GOLD - Broken flag

8 feb 2023

After we tried to play the bounce , now I'm back to the original idea.
The daily cycle decline can but almost never lasts for only 2 days.

After the 2 red candles what was printed last Thursday and Friday the decline slowed down but not finished yet.

The next target where the daily cycle low can be printed is at the 38,2% FIB retracement (1829$) or at 1850$ where the 50 SMA runs.

We have 3-4 days for this to play out.

Time window: 70-90 hours

9 feb 2023

Nota

Fantastic how the trendline is working. Many people are watching this flag now.

9 feb 2023

Nota

9 feb 2023

Nota

Broken flag

9 feb 2023

Nota

Monday’s candle low is at 1860.76 that will be taken out by the close of today.

9 feb 2023

Nota

On the daily chart, we might get the tag of the 50 SMA by the close:

9 feb 2023

Nota

1860.76 is taken out:

10 feb 2023

Nota

50 SMA tagged this morning:

10 feb 2023

Nota

Backtest of the flag:

… and the 50SMA

10 feb 2023

Nota

Textbook movement…

10 feb 2023

Nota

I’m waiting for this final movement in this daily decline. Hopefully we get it today and I can go into the weekend without position.

10 feb 2023

Nota

Where the green range is coming from someone just asked:

10 feb 2023

Nota

Green range origin on the daily

13 feb 2023

Nota

Waiting for this final drop.

14 feb 2023

Trade chiuso manualmente

Cause this trade at 1860.

14 feb 2023

Nota

I have a feeling we are going to print the DCL right here at the 50 SMA.