Since 2016 lows at 1045$, it has been moving in choppy fashion sideways and we are looking for higher moves next on long term basis – target zone of 1350-1375 which could be plausible within time period of 7-9 months ahead.
Short Term Strategy-
07:45 Hrs 17th Sep 2018
Last Price-1199 $
Plan A Any push upside to 1200-1205 $ Range could be used to sell on short term basis with strict stops above 1210$ & downside target shall be 1195 & 1189$
Later once you get a fall in desired zone below 1190$ from 1200-1205 range –it could be used by risky traders to shift in the bull camp for higher targets as mentioned in long term strategy & most likely gets confirmed once it starts moving above 1210$
Safe Traders who want to trade gold on long side- should wait for prices to cross above 1210 & hold above 1205 for higher targets upside.
Long Term Strategy
Plan B Any sustained move above 1210$ can be early sign for upside target of 1300 & 1350$ in days & months to come ahead.
Abhishek sir what exactly is your favorite view from here bullish or bearish
WaveTalks
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@AbhayAgrawal, See -It is not possible to track short term basis as it involves lot of time and unfortunately I am short on that front. So, I will hold position with trailing stops at 1210$ & slightly below for that target of 1350-1375$ range