GC - Gold broke the A/R and now...
Aggiornato
...the next Target is the Lower Medianline Parallel ( L-MLH ).
My thoughts are going even more south...to the next A/R set which is at least around 1250 (in a couple weeks).
But maybe that is just wishful thinking or, the potential of the A/R sets.
Always remember: Markets don't, or very seldom go straight to the target. Markets are swinging up and down.
This is why we need to be patience, keep our stops behind structures and pivots and if necessery, play it very small or even stay on the sidelines. Opportunities are never ending, as long as there is a market...so, no hurries to jump in a cold river - the next good trade will come for sure.
P!
My thoughts are going even more south...to the next A/R set which is at least around 1250 (in a couple weeks).
But maybe that is just wishful thinking or, the potential of the A/R sets.
Always remember: Markets don't, or very seldom go straight to the target. Markets are swinging up and down.
This is why we need to be patience, keep our stops behind structures and pivots and if necessery, play it very small or even stay on the sidelines. Opportunities are never ending, as long as there is a market...so, no hurries to jump in a cold river - the next good trade will come for sure.
P!
Nota
Reaching the L-MLH, we should take at least partial profit.Let's see if Gold can break the slanted support.
Nota
To me, this looks like a range play.Buy the bottom, sell the top and vice versa.
No intention to do much directional.
Playing it with options like strangles and collect time premium.
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