1. Our Wed., Jan. 28 April gold report (and live meetings) forecast a quick tradable decline in April gold from approximately $1288 to $1277/$75 expected into Thurs., January 29 (+/- 1 day).
2. April gold declined quickly into today (Thurs., Jan. 29) and completed the $1277/$75 downside target, making a session low of $1264.20, so far, completing the trade. Will message any further entry or indication in April gold as the market confirms.
1. April gold continues to react off the Wed., January 28 (+/- 1 day) daily Reflected Wave bottom forecast in recent live meetings. This bottom occurred one trading day early on Tues., Jan. 27.
2. April gold is expected to continue to decline and test/attempt $1277/$75 into Thurs., Jan. 29 (+/- 1 day). Any hourly or especially daily close above $1296 will negate this forecast. While a relatively small decline, it is tradable.
3. From this point forward, any intraday hourly close or significant break below $1285 will place April gold into a ‘Sell’ position for the above noted decline.
4. Once short, a protective buy stop should be placed at $1292. This stop will be moved lower as the market continues to confirm. Will update as the market continues to confirm.