Gold

Sorry, that should be 1724 not 1722

I've just gone long on this at 1722, just below the 38.2% Fib of the 1705 to 1735 move. Main reason is the breakout of the 1728-1735 hourly trading range giving a target of 1721.

When the next candle appears on the daily chart.

Remo,

When you talk about a close above 1739 i get, but what time does gold close?

Its just ig seems to have spot gold open forever?

Many thanks

Dont forget the 123 low

If this can finish above 1739 then that will give the 123 low signal .This then should head towards the trend line at 1780ish.
so basically looking to add to my existing longs.
The 123 low is for the short term only as it needs higher highs to continue hence why the 123 low could be a factor. For proper 123 lows would be used after a long down turn. Im using this for the short term trade as gold is still in the bull market and in a clear up trend .So basically looking for the resumption of the original trend.
Hope that makes sense

dyor

watch 1737/39 area on gold and esp a break of that neckline..

Gold is looking ripe for a break.

DYOR