Sive Morten
Special Consultant to the FPA
- Messages
- 18,654
Greetings everybody,
Gold market confirms our suggestion of big rally. Previously we already said - we think that really big money flow stands on the background of this action. And this is the reason why we suggest soon impact on stock market...
Currently there is not much to say on gold. As all strong resistance levels have been broken - it becomes easier to proceed higher. Now we could watch for 1550-1560 area, where potentially some pullback could happen, because of previous top, Fib extension target and daily overbought. Potentially, we have perfect thrust here, and will be watching for B&B "Buy" or "222" Buy pattern, based on it. So daily traders have nothing to do today, I suppose:
Scalp traders could follow the tactic of using small harmonic retracement on 1H chart, catching small bullish patterns, such as "222" buy. It is high probability that gold will proceed the same manner action till the 1550 area. Now it keeps small harmonic retracement very accurately. But this is only if you confidence enough with this type of trading way.
Gold market confirms our suggestion of big rally. Previously we already said - we think that really big money flow stands on the background of this action. And this is the reason why we suggest soon impact on stock market...
Currently there is not much to say on gold. As all strong resistance levels have been broken - it becomes easier to proceed higher. Now we could watch for 1550-1560 area, where potentially some pullback could happen, because of previous top, Fib extension target and daily overbought. Potentially, we have perfect thrust here, and will be watching for B&B "Buy" or "222" Buy pattern, based on it. So daily traders have nothing to do today, I suppose:
Scalp traders could follow the tactic of using small harmonic retracement on 1H chart, catching small bullish patterns, such as "222" buy. It is high probability that gold will proceed the same manner action till the 1550 area. Now it keeps small harmonic retracement very accurately. But this is only if you confidence enough with this type of trading way.
