Gold Bug

Jul 27, 2017

As Expected FOMC help the Price moment. However Keeping 1272 and 1296 in mind I found some different structure development to consider. This expanding diagonal is Bear, No doubt. The rule is we cannot go beyond 1267. If we reject from 1267 where will be our next target. The level I consider is 1228. Still it against the PA so I did move the my ninja trading weapon which is "Stop Loss" to 1257. I should try shorting @ 1267 keeping my Longs from 1249. I kept my Long because of this structure as doubt and 5 waves completion of UJ 4h chart. It went well. and GL to all. The momentum is getting weakening and it drop more than we expect.

The reason we are building 3rd triangle in the chart. It's at early stage. If we drop to 1228 I am 100% sure it's 3rd triangle targeting 1284 and 1296. It's too early to say.

Jul 29, 2017

Note

This is gold..! It didn't close below 1267. Buy the Dip Mantra exists till 1297. GDP is good but went opposite direction. But didnot break the resistance. So next week there will be a move after NFP