Hi Guys,
our 1st target was hit sooner than expected! Again, and as always, no one know what will happen for sure, just simple expectations based on market dynamics.
Options I am monitoring now:
1) the price can break upwards, go straight for our 2nd and even break it like it is nothing. (volatility and fear in the markets is crazy right now) I hate this option but it can happen.
2) it can collapse, very unlikely because all is supporting gold right now, I cannot see 1 thing that will push gold down. But...it is there...be aware
3) or what is my most likely scenario, it can make a retracement, maybe even some consolidation and go for our 2nd target. In green you will see my most likely retracement to the .618 which matches a high resistance price area.
what do you guys think? share your thoughts!
as a bonus, I added where I will evaluate and very likely exit my investment and move to monitor my next entry. ;-)
this is not a trading/investment advice! everyone should trade at their own risk!
all the best and GL
Mike
our 1st target was hit sooner than expected! Again, and as always, no one know what will happen for sure, just simple expectations based on market dynamics.
Options I am monitoring now:
1) the price can break upwards, go straight for our 2nd and even break it like it is nothing. (volatility and fear in the markets is crazy right now) I hate this option but it can happen.
2) it can collapse, very unlikely because all is supporting gold right now, I cannot see 1 thing that will push gold down. But...it is there...be aware
3) or what is my most likely scenario, it can make a retracement, maybe even some consolidation and go for our 2nd target. In green you will see my most likely retracement to the .618 which matches a high resistance price area.
what do you guys think? share your thoughts!
as a bonus, I added where I will evaluate and very likely exit my investment and move to monitor my next entry. ;-)
this is not a trading/investment advice! everyone should trade at their own risk!
all the best and GL
Mike