Gold Weekly Summary and Rules to Follow

* Elliott down trend waves finished at the suporting zone 1804-1810 of D1.
* Retracement from 1858 down to 1810 confirmed the retesting of supporting.
* 1870 which is MA300 of H4 precisely reached on Friday.
* New pattern starting from 1810 is going on.
* New bull & bear boundary: 1845.

Next Monday:
* 1st pressure: 1870. 2nd pressure:1890.
* 1st supporting: 1855. 2nd supporting: 1850.
* Bull & bear boundary: 1845.

Rules to Follow:
* Bull & bear boundary is critical for trading. We suggest $2 beyond for SL. If the boundary postion breaks, most probably the trendance will be reversed.
* 1st or 2nd supporting position is for buying entry or TP (partial or total) of selling orders.
* 1st or 2nd pressure position is for selling entry or TP (partial or total) of buying orders .
* $1 difference is acceptable. E.g. supporting 1850, means 1849-1851.9 is the buying entry area.
* $5 beyond supporting or pressure position is our max SL.
* In daily short-term trading, we suggest $7-$9 profit to close at least half of oders and leave only 1/3 or close all the orders when $14 profit achieved.
* In long-term trading which has been confirmed by pattern, we suggest keeping at least half amount of orders when 1st pressure position reached and move SL accordingly to bull & bear boundary position.
* In long-term trading, retracement of $30-$50 is normal, dosen't mean the revesal of trend (refer to Elliott Wave B: 1860-1890). That's why we still ever kept most of our selling ordrs entered at 1955-1959 and closed most orders at 1806.