Short swing trade

Refer to chart

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360 up, 90 back.

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1347.5.. It will come now. If price closes above we go higher, so keep risk-management in a wise manner.

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Took a long just to ride the forker up to the target. But... Very small lol.

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In GC! the Gann target got hit already. So we might reverse now.

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I trust however more in xauusd than in GC! as xauusd has been more accurate on targets.

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Im in no short position yet. Targets are important to follow. Either you get it, or you pass the trade.

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What will happen now if price goes way above 1347.5 - like 1365? Well, then it becomes a support level and should be entered at backtest for long.

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Compared similar situations.

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1354 is where I will place SL in this trade.

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I am still awaiting my target. With great patience :)

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As long as we don't close below 1328, I have no confirmation on my table that the top is in.

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Only 7.5 usd left. Come on Goldie, let's meet the target now.

تم فتح الصفقة

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Mohahah

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Now we retrace to minimum 1310. But most likely lower.

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Personally, I hate goldbugs.
In goldbugs, I refer to those who buys just because price goes up.
I want to teach them a lesson. So far they have been very fortunate.
Let's hope their luck stops here.

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This level is important. Very important.

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A close above will be annoying, then we might see 1400 before a DCL.

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I thin I am the only short left. Rest I guess got stopped out or went long. Lonely...

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Entries: 1347.19 and 1347.87. SL = 1354.

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Asia wakes up and sees gold at 1348. They get their sweet coffee in their throats and start selling with fat fingers :)

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Price dry-humping 1347.5.. What a boring dogshit. Gonna sleep like a baby

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This is going higher. But 1347.5 is useful. It is the place where we will enter longs on the retrace.

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This is how I will play this in the following. If we get 1360, I go long at 1347.5, if we get 1335, I go short at 1347.5. Price will get back to the level no matter where it goes.
But I must be sure it is properly broken before I take any positions.

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Made a new try, entry: 1355, SL = 1358. Small this one, since we are in unconfirmed territorory, and only 3 usd at risk.

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1347.5. It will be a magnet on price in the coming days

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This also implies that there is good R/R to take longs at 1338 with SL at 1336 or shorts at 1357 with SL 1358.

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We need a big FAT finger to get this moving.

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Close price below key level, That may look good, but tells us little. Still waiting from here. Happy weekend

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We should bonce from here some dollars.

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What is 1310-11 level?
It is a level that sits 90 degrees from 1347.5 level.
Normally, when price encounter these levels, it tend to bounce.

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If we turn here, it will be beautiful.
The 1321 level that price was resting at for some days, was based on the 1357.5 level.
The 1357.5 level was more of a bogus-level compared to the important 1204.7 level. The 1204.7 level produced the 1247.5 level, which was the 360 degree level from that point and this 1310.8 level is based on a 90 degree retrace from 1347.5.
If we turn here and not do any "undercut" bullshit I get happy :)

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Did gold get overbought and hence it must fall?
What about stocks? Are they oversold? :)