2 weeks ago I stopped my gold long position at the break of 1765 and we dropped 100 $ more in a panic selling mode in the first 2 weeks of March.
I wanted to wait this Monday's trading as last week shorts tried to turn the gold market down from the 10 EMA . The attempt failed and today we are going to close in the green above the 10 EMA.
MACD is crossing over and turning up from extreme oversold levels.
TSI is crossing over and turning up from extreme oversold levels.
RSI had an oversold zigzag I like to see at the end of the ICL:
Notice that the selloff in the TSI was as brutal as at the 2018 yearly cycyle low (2018 August)
and the selloff in the MACD was so extreme as the 2013 panic selling...:
Cycle wise it's still not crystal clear what do we have:
1. What I'm sure that we had an ICL at 1676$.
2. The question is did we have an ICL on the 30th November 2020 and a short intermediate cycle?
3. ... or we had an extreme long intermediate cycle since 20th March 2020?
In the 2. case we just broke the previous ICL what is not a good sign regarding the bull market.
In the 3. case everything is ok we just need to trade the yearly cycles give a long time for the bull market.
Actually I called 1680 $ last year October but I was not anticipating a 5 months drop...:
Summary :
I will start a new long position in gold from 1730$.
I will trade the yearly cycle what I highlighted by blue vertical lines:
I think the yearly cycle lows (YCL) moved from December to March in 2019.
In 2015-2016-2017 the YCLs came in December. 2018 was the year where we switched : the YCL was in August . And from 2019 the YCL came in spring.
If I'm right we don't need to worry about gold while MACD and TSI is not
crossing over at extreme overbought levels and this probably will come between September and December .
I wanted to wait this Monday's trading as last week shorts tried to turn the gold market down from the 10 EMA . The attempt failed and today we are going to close in the green above the 10 EMA.
MACD is crossing over and turning up from extreme oversold levels.
TSI is crossing over and turning up from extreme oversold levels.
RSI had an oversold zigzag I like to see at the end of the ICL:
Notice that the selloff in the TSI was as brutal as at the 2018 yearly cycyle low (2018 August)
and the selloff in the MACD was so extreme as the 2013 panic selling...:
Cycle wise it's still not crystal clear what do we have:
1. What I'm sure that we had an ICL at 1676$.
2. The question is did we have an ICL on the 30th November 2020 and a short intermediate cycle?
3. ... or we had an extreme long intermediate cycle since 20th March 2020?
In the 2. case we just broke the previous ICL what is not a good sign regarding the bull market.
In the 3. case everything is ok we just need to trade the yearly cycles give a long time for the bull market.
Actually I called 1680 $ last year October but I was not anticipating a 5 months drop...:
Summary :
I will start a new long position in gold from 1730$.
I will trade the yearly cycle what I highlighted by blue vertical lines:
I think the yearly cycle lows (YCL) moved from December to March in 2019.
In 2015-2016-2017 the YCLs came in December. 2018 was the year where we switched : the YCL was in August . And from 2019 the YCL came in spring.
If I'm right we don't need to worry about gold while MACD and TSI is not
crossing over at extreme overbought levels and this probably will come between September and December .
코멘트:
매매 수동청산:
DCL is coming I will buy back gold a few days later.
Price is trying to reverse here. RSI also reached overbought.