1858 CST Gold futures rising out of 40 day trough
I have been tracking gold this week and it seems that there is a 40 day cycle that is coming in rapidly.
Todays move away from VWAP and other cyclical evidence shows that a bigger buyer came in midday and hasn’t let up since, a rally through the 20 day FLD is commencing.
Resistance to current prices at 1950, but it seems the earlier the better for this rally.
Not a trade entry, for me, personally, I have to watch the ladder to get in overnight with someone else opening the door to that trade. The only stop available is below today’s low at 1915 which is much too far.
The only way to have caught this trade was to see the intraday cycles start melting up and over VWAP and get behind a big player.
There is a few ways to enter, but I prefer to wait for a bigger player in the overnight.
Volume profile shows HVN at 1935 and it may not happen due to the situation, price may just go directly to target at close to 2000.
Tomorrow may be a 10 day trough forming as well. So that may provide entry for better price.