If price goes to 1207, I will load up with longs. By mid July, we should break out of the consolidation in the 1260 intersection with first target 1380.
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We now left the upward sloping channel into the downward sloping and tested the mid-range. Let's test the bottom. We need to, since gold chat members are buying the dips still :)
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If this idea is correct, there is potential for a 40 usd drop on GDP numbers.
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Left upper channel and entered into lower. Interesting.
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Still some lower level expected.
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Just a slow slow moving S***.
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Planning to buy on NFP:
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Got a bit of a FOMO, so started with 1st small position at 1214.
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Second position entered at 1209.X
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Initial target of 1207 is reached.
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And now.. bottom of channel reached. It did bounce nicely from there. Let's hope it holds.
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It's beautiful when bears gets crushed from time to time. Gold isn't the asset u can be coming late to the party. When things are most confirmed, it's the most dangerous.
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Nice weekly close, but below uptrend channel. I still have faith in the shiny will reach 1350
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And then we are back into the good ol' upchannel. How delightful!