We are close to getting a trend-alteration with most likely sideways movement until June. Look for price behaviour around the yellow line. If it goes significantly below that line, it can get ugly. When price touches the yellow line for the second time, it is time to load up longs with reasonable stop-losses if you are a gold-bull like I am that has 1592 as target.
코멘트
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Good, good, good. Yellow line holds. For now.
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Monitor to enter long if yellow line holds!
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Yellow line broken, monitoring close. This has a potential for a uglier year for gold than first anticipated.
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There won't be a consolidation-like pattern playing out in the range like anticipated by the green outline as we broke down from the yellow line and we are getting a close below it. Rest of the year is now up to the dollar. I will do further analysis. Miners' bear story did again play out and I anticipate sub 1200 in this "cycle" before we get any meaningful bounce.
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Further analysis shows that there is one remaining hope still for the consolidation scenario, applying this channel to the area.
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코멘트
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Close above 1224 is a good indication of the beginning of a reversal. Swing low zone is 1228, but Rome wasn't built in a day :)
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Close above 1228 is further indication that daily cycle low is in
코멘트
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Playing the game of consolidation. In the mid-range of the activities atm. Positions to be taken on the top or bottom, not in the middle.
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Entered short at 1278.5. Looking to add at 1283 - 1285 - 1290
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Monitored PA and entered second entry at 1289.
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Idea is still valid, but timing on move a bit off. This is what I find more likely regarding timing and crossing.
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Intersection between orange circle and gann level is 1207 ish.
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I am quite sure we get an election spike reversal like Trump-election day tomorrow.
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However, with a smaller spike up of course. But the candle can be ugly :)
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Churn churn churn. Trend should be changing.. But to what, that is the question. We have intersected the orange circle now, but we havent touched the bottom channel. This latter part makes me a bit sad.
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1207 is reached. Long position entered.
액티브 트레이드
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Red outer circle reached. Let's get this breakout that we all have been waiting for.
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We are almost clear of the hurdle, but play it safe here as we approach weekend.
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By taking the top, and align it with consolidated candle and mid-section 2016 Dec low, we get the following:
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sahinrecan
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now the question we all wait , will there be one more shot for bulls, or the train has left already?
in nutshell, i wouldn't be sorry if i have longs from 1290s from the false breakout of June, can wait.... %70 sure it will reach one day - if margin is safe, have no fear.
but i will feel damn sorry if i had shorts from 1210s - %25 sure it will visit again - even margin is safe, bit scary...
i guess this summarizes the market of gold.
UnknownUnicorn540299
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@sahinrecan, Let us hope that the train leaves and not look back. They've had their chances in plenty. That is why I told to back up the truck at 1207 :)
sahinrecan
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@viking83, what is your first TP then? 1330? daily RSI Works well for the Gold. I'd put first TP to 1330 band / and then enter long again watching the Daily RSI to hit 30.
UnknownUnicorn540299
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@sahinrecan, If this breakout now is geniuine, we should close on weekly around this level. I am a bit careful here, scaling down position slightly to let market confirm the breakout. Then on my table, I have the following resistances: 1305, 1320, 1337, 1350, 1375, 1400. And if market is truly gonna give us what we deserve: 1592.
sahinrecan
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@viking83, we have a consensus then. but still, i expect, even in a high tempo, to reach 1500s not earlier than 9 months. probably mid 2018s. (well, depends on the crazy political things as well : )
so better tobook the profit / watch rsi, long again / book the profit watch rsi / long again in 45days - periods.
thanks for the analysis, great work as always.
ARGOS1
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Bye bye midnight wuwu (midnight=12 wuwu=55).
ARGOS1
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My opinion on the Election spike has always been that election fraud was not going to be tolerated in the #1 Superpower.
Between this post and June 6, "What does chart imply doing?",just how many more yellow arrows do you have left anyway?
ARGOS1
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No worries folks. We were having a dialog. He was posting charts in response.. But try to find the black circle if you can.
ARGOS1
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Both bottoms December. Both April's peaked out almost exact price. ICL last year May. ICL just occurred early May @1214? Peak for year, July, last year. This year same? The year of the "mid term" recovery?
1307-1214 (latest low, short term)=93+1307=1400 long term.
1255= mid night, 5.5-middle number. Wu wu. (Will Smith movie about manipulation of the 5's, maybe trailer somewhere.)
@viking83, Thanks for link- related ideas- above comment box. You kept mentioning 1592, v, but 1445, iii, I did not see until the chart.
Wu wu. (Content just observations. Not meant to offend anyone).
in nutshell, i wouldn't be sorry if i have longs from 1290s from the false breakout of June, can wait.... %70 sure it will reach one day - if margin is safe, have no fear.
but i will feel damn sorry if i had shorts from 1210s - %25 sure it will visit again - even margin is safe, bit scary...
i guess this summarizes the market of gold.