Gold Update - Red Bar Test

FX:XAUUSD   골드 스팟 / 미국 달러
Gold seems to be itching to retest an area that was important for transition during 2016.

I am still long in miners, and it has been clear over the past week that gold has broken it's downward trend.

Depending on how my natgas trade plays out over this week, I will be taking my profits from that trade and buying any dips in gold .
코멘트: Very bullish that the DXY dropped today, and gold held it's own after those fed minutes.

Gold seems destined for the transition area right now, and a strong close above 1165 on the week is key.
코멘트: NFP payrolls should give us tons of action tomorrow.

A close over 1180 for the week would be golden here for bulls...pun intended.


Thanks for your update...everything now plays in favour of gold breaking out to the upside from current "cuo and handle" formation on my charts. ..despite very strong move in junior miners not a seller..but will be adding 20% to my large position in JNUG ,the moment we cross 1176 level....the current move to the upside in juniors is very positive..because,juniors always lead the way ..before the gold price moves up or we see anything on GLD charts..current move up has also fundamental explanation..firstly,lots of people who sold before New Year for tax reasons are in a hurry to buy back their shares in juniors which are at the screaming buy prices at the moment..
secondly,there are signs that hedge funds are slowly started buying ,and despite the fact that they are trying "spreading orders technique " (diluting orders coming from different exchanges ,so its not picked up easily by AI banks algorobots analysing history and volume of trades per second) ..we can see that things started moving into right direction...
Personally,i expect a very interesting action by Friday..
GeorgeJimas leonarddavidson60
@leonarddavidson60, I agree with miners leading gold. They've been doing that all year so far and that continues to be a strong indicator of a gold breakout.

Yes there will be lots of action tomorrow after NFP.

Thanks for your continued support of my ideas, I appreciate it a lot.
@Perseus, thanks for your per my comment above ,we had a spectacular action in miners in last session ..especially,juniors..GDXJ-which is my core position is up 8%!!!!!(im not following individual miners any more ) and JNUG is up 24% on a day!! This tells me that we have "new players"
entering the PM market..small retail investor/ttaders like myself ,in my experience,can not move the price up of so many companies to that level in one session....only hedge funds can do that..
Also,we have seen some interesting action in option market is noticible spike in volume of calls on some large players.especially,for next couple of months...this is very positive..
Thanks for your ideas..i do appreciate your balanced and thought through detailed approach ..Best of luck with your trading!!
GeorgeJimas leonarddavidson60
@leonarddavidson60, Yes I agree, there is tons of room for these mining stocks and ETF's to run.

There will be more money inflows into these stocks over the course of the next few months.