So If we know that 1276 is a gate level and if we know the gold behavior with these levels quote: " Whenever there are Gate levels, at some point, Gold likes to break them and go opposite direction without reaching the gate level break - target. " So it seems to be the case here with the gate level again.
So that being said if we can break 1282 Swing H by 2$ I should be in a long position! And I will keep buying every daily close ( 1 hour before the close ).
There are two simple things, break of 1276 gave the target 1254. So either we go down and reach it, either we go up and come back later in a month or two. I raise my hand for the second option because that is what usually happens with gate levels. Who said it is obligated to reach the target after a breakout? Nor it is a false breakout. It is a sign written down in the book that 1254 is a target for next Bear trend.
Even if we go to this target right now, I will still keep buying 0.1 lot. My and your daily close buy will resist the bears to take Gold down to 900$ ( lol )
On my table on weekly and monthly levels, 1265 shows. 1266.X was also the 182th day upper level (check candle stick) after the low.
Gold came to see 1260 earlier. What I cannot understand is how this all opens up to 1254 with second breach of 1276, is there a fib opening door which cannot be closed upon level testback? I thought the law of 3 (testbacks) should apply here, or do I misunderstand?
TheZabisyu
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@viking83, If 1282 will be broken up now by 2$ and after that, it will test 1282 back and don't break it 2$ down, then 1254 is invalidated.
UnknownUnicorn540299
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@TheZabisyu, Yes, then we agree, doors must not only be possible to open, but also to close :)
TheZabisyu
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@viking83, If break 1282 by 2 and go up without pulling back to 1282 ( test back ) 1254 still valid.
sigafovbio
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Thx 4 e idea
Lilie-Lily
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we break 1276 bruno. the lowest today 1273 but just higher low from ysterday low
rsasvae
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Please share more of your views on XAUUSD, really love them..!
Gold came to see 1260 earlier. What I cannot understand is how this all opens up to 1254 with second breach of 1276, is there a fib opening door which cannot be closed upon level testback? I thought the law of 3 (testbacks) should apply here, or do I misunderstand?