It seems to me gold is flagging. I will try to buy the breakout. One could start a smaller positionn when 7hrs RSI gets oversold and add to the position if we break out.
The breakout will be confirmed when we have a significant close above the blue trendline. I highlighted by a green candle. I don't suggest a heavy position entry here as we might test 1215 at the bottom of the channel.
LONG ENTRY : when we have a close above the blue trendline .
Commento
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Commento
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I have seen this trick before. This is typical how banks fleece bears It looks like a breakdown of the flag and in the last 15 minutes of the hourly candle they turn it up and break it out to the upside.
Trade attivo
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Commenti
NeverNO
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@ chartwatchers - i wrote to you
"NeverNO 11 days ago
@ chartwatchers
you better go short @ 1260 and maybe @ 1285 with target 1201 & 1135"
that means gold is steel not on his target!
chartwatchers
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@NeverNO,
Thx for the advice , but I don't short gold in the middle of the intermediate trend.
I was flat during the last few days opened the position 2 hrs ago:
2 hours ago Trade active
"that means gold is steel not on his target!" I don't think gold is steel.
"NeverNO 11 days ago
@ chartwatchers
you better go short @ 1260 and maybe @ 1285 with target 1201 & 1135"
that means gold is steel not on his target!