Disliked{quote} 12pm NY & 5pm NY supported your long call.. you should have had patience.. IF the ascend continues until NY morning (even if its with zig-zag), today could be a nice bingo long day.. I'll share a call IF my favorite patterns form today..Ignored
What added to the long doubt is the bearish engulfing pattern on H4.. From past history when this pattern occurs, the chances of it being reversed straight away is small..
From weekly perspective:
Last week there is terrible demand such that gold cannot move up.
On Monday and tuesday, there is a little hope when demand support 1190 (Also seems like fundamental for a while support -- Yellen not hiking rates at least in the coming 2 months)
With support established, it is only natural for price to probe higher, which is evident in wednesday and thursday action..
The thing is with all the probe, it happens only in Asian and London morning session, where volume is smaller than US session.
So since the probe high has been done, I think today we will see down day..
I am waiting for any peak to occur to short... Or maybe just watch the show today to take action Monday...
If there is a peak I will prefer it to come down to 1207 below for a while ... then get bought to 1210 or somewhere there... When this hold again and preferebly if there is a pin bar, I will short...