GOLD - Broken flag
Updated
After we tried to play the bounce , now I'm back to the original idea.
The daily cycle decline can but almost never lasts for only 2 days.
After the 2 red candles what was printed last Thursday and Friday the decline slowed down but not finished yet.
The next target where the daily cycle low can be printed is at the 38,2% FIB retracement (1829$) or at 1850$ where the 50 SMA runs.
We have 3-4 days for this to play out.
Time window: 70-90 hours
The daily cycle decline can but almost never lasts for only 2 days.
After the 2 red candles what was printed last Thursday and Friday the decline slowed down but not finished yet.
The next target where the daily cycle low can be printed is at the 38,2% FIB retracement (1829$) or at 1850$ where the 50 SMA runs.
We have 3-4 days for this to play out.
Time window: 70-90 hours
Note
Fantastic how the trendline is working. Many people are watching this flag now.Note
Note
Broken flagNote
Monday’s candle low is at 1860.76 that will be taken out by the close of today.Note
On the daily chart, we might get the tag of the 50 SMA by the close:Note
1860.76 is taken out:Note
50 SMA tagged this morning:Note
Backtest of the flag:… and the 50SMA
Note
Textbook movement…Note
I’m waiting for this final movement in this daily decline. Hopefully we get it today and I can go into the weekend without position.Note
Where the green range is coming from someone just asked:Note
Green range origin on the dailyNote
Waiting for this final drop.
Trade closed manually
Cause this trade at 1860.
Note
I have a feeling we are going to print the DCL right here at the 50 SMA.
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