For those of you on the bullish side. I would say if gold closes anywhere inside of this pattern or above, you have a clear case for the 2250 zone. The bears need to think about this: if gold is going to make a real turn, it most likely is not going to be stuttering around this area for so long. When it happens, we will most likely get a long wick to push us back down. So this
theory of a big move up to flush out the bears and then a move back down would technically satisfy
both scenarios. Now I am bearish overall and will hold my positions because of how I trade, I have left room to be able to add short on any major spikes up. I would make sure any bears are capable of handling a spike like this because, before a real turn, this is most likely going to happen. Not 15 dollars, but 50 dollars, something big on a big turn. For those of you
who have bearish targets, this would not affect you in your time span; it would most likely
play into it rather accurately. Again price would need to close inside or above this pattern on the daily today to be in play. It would also offer a nice risk-reward trade with a very clear hard stop under the daily.
theory of a big move up to flush out the bears and then a move back down would technically satisfy
both scenarios. Now I am bearish overall and will hold my positions because of how I trade, I have left room to be able to add short on any major spikes up. I would make sure any bears are capable of handling a spike like this because, before a real turn, this is most likely going to happen. Not 15 dollars, but 50 dollars, something big on a big turn. For those of you
who have bearish targets, this would not affect you in your time span; it would most likely
play into it rather accurately. Again price would need to close inside or above this pattern on the daily today to be in play. It would also offer a nice risk-reward trade with a very clear hard stop under the daily.
Attached Image (click to enlarge)
TechKnow
2
but with this: "As someone who has studied candles for almost 20 years. There is no such thing as a bearish dojji on the 15-minute chart. What I mean by that is that 15-minute candles mean nothing in gold. Hourly means nothing. 4 hours and up have some meaning. Do not trust candles on smaller time frames, that is not what they are made for. Please do not fall into this trap. They take large time frames to study market pressure and give direction better based on more data in that timeframe. " 
