Gold: Corrective sequence: Sideways or down?

We are close to getting a trend-alteration with most likely sideways movement until June.
Look for price behaviour around the yellow line. If it goes significantly below that line, it can get ugly. When price touches the yellow line for the second time, it is time to load up longs with reasonable stop-losses if you are a gold-bull like I am that has 1592 as target.

코멘트:

Good, good, good. Yellow line holds. For now.

코멘트:

Monitor to enter long if yellow line holds!

코멘트:

Yellow line broken, monitoring close. This has a potential for a uglier year for gold than first anticipated.

코멘트:

There won't be a consolidation-like pattern playing out in the range like anticipated by the green outline as we broke down from the yellow line and we are getting a close below it. Rest of the year is now up to the dollar. I will do further analysis. Miners' bear story did again play out and I anticipate sub 1200 in this "cycle" before we get any meaningful bounce.

코멘트:

Further analysis shows that there is one remaining hope still for the consolidation scenario, applying this channel to the area.

코멘트:

코멘트:

Close above 1224 is a good indication of the beginning of a reversal. Swing low zone is 1228, but Rome wasn't built in a day :)

코멘트:

Close above 1228 is further indication that daily cycle low is in

코멘트:

Playing the game of consolidation. In the mid-range of the activities atm. Positions to be taken on the top or bottom, not in the middle.

코멘트:

Entered short at 1278.5. Looking to add at 1283 - 1285 - 1290

코멘트:

Monitored PA and entered second entry at 1289.

코멘트:

Idea is still valid, but timing on move a bit off. This is what I find more likely regarding timing and crossing.

코멘트:

Intersection between orange circle and gann level is 1207 ish.

코멘트:

I am quite sure we get an election spike reversal like Trump-election day tomorrow.

코멘트:

However, with a smaller spike up of course. But the candle can be ugly :)

코멘트:

Churn churn churn. Trend should be changing.. But to what, that is the question. We have intersected the orange circle now, but we havent touched the bottom channel. This latter part makes me a bit sad.

코멘트:

1207 is reached. Long position entered.

액티브 트레이드:

Red outer circle reached. Let's get this breakout that we all have been waiting for.

코멘트:

We are almost clear of the hurdle, but play it safe here as we approach weekend.

코멘트:

By taking the top, and align it with consolidated candle and mid-section 2016 Dec low, we get the following: