We are outguessing the end of a pullback within a pullback ... there is another leg down within this 4th wave in the sequence, with heavy resistance coming into play at 1325 the downside is wide open.
We have a window of opportunity with inflation softening and risk fading via Mueller to complete a pullback as far as 1255/1260..Tracking very carefully the coming sessions in Gold.
Thanks for all the support with likes and comments etc.
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Super moves here for the open.. well done shorts
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An update on the H4 chart
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Entering waterfall mode here
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Superb moves here, well done all shorts!
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Sharks fully positioned for NFP .. eyes on 1260
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Clearing first targets at 1275... well done shorts!
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Some mild profit taking being done here, not expecting a meaningful floor till 1260.
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Tracking the final crumbs here for 1260 this week
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After Fed we are needing to clear 1260 before European inflation tomorrow...
Trade fechado: objetivo atingido
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Close but no cigar... no point in holding it for any longer. Well done all still riding it!
I totally agree with this - posted similar setup on my page too..
ridethepig
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@zorrays, Nice chart, good use of fibs! Targets here start coming in to play at 1260.
zorrays
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@ridethepig, I totally agree - i forgot to draw an arrow to the base of the trendline.
Boon2
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Nice, I agree and am also looking for the sell.
ridethepig
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@Boon2, Thanks, strong resistance came in at 1325/1324 ... you will need a huge help from somewhere if we are to break above
Boon2
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@ridethepig, Yes I agree, It's looking really good and I got a 2nd position both at BE. H4 looking really nice as well in my view and I'm going for the larger targets.
ridethepig
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@Boon2, :) much better and nicely defined targets and invalidation levels... good luck mate, enjoy your ride!
Boon2
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@ridethepig, Cheers, it's trades like these that are my bread and butter, even if the top gets broken we will still get the H4 C down as a running or expanding flat so a smart trader just can't lose on these setups like this, even if their wrong and the top get's broken, at worst it's BE or very small loss.