spot gold 15 min over the last week shows 2 trends
$1.30 box size by 2 reversal hilo plot
note the 1244 pivot..horizontal red line
needs to stay above 1250 areato maintain that new uptrend
1261 trend res/purple trendline
lets see what happens
lol...the 1261 minor res got blown out within a few minutes
lets look at the bigger picture
15 min data from new year
2 uptrends..green trendlines followed by a consolidation
then a fake / a breakout above the horizontal red line...shorts quickly sent it back into the supp area
then on 23rd/thursday the start of a new uptrend which then broke higher
emerging market debt possibly the reason for a true break and not another fake
so now we have a true uptrend to tack
fakes can be very profitable...dont seem to see them that often
OUTLOOK FOR NEXT WEEK
we go back to that latest uptrend and track it on the 5 min
areas to watch for signals
1.could break higher..light purple horizontal res at 1272 area
minor res /red horizontal at 1269
prev breakout point 1265 area thick dark red horizontal with trend supp
then a bigger confluence area at 1257 area..trendline and horizontal lilac lines
lets see
spot gold
outllook for next week
30 min data tells us a few secrets
trend gets tested at 1253 area /green trendline
1246 area and we get the beginnings of negativity
res is horizontal red at 1274 and look left at 1288 area/orange horizontal
these are areas to take signals from..uneless big news and these break
