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2Q 2017 Gold setup

Gold still on uptrend channel (both white) and hasn't visited the top channel (red). But now gold is resting on the middle channel (purple).

This is a good long swing. Take note this swing may take weeks. Dont put too high position.
SL is below the minor trend line (faint white) I have decided to put it around 1230 upon solid 1D candle close. (Just below the faint white line)

First TP around 1269, and if its broken, we will aim the higher range of the white trend line.

GL!

Trade attivo

Take 1/3 position profit around 1250 and SL to break even. Daily close below 1252. A bit skeptical.

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Updated pivot lines and possible movement...

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Previous link broken.

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Excellent move! Add more longs if 1H close above 52

Trade attivo

We are reaching our first TP soon.

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Take some profit of the Monthly R1 TP1 (yellow line hit). Solid break above 1260 and retracement wll add more long.

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Retracement is expected. FOMC mins in less than 24 hours. It will reiterate what has been said and I suspect market will priced in this interest hike.

Long orders set at 51 area. Once PA shown bullish move, load longs, target is the 2nd TP.

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Overall SL will be shifted up around 46 candle close.

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Sorry for the multiple updates. I had add small longs here.54 looks like a good support from PA. SL below 46. Another longs will be above 62-63 candle close.

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Final long loaded.

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We are around 618 now. Remember gold like to retrace at 786 notoriously most of the time. For you guys who dont want to take the risk, remain the SL at solid candle close at 46 area. I will wait how this develop after FOMC mins comes out later. History may repeat itself.

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1H close still borderline 46... let's wait for FOMC.

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Take half profit here at 56. Upon breaking 62, add long.

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Can add long here at 55. SL shifted to 48. Price shouldnt visit 46 again if this is a bullish run.

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Nothing else to do now except waiting till Friday NFP...

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Keep loading small longs at 618 or 786 and TP bit by bit near 60... Unless broken higher, we load more.

Rinse and repeat. This is range trading. SL below the uptrend slope....

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Another long loaded at 618 area (1249-1250) area.. Enjoy the ride.

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Sorry, near the Pivot area..

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Rinse and repeat, take some profit at 61 just now. We are still at the range, remember this. Reload long again at lower level or break up high

Trade attivo

So now I have 3 position still active with lesser size after we keep taking on previous resistance.

41, 50, and 60 long. Now All SL shifted to 50s area.

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This is the moment.. NFP, we are flirting at Feb High. Bulls want to see this higher, next TP is higlighted in green. Bears will want some action as well. Good NFP will push gold down, but always watch for candle close.

Personally gold shouldnt break below 60. But you never know. Trade safe!
I am preparing long order at 60 and 58.

ALL SL shifted at 48.

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I also added a a small long here at 63. It provide support for the past hours and it's the pervious Feb high close.

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We are reaching the ceiling of uptrend slope (white thick line) Tighten your SL. ALL SL Move to 59 now.

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Its been 1H since the NFP report, remove all long orders, it is invalid now. Price houldnt be going down to 60 anymore. If it is, It might start a pullback. Watch the candle close..

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Final update for this week...

Final hours of the week. I dont expect much.. I am not sure.. but we shifted our SL to 59, so if it hits, it hits. We have a good run this week. No losses. Just sharing what will happen in few hours. or maybe we close at the range...

Have a nice weekend.

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And........... I'ts good to tae some profit here.. or even close if you are not comfortable. Your trade, your money.

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I hope you guys reduce the psotion according to my last chart. I knew something wrong somewhere. I did close a bit at 65.

That was fast. Putting and end of our solid run since last week. Depending on the candle close, we might have bearish setup..

Now have a break and good weekend. Cheers..

RoboCash

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RoboCash