Low volume stacking up. Waiting for a correction to enter LONG.

FX:XAUUSD   Emas/Dolar U.S
Well, as you can see in my chart, my old objectives just played almost exactly, not just the targets but almost all the swings, which is for me kind of interesting.
But back into reality, I keep drawing possible scenarios for the following weeks. Check that my targets and congestion lines are the same as before I just extended them into the future to picture my stop levels. I'm going LONG as soon as we get 1296-1300 levels. Bear in mind the convergence of S&R (congestion lines) with trendlines and channels. Those are the levels I'm likely building up my longs all the way around.
In the chart you'll see my full S&R and S&D analysis.
I hope it is useful.

Great new year start!
Komen: Price stabilized, long 1 ounce at 1307. Let's see how it behaves. Buy limits at 1298 and 1284. One ounce each.
Komen: Worse case scenario, price dropping down to 1200-1198 where major support is located. I'll manage my risk based on that. That's about 110 usd per ounce in risk (too low). Remember we are after several years of range trading in gold, not able to crush 50% fib from the explosion in gold prior to 2012.
Why I see price not going below those numbers? Gold stocks are signaling a healthy recovery, they might explode upside in the following 1 to 2 years, starting now. I also see commodities trading higher as PMI continues to rise above expectations. I also see inflation (CPI) hitting US primarily not via aggregated demand (which is weak to non existent) but by rising production costs. It's a feedback loop. Check Oil and Silver as examples, I see a lot of potential there.

Have a nice day!
Komen: Quick one, remember tomorrow and friday's numbers. We might have a correction if some of those numbers are "good" in the short term, but pay special attention to trade deficit numbers.
Komen: Quick update, if tomorrow's NFP looks "good". We might see the expected 1290, 1284 correction numbers. Be prepared :)

Good luck
Perdagangan tutup: sasaran tercapai: BANG!
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