GOLD - The range rider

This idea is simple. It seems that the 2016 high will be the line in the sand.
As I posted a few hours ago in this idea I entered a long position at 1389-1391:

Target : 1440$.

Commentaire:

I still have a range, but after the morning drop I see a triangle forming:

Commentaire:

We were unable to tag 1383 two times in a row.
So this more and more looks like a triangle.

Commentaire:

Following the triangle pattern. This bounce was nasty.
Almost everybody is short.

Commentaire:

Powell's testimony is an hour from now.
The bounce was caused by currency movements

Commentaire:

XAUEUR is bouncing too. +0,5%

Commentaire:

It's just a guess but I think the testimony speech went out , so a few insiders already have read it and they started to buy.
If it is the case he will talk about the rate hikes at 16:00 Budapest time.

Commentaire:

*** Rate cut

Commentaire:

Very strong...
The dip was bought in the same hour.

Commentaire:

FED minutes 2 hrs and 15 minutes from now.

Commentaire:

Many' Fed officials said in June they'd be willing to cut interest rates if uncertainty still weighs on outlook, minutes show
Only a few FED officials argued against the rate cut in June - Minutes show.
Asia will buy this.
Path is clear.

Commentaire:

Commentaire:

Getting close:

Trade fermée manuellement:

Close enough.
Waiting for the next setup. Breakout from the triangle, or the lower trendline again.

Commentaire:

We might get back into the long position soon, as it looks like a flag now.

Commentaire:

Let's see what happens at 1419$.

Commentaire:

Beautiful