This pattern was never triggered and is no longer valid.
April 30 post:
A possible bullish Fib Cluster Pullback trade is developing in Gold. The Fib cluster zone is currently between 1264.20 and 1253.20. It contains a combination of 3 Fib retracements or extensions from a dominant MM with neutral retracement and a supporting1 MM with supershallow retracement shown on a daily chart. Further supporting this zone is a previous 4 point downward sloping resistance line that is now serving as support, a 6 point upward sloping trend line, and a previous swing high trend line. Prices are still also above both the 50 and 100 DMA's. A move above 1272.80 triggers a long entry with stops below 1253.20. Target1 @ 1294.40, target2 @ 1300.90, and target3 @ 1307.70.
No comments:
Post a Comment