ridethepig | Gold Market Commentary 2020.01.16
This chart comes after a request from @radyan899464 and a very good time to update the chart as we reach strong support from the initial wave of profit taking after our large swing. Those tracking the previous swing can see in the diagram here:
1595 triggered a lot of profit taking and covering, we are now entering into accumulation and once again get ready to ride the pig with initial targets in Q220 at 1650.xx via US Election repricing (more on this later in the Live room). It is a key area as it will effectively become the differential zone between impulsive and corrective, it is clear the 'C' sequence targets have been reached on the Weekly chart:
The important point to note here is should we see failure in the case of paralysing the impulsive move towards 1650 then we must not be caught by the teeth in the saw. The manoeuvres directed here should be taken with caution.
Good luck all those looking for another squeeze higher and as usual thanks for keeping the support coming with likes, comments etc!
1595 triggered a lot of profit taking and covering, we are now entering into accumulation and once again get ready to ride the pig with initial targets in Q220 at 1650.xx via US Election repricing (more on this later in the Live room). It is a key area as it will effectively become the differential zone between impulsive and corrective, it is clear the 'C' sequence targets have been reached on the Weekly chart:
The important point to note here is should we see failure in the case of paralysing the impulsive move towards 1650 then we must not be caught by the teeth in the saw. The manoeuvres directed here should be taken with caution.
Good luck all those looking for another squeeze higher and as usual thanks for keeping the support coming with likes, comments etc!
Comment:
Breakout cooking? Smells like it
Trade closed: target reached
