Shorted the Daily kijun, expecting a retracement to 1248/49.
Out from previous short, re-took some short (avg $1280), expecting retracement (1249/50)
All shorts (avg $1292) closed in losses at $1296.
I took some profit at $1311 and finally close my long at $1321 and short triggered (SL 1325).
This idea is still in play, but this rise has no volume and i don't like it.
Gold hitted the 0.707 retracement and, in general, is a good point for reversal.
eg. trump's election
Moreover $1321 is aligned with $1180 and $1047 in the Gann's square of 9.
So, i'm not too greedy, this long at $1237 gave me some good pips.
But, retracement is maybe on the table.
First TP at 1295/1300
SL short hitted at 28.5 / Long 28.5 - Waiting completion of initial idea.
If gold hits the PRZ (1347/1350), i'm expecting a retracement to $1292 at least (5-0 bullish pattern) / or better, $1249 to complete a Bullish Bat.
In both cases, Gold is on bullish mode in this early days of 2018. In Mid-term, we could see $1430 and $1530. Time will tell.
Bearish Butterfly at $1530 -> Return to normal ? / Big Short ?
Long closed at $1242 / Starting to short SL above $1250
Expecting a 50% retracement to complete a likely bullish 5-0.
Target bullish 5-0 + Weekly kijun around $1300