Gold Possible actions for next week.
--->1230--->1220-->1240--->1230--->1236---->1220
--->1230--->1220-->1240--->1230--->1236---->1220
코멘트:
Need to watch the price action around 1230
코멘트:
1230~1233 area, very strong resistance. Unless something happens next week that will rocket the gold, 1230 area might be the top. 1250 is very attractive to gold, so gold will try hard to get up.
코멘트:
It's possible that gold will soar up to 1235 and then drop like a rock.Re-enter the long at 1222/
코멘트:
The long wick and the trendline for both bull channel indicates that 1225 seems to be the top for a while, let's see the price action around 1216 and 1211
코멘트:
EW waves incorrect, but I think gold will follow the ABCD to 1240
코멘트:
Expect that it will retrace to 1225 at least.
코멘트:
---->1226(1228)--->1240--->1222
코멘트:
Watch the price action around 1223, if it breaks, new bear cycle might be coming.
코멘트:
Not sure if it can go to 1240, 1236 is far enough. Usually for a 0.5 Fib(1230), a big retrace is expected.
코멘트:
I will short from 1240~1242, if it moves higher, continue to short. Pre-position my short from 1240 to 1245
코멘트:
It might go up to 1244~1245
코멘트:
1240~1242 seems to be the top
코멘트:
So strong, I would expect 1244~1246
코멘트:
seems that 1240~1241 will be the top for a while. When falling to 1232, considering to long it to 1240 again, then short from there. Since this might be a bullish cypher pattern.
코멘트:
Reach 1244 and rejected. It should drop to 1234 then up again.
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