Gold Weekly
Does 1180 sound familiar ?
That’s because it IS
So far for all the hype..all we are doing is retesting HEAVY resistance from below
1180 ! Lest we forget
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if we fail to close above 1187.50, as per Martin…..rut roh (weekly close)
Looks like we are done right here and now
So If in Martin You Trust
Short away
Maybe just to $1150ish where Gold as I laid out in my post earlier I think will then break up to $1230ish.
That’s a bold call Chuck
The top rail IS 1225 so I could see that BUT 1180 is HUGE
Suck em in before the massacre baby. Did you see my “Wolfe waves and ABC’s” post? Seems like it’s definitely plausible. Is what Mark was originally calling for too.
Sir Schism has an awesome fractal chart that also calls for this. He said he was looking at his fractal last night and an ABC B pullback on the fractal would take us down to $1155! The Wolfe wave target is $1150. Backtesting the triangle breakout is just slightly lower.
“we need a daily closing above 1206 to suggest pushing higher. If we can get a weekly closing above 1210, the we can see a pop up to the key technical resistance at the 1285 area”….it doesn’t even look like we will get even 1187.50 closing today…I think I’ll go buy more DUST
I was thinking the same Carolynsue. I added more DUST yesterday at $11.57. Will probably add more today. $1,197.50 isn’t going to happen and the structure on the way up has been thin and weak. I think this will come crashing down next week.
I meant $1,187.50.
What chance do you give for the coming pullback just being a backtest of the triangle breakout, a healthy Wolfe wave pullback and a point b to build energy for one last thrust to $1230ish?
1180 could also be considered a push into the old resistance area..its not necessarily support.. 1180 the old bottom
That is the whole point of my post and chart
1180 was old strong support for 2 years now we MUST retest this and it is invincible resistance !