I essentially have nothing to add as the start to this (Weekly) candle is almost flat. The pattern is a Descending Channel and only a crossing #1,500.20 can keep a sustainable downtrend on Hourly 5 chart, though the bullish reversal bias from this point is not in it's strongest effect like it was in previous days. The scalpers of Friday's suggested range should...
Gold has been rising on very low volume since Dec 14. When I shorted #1,467.80, I expected prices below #1,448.20 as a fair value of Gold, but what kept Gold and pushed it up is incoming capital of investors and strong DX. I miscalculated short term Gold trend but now we got DX working on our side, initiating the last chain fall to #1,450.80. I am waiting for this...
The Hourly 5 Channel Up broke downwards as yesterday's positive Pending Home Sales weigh favorably on the DX. As I said yesterday the Hourly 5 EMA200 at #1,495 is there to support as a last resort measure, but if it breaks the (D) Support #1,483.80 will be tested. Note here that the (D) EMA50 hasn't been crossed throughout Gold's aggressive uptrend since late May...
Pending Home Sales pushed Gold on lower levels. The market hasn't priced such impressive forecast beating and that is the reason keeping Gold within the low #1,500 - #1,510 zone. The Dollar is logically rising after such data and Buyers should put a very good defense tomorrow of the Hourly 5 Chart EMA200 at #1,495.20 in order to keep Gold bullish on the medium...
The U.S. ADP Nonfarm Employment Change and House Sales missed their estimates by a respectable margin the DX is already pulling back on a small Bearish Daily candle. The Stock markets also follow that decline and the only reason Gold hasn't acted according to its negative correlation is the consolidation of USD-JPY on high levels. However it is also just below its...
Hello fellow traders! Gold went down 10 Dollars which makes me sure even more that we are heading to #1,180.30 as announced in my previous posts. Scalped few excellent profits these 6 bearish months. Congrats who followed me! I have resumed shorting Gold as Hourly 5 chart is already forming a reversal pattern. With DX on successive Higher Lows Daily chart, my Take...
Hello fellow traders! Booked 19th profit in a row, Take profit 2 # 1,198.30 hit as the price aggressively broke through every support level on Hourly chart. The Daily channel also broke downwards and the Weekly Higher Low trend line that supported the recent uptrend was also crossed at #1,199, restoring the bearish action on Weekly chart. My final Take profit...
Hello fellow traders! After continuation posts, I've booked 18th profit on Short positions on Gold which was #1,207.40, check my post history for accuracy. Again, Take profit # 1,207.40 hit as the, as we can see on Daily chart, is expanding towards a new Lower Low near #1,205.25. The week is closing on -1.75% in losses, the second straight red candle, which is...
Following the #1,213.40 Low, the price jumped back up to the # 1,239.40 level and lower high on the Daily chart. With the Nonfarm Payrolls beating the estimated figure, the DX found support near 96.00 and should test its Highs again which will, of course bring the Gold down. What is again keeping Gold higher than its fair technical value is yet another big pull on...
Hello fellow traders. As said in previous post I am still on Short in search for 17th profit in a row. First out of 3 positions I got open is in profit, booked the first on and now I am on second sell to #1,210.30. The October 18 low has been touched with the Hourly 5 Channel Up brining Gold one step before the #1,219.80. Shortly we will see clear Bearish signs on...
Hello fellow traders! Just want to add some words to my previous post on opening new Short position in hope for 17th profit in a row on Short positions. Gold is coming to Thursday's #1,221.70 Low with the October 12th low #1,219.20 my main point of interest. Hourly 5 has been on Lower Highs since last Monday and a break out on theses levels formed a small channel....
Hello fellow traders! After short brake of resting on sidelines and waiting for a option for Short position, the chance has arrived and I am opening another Short position looking for 17th profit in a row on Short positions. Gold was once more used as a safe haven due to the turmoil on the stock markets and has gained considerably and disproportionately to DX....
Hello fellow traders! First of all yesterday both TP's were hit (#1,195.30 and yesterday #1,180.30 (closed position on #1,183.20 which is 3$ close to my TP, which was also excellent profit on 0.5 volume position)). Really, congrats who followed me and booked extra-ordinary profits on this 16 wins in a row we had. I am glad that I am profitable to my fellow...
Hello fellow traders! As announced this morning on previous Idea, opening another Short to #1,180.30 from here in hope for 15th consecutive profit on Short positions. Take care and who follows me I wish good luck!
First of all, congrats to everyone who followed me on the 1st, and 2nd Short position that I open lately, both to Take profit #1,183.40, both were hit! We booked lots of decent profits in these 2 months I post on Tradingview. (Accuracy of information and winnings you can check on my Ideas history and compare the prices, feel free to do it.) Why wrote on chart that...
After lot's of profits on Short positions - I have open another Short (Take profit #1,183.40) and keeping it, after small Bullish spike I am opening another Short. Despite the big drop on DX, Gold is not showing big bullish movement. As the Home sales met their forecast, DX should keep the support intact and should gradually rise to 95.20. With Weekly chart still...
Hello fellow traders. In my last post I was kind of neutral but now all aspects and analysis shows me another Bearish leg and I am on the new Short position to Take profit #1,183.40. The Weekly candle is on +0.08% an will most likely close the first week of the month flat and remember: when you are unsure of the long term direction on Gold always look for clues on...
Greetings fellow traders. Congrats who followed my Short call to Take profit #1,195,80 which is hit few days ago (My previous profits you can check and evaluate on my profile/posts history). Currently I am without position because I wait for DX, it needs to be monitored since it has been rejected twice on 95.65 zone. If that is breached, we should see another fall...