Gold (8-12 May)

Strong DXY, and Gold has no bullish outlook so far, unless it can close above 1230 4H candle close. Short till 1217, 1209, and 1196 possibly.

Trade active:

Watch for 1228.

Comment:

TP 1 done...
TP 2 to aim. SL shifted down...

Comment:

Comment:

Gold shouldn't close above S1 in 4H. If it does, close short. We have reached TP1 and SL should move on BE yesterday.

Comment:

Structure is still bearish, shift SL above 1223. Watch the X. Today is Thursday, is either crash or reverse.

Comment:

Another thing to note. 1D candle is INVERTED HAMMER ON SUPPORT 1217.. Bullish move might be coming today. If it breaks 1223, I will go long and SL below 1215. Swing trade to at least 1248.

Trade active:

Nothing bullish yet.

Comment:

USD good data... 1209 might be near...

Comment:

Well, good US data and no downside push.. It can only mean one thing.... Remember my post few hours ago about inverted hammer on the support?

Comment:

Wait for confirmation, at least 4H, can close your short now. Always protect your profit (those not SLed yet)

Comment:

Be patient...

Comment:

Looks like Thursday started with a bullish move. Watch the 0.382 (1296.60) area. break that and we are good to go to at least 1248.

Comment:

Watch 1H candle close.. long to 1248!