GOLD Setting up for a New Wave up? Part 3
The perfect long trade on Gold' got a hick up past week because of that H&S that eventually got formed so my stop got reached but still a very nice profit. Now instead of reaching it's target around 1210, where i wanted to re enter again we stayed above the 1212 and made a Bart move :).
Now there are 2 options:
-Ugly unreliable inverse H&S, the only way i see this one succeed is a big rally straight into that resistance zone (green line). I think anything less than that, will make the H&S fail (red line).
- Dropping towards that trend line and making a higher low (blue line).
I will be watching the opening tomorrow to see what i will do.
The fractal on the left is still in play as long as we stay above that green support. But below the 1205 it will already become unlikely.
Previous analysis:
Now there are 2 options:
-Ugly unreliable inverse H&S, the only way i see this one succeed is a big rally straight into that resistance zone (green line). I think anything less than that, will make the H&S fail (red line).
- Dropping towards that trend line and making a higher low (blue line).
I will be watching the opening tomorrow to see what i will do.
The fractal on the left is still in play as long as we stay above that green support. But below the 1205 it will already become unlikely.
Previous analysis:
تعليق:
I am taking half profit here and will re enter again if we drop towards the neckline again. Just to play it safe :)
تعليق:
From the looks of it, with this strong rally, the fractal might be in play. I will probably just sit on my long for a while from now on. I already locked in some profit so it's worth risking the profit of the running positions. I will maybe take some profit around 1255 though
Anyway, the inverse H&S has been playing out and the fractal is still in full play here. So still looking good.