It may look like a slow motion, but Gold is still bullish biased, and I still think 1200+ area is possible to reach.
Weekly: - Bearish trendline broken. Ichimoku is turning to neutral. Weak bullsih Tenkan/Kijun cross may happen below Kumo! - However 1205-1230 is still a resistance ahead of Bulls. Strategic reversal would take place above 1230 - Heikin Ashi is bullish, with some momentum slow down this week.
Daily: - Ichimoku is healthy bullish. By now we have a well defined bullish trend channel too. - Key support is 1155-1160 - Heikin Ashi has early signal for a possible end of correction: Doji candle and smoothed haDelta is turning up again. PSAR not hit below Tenkan Sen. - I expect a slow drift to start towards 1200+
Strategy: Hold and/or increase your longs!
Kommentare
Realisto_FX
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I agree, stop adjusted below 1155
Mokonomo
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Thanks guys! :)
IvanLabrie
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Same view, correction is about to end, nice discount on the retrace, for more longs.
Mokonomo
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Any ideas about copper?
Kumowizard05
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Would make a bullish breakout above 2,41.
Kumowizard
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Did u see? It briefly touched 2,41, then bounced back again. It has to close above the key level.
Mokonomo
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Yes, I shorted it on impulse for a rejection. A lot of up down, up down, on the daily is how this normally behaves I see. Bit difficult to judge its direction for someone like me who hasn't watched it before.
Kumowizard
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Stick to your plan. When something doesn't look very good or convincing, that is not good. Even if you miss a trade entry where you were not confident initially, don't mind!
Mokonomo
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True. The worst is when something looks certain a day ago and doubt creeps in. Makes it a difficult trade just for sticking to the plan. Don't like those :)