Friday, December 18, 2015

Gold will hit 1037 target

So, our thoughts on gold market, that it looks bearish has been confirmed by yesterday's drop. As we've discussed on our weekly research - now bulls have only one hope, that market will form some kind of pattern with two bottoms. They could be classical Double Bottom or DRPO "Buy".
Personally I do not believe in Double Bottom here. Because market has uncompleted AB-CD target at 1037 area. That's why I call you to skip bullish grabber that has been formed yesterday, since it has big chances to fail.
For DRPO moving to 1037 is positive moment. That's why we call you to not have any long positions until market will meet 1037 target of big AB-CD pattern:
gold_d_18_12_15.

On 4-hour chart market is forming butterfly pattern that particularly should lead price to major target. When second part of DRPO takes the shape of butterfly on intraday chart - this is positive sign. It makes possible upside reversal stronger and let you to anticipate DRPO entry. This in turn, gives you tighter stop and increase odds to shift trade to riskless one, as soon as market will start technical bounce out from 1038 support.
BTW, it will be not just AB=CD, but 4-hour butterly and MPS1 and this is not really bad combination:
gold_4h_18_12_15.
That's being said, our recommendation - wait when market will hit 1037 first.

Open a LIVE/DEMO Account & Win Cash Prizes...
A total of 4,000$ every month is given to the winners! 
http://tinyurl.com/otmm79o
HiWayFX is proud to announce the launching of World Rally Forex, a monthly Forex competition which will enable you to sharpen your trading skills and win real money on your real account with no risks involved! Your goal is to make it through the finish line at the end of each month and win the maximum points from each one of the disciplines. Highest Number in PinP – Lowest Number in Draw Downs and Highest number in Profit Factor. The competition is reset at the end of each calendar month. You can enter the upcoming WRF via the contests area of myHiWayFX

Discover The Generous HiWayFX Bonus System 
and the available options Right Away!

Official HiWayFX Representative in Romania 
http://lordoftruth.blogspot.com/
samer@hiwayfx.com
samer@hiwayfxglobal.com
+40 734 277 757

No Deposit Bonus...
Free 0,25 grams of Gold with Bit Gold Sign up offer!
Register Now, receive 0.25 gr of gold, and 0.25 gr more the day of your birthday.
Buy, Save and Spend Physical Gold
 http://bitgold.com/r/Cs1aDI

YOU ARE NEVER LEFT ALONE

YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS 
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED. 
 Do your own due diligence. 
No one knows tomorrow's price or circumstance. 
 I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader. 
I do not accept responsibility for being incorrect in my speculations on market trend.