websouth 

Pretty directional day. Broke the 20 level tested it and headed north again... if it holds then next stop 24-29

I think we will revisit $1,650 area as well as $1,590.
Also, there has to be something big (similar to sovereign debt panic or US debt ceiling vote) to move gold higher above 1,705.
cheers
D

I obviously want it to break the 1624-29 area. However more than 5 bars in a direction is a little unusual and I would start trailing a stop at that point - that's where we are on daily, hourly. So a little cautious of a local top here. This has been a big supply area before. I agree we need a catalyst to explode.... There seems to be plenty of that brewing...patience

Nice morning run up

yeah - bang
the sound of summer ending...




this is what I'm digging

some range

ok - here you go. I even included a short fake channel break and the 100 pip gap up on election day...






That's about as far ahead in the future as I can go before I get too many bubbles in my magic eight ball from shakin' it so much...

Overview

weekly

downward sloping trend line to watch



daily

broke the wedge



h4

flying wedge of death... could fall when hits top of the wedge (red all the way to green) as mr dario1 has implied.




h1

nice breakout today above 26-29 level

Yes, gold is definitely preparing for the next upswing --the redistribution is almost over

dario1 

Yes, gold is definitely preparing for the next upswing --the redistribution is almost over

Up 8 pt so far
but it still have a room to go up -- enjoy the ride
D

I think we should expect some profit taking
what do you think?

There will be some eyes on the weekly trend line...so yes profit taking potential




here is what I have on 5 minute
you could put a stop @ 61 or below that sloping trend line