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GOLD - Out of time

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We are simply running out of time for breaking above 1300$.
So there are 2 possibilities:
1. We will be in a long consolidation till the middle or end of September to reset the bullish sentiment.
or
2. we have a hell of a decline in the next 2 weeks.

I know it would be nice to believe that Jackson Hole will bring the breakout above 1300$.
But...
Yellen will need to talk about how they will start to pull out the money from the market in the next year(s).So her speech needs to have some hawkish tone tomorrow. Hopefully Draghi will pull out his head out of his *** and starts to weaken the euro in his speech on Friday. Otherwise we will be buying Fords instead of Mercedes, Bmws, Nissans and Toyotas in 2019-20.

The key level is 1281.82$. Thats the neckline of the H&S pattern and that's the level we are going to test today.
If that breaks we will be testing the next level very soon.

My only concern are the 2 wardogs. If they open their mouths the picture can be re-painted easily.

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For Staxs... It's important so I will post it under my post:

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There will probably be a new president of the FED in early 2018 after Janet Yellen's term expires.

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So far there will be a specific idea of the plans and first steps will be in progress.

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It would be best if the next president pursued the strategy that had been started, thereby reducing the uncertainty surrounding transitional periods.

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The minutes of the FED's latest meeting show that they have begun to think about cutting down their $ 4.5 billion bonds.

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Beginning of the decommissioning of bonds would have an impact on other markets due to their size, according to Janet Yellen, this step would practically work as an interest rate increase.

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Jackson Hole is the place where Yellen needs to prepare the market for this step.

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The Fed's balance sheet total swung by $ 3 trillion to $ 4.5 trillion due to bond purchases made during the financial crisis.

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If they are decomissioning the bonds the USD will strengthen.
At least there will be a bounce on the weekly chart.

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"Fed's Kaplan says Fed should start shrinking balance sheet 'as soon as possible'" that's what I'm talking about. Yellen will have to talk about it tomorrow..

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Let the game begin....

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Small players, traders on margin, close stops are out of the game.

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In both direction.