It's always tough to make a correct call ahead of FOMC meeting. Sometimes the FED is setting the direction, sometimes the next day all the currencies and metals are reversing.
This was the case yesterday too. All the gains of Wednesday were dusted yesterday.
Now gold's daily chart looks like a flag to me : it's just waiting for to break down.
It's still not crystal clear how far it can drop : it might be a shallow decline to 1270 or a deeper correction down to the 200 SMA . Once it starts I will update the possible targets.
I highlighted the similar cycle zones with orange boxes in the past where price was waiting for the same breakdown as today. Once we complete this final drawdown gold can finally rally above 1400.
This was the case yesterday too. All the gains of Wednesday were dusted yesterday.
Now gold's daily chart looks like a flag to me : it's just waiting for to break down.
It's still not crystal clear how far it can drop : it might be a shallow decline to 1270 or a deeper correction down to the 200 SMA . Once it starts I will update the possible targets.
I highlighted the similar cycle zones with orange boxes in the past where price was waiting for the same breakdown as today. Once we complete this final drawdown gold can finally rally above 1400.
코멘트:
Wow. DXY.
코멘트:
DXY rallied 0,5% in an hour. Gold is held up artificially in these moments.
코멘트:
The flag broke down today.
코멘트:
The flag in silver also broke down.
코멘트:
Platinum is also down today and staying in the range for a while.
코멘트:
And if you think some things raise forever :
Sooner or later the ICL is coming for every commodity...
Palladium is down by 6% today.
Palladium is down by 6% today.
코멘트:
코멘트:
Clear breakdown of the flag in Gold.
코멘트:
It’s just a matter of time when gold breaking down the $1280 level.
코멘트:
Chance is high for a 20$ red csnfle today. that would mean 1290-92$ daily close.
코멘트:
*candle
코멘트:
1292 is on the way. What a bear...
코멘트:
1292 here we go.
코멘트:
Scalp longs ON.
코멘트:
From this point there is no question: the 1277-1282 level will be broken down.
코멘트:
Scalp longs OFF
코멘트:
Building a triangle in gold 4h chart
코멘트:
Triangles usually continuation patterns so I’m waiting for this triangle to break down. Today or tomorrow
코멘트:
And here is the breakdown.
1280 will be taken out soon.
1280 will be taken out soon.
코멘트:
Every possible trendline is broken.
코멘트:
I still think the IC hasn’t finished yet. A fadt move down could clear sentiment.
코멘트:
It is as if gold is at the edge of the ravine and waiting for someone to push it down
코멘트:
Holding the shorts.
코멘트:
We back tested the break down.
I don’t think it’s going to stop here.
매매 수동청산:
We are running out of time in this short trade.
I closed the position today.
I closed the position today.
