Hi, With some volatility before and after Japan election on next sunday, i'm expecting large movement on Gold (highly correlated with yen) All patterns are on chart.
I added long on 0.618 retracement with confluence of inverted AB=CD pattern at $1277. TP $1298 to reach the bearish trendline and to complete a bearish inverted AB=CD pattern. Pullback to $1270 to complete a bullish gartley in order to confirm the low made in early october. Then, start of CD leg to complete a bearish Bat and fill the gap opened in early september (PRZ between $1345/1350)
Below 126x, just forget ;)
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Short term bearish shark. Took some profit.
Waiting retracement to $1282 for 5-0 and retest structure.
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$1282 has been reached.
From now, 2 options from my side to complete the gartley : Today gold drops until $1270 and should open with an gap up on monday. Else, gold reach $1298 until close and open with a gap down on monday to reach 1270$ to complete the gartley.
In both cases, i think 1270$ should be reached to push prices to the north.
Again, below $1260, just forget :)
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Entering PRZ. Starting to add long. SL Below X.
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Added long on Bullish Bat. TP1 - Bear Gartley around $1287
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TP2 - Bear Crab at $1302 + Previous structure
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$1269 hitted. AD leg with inner Bullish 3 drive. Added last Long.
Agree. Considering major supports breakouts today. I think we will hit that Gartley at 1235. It should provide some retrace.
AEFX786
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Nice setup, we took a few buys on this and last week from about 128 and closed at 130 last week and again today took buys from 127 but we're targetting 1336.73 based on weekly timeframe.
@pbartashevich, hi, thanks for your input. Exactly, there's a support near 1248/1250. Else another gartley structure in daily TF around $1235 if $1260 fails. tradingview.com/x/gdrTMdcm/.
lord_kinbote
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Good stuff Pixi, thank you.
No_structure
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Thanks for what yo do Pixi. Are you expecting a major bull run in 2018?
pixi
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@giuseppe.grande, YW.
Too early to say that, no idea. Step by Step.
But indeed, above $1350, i have a target at $1420 then $1530. Need confirmation to post such chart.
And above all, gold needs to keep 126x safe. If $1260 breaks, high probability to see 123x.
No_structure
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@pixi, same view here. I don't want to see gold under 1260. But Aud/usd is confirming this scenario. Gold is resilient relative to Usd/Jpy.
I invite you to study Aud/usd to understand better what gold could do. We have a big symmetrical triangle on daily chart. Super bullish for 2018 if 0.77 hold. Lets post something about it ;)