We are near to 40$ profit this morning. Resistance levels are approaching.
1. First the target price counted from the right translated pattern at 1304$. ( The right translated pattern will be important later what I'm doing and why.
2. Later the 200 on the 4hrs chart : 1305,8$.
3. And last the resistance at the false swing : 1313,715. A lot of bulls will get out at this level as they were trapped at that false swing...
I just want to prepare you that I'm going to jump out between 1304 and 1314. I want to see what's happening with the currencies and stocks at these critical gold levels.
Notice that he FIBO 38,2% retracement is at 1297,88. We just hit our head into that level in the last hour...
LONG FOLLOW THROUGH - Holding the longs
DOn't like today's price action. It's running out of steam.
AFter a break out of the flag on day 4 we shouldn't act like this. The new highs are smaller and smaller.
I will take profit on half of the gold position before the CPI and Retail sales news.
I will use a stop for the rest of the position below the flag at 1284$.
Closing all gold longs at 1299-1300.
am still long from 1273 stop 1250
1250 is an important level
if you are selling 1270 will hold