the pennant, but I personally am in cash, risk off.
I will regain in longs once pennant breaks out and looks to extend to heights of 1780+ (spot).
Good luck. I still believe odds are in bulls' favor, but as I said, I am removing myself from this consolidation period.
Not an indication to buy/sell.
(It is but, you know...).
(So, it's not, just to be clear).
Upon breakdown I will look for any bear trades that present to me and deliver that guide to you.
- Best of luck
Gold is no doubt trading within a pennant currently and looking to fill the top of the wedge shortly if support can hold.
But, it is just that support I am worried about. I am bullish but not like this price action on intraday time frames.
I would recommend a long play to 1720-ish, targeting the top of the pennant, but I personally am in cash, risk off.
I will regain in longs once pennant breaks out and looks to extend to heights of 1780+ (spot).
Good luck. I still believe odds are in bulls' favor, but as I said, I am removing myself from this consolidation period.
Not an indication to buy/sell.
(It is but, you know...).
(So, it's not, just to be clear).
Upon breakdown I will look for any bear trades that present to me and deliver that guide to you.
- Best of luck
Catatan
The 1703 is the floor to trade from. A break below would be hectic.
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