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Gold Sketch Part 1 :

Updated: Jul 22, 2022

The two important dates to watch are the 1st August and 8th August which both come in as intermediate turning points so should expect a significant shift out of these dates . Please bear in mind at the moment this is just a sketch outlining two different scenarios so over the next day or two I will try and put together a more comprehensive post detailing price targets and range projections . The first date I am watching is the 14th July which came in as a Minor Cycle so we could get a small move up from this point as outlined in Curve No 1 and if we do hold above this date and move higher we could be up till the 1st August so this date even though a Minor point is a leading indicator so we need to hold above this date in order to run against Curve No 1 so this is the first scenario that could occur and if you decide to trade this small move a time based stop should be placed under the 14th July Low .

The second scenario is price moves down and breaches the 14th July Low and if this occurs we know that the trend should continue down into the 1st Aug which is where Low is indicated . This date is our first signpost and if the 14th July is broken we could have another two week run down. The second intermediate date to watch is the 8th July which could come in as counter trend high so it will be important to follow the process and firstly watch the 14th July level to hold and if that zone remains intact there is a good chance we will be following Curve 1 and then we could have around 14 days of upside into the 1st Aug so that would be the first section of the swing to concentrate on and once we approach the 1st Aug we should be in a clearer position to see how that point is setting up .

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