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GOLD - The range rider

Diupdate

This idea is simple. It seems that the 2016 high will be the line in the sand.
As I posted a few hours ago in this idea I entered a long position at 1389-1391:

Target : 1440$.

Catatan

I still have a range, but after the morning drop I see a triangle forming:

Catatan

We were unable to tag 1383 two times in a row.
So this more and more looks like a triangle.

Catatan

Following the triangle pattern. This bounce was nasty.
Almost everybody is short.

Catatan

Powell's testimony is an hour from now.
The bounce was caused by currency movements

Catatan

XAUEUR is bouncing too. +0,5%

Catatan

It's just a guess but I think the testimony speech went out , so a few insiders already have read it and they started to buy.
If it is the case he will talk about the rate hikes at 16:00 Budapest time.

Catatan

*** Rate cut

Catatan

Very strong...
The dip was bought in the same hour.

Catatan

FED minutes 2 hrs and 15 minutes from now.

Catatan

Many' Fed officials said in June they'd be willing to cut interest rates if uncertainty still weighs on outlook, minutes show
Only a few FED officials argued against the rate cut in June - Minutes show.
Asia will buy this.
Path is clear.

Catatan

Getting close:

Trading ditutup secara manual

Close enough.
Waiting for the next setup. Breakout from the triangle, or the lower trendline again.

Catatan

We might get back into the long position soon, as it looks like a flag now.

Catatan

Let's see what happens at 1419$.

Catatan

Beautiful

chartwatchers

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