XavierAlexander
Long

GOLD - KRYPTONITE OF THE MONETARY SYSTEM - GREAT POTENTIAL LONG

COMEX:GC1!   Gold Futures
Quick clean analysis showing GOLD             weekly breaking this years bearish trend line and about to breach the 7 year high/low 38.2% Fibonacci Retracement level.

I don't agree with Yellen, US short-term interest rates are not going to raise and I don't believe the US economy is recovering.

Fourth quarter dollar weakness is imminent! sparking the power of GOLD            

USDOLLAR             index routinely shares an inverse relationship with commodities , When the dollar weakens against major currencies, prices of commodities - especially GOLD             - generally rise.

This is due to the majority of commodities traded in international markets being quoted in USDOLLAR            

GOLD             and Gold             stocks are overdue a big bullish rally after 4 long years of decline.

reality starting to deteriorate the monetary system.


Good Luck and Happy Trading :)


Food for thought ..
The US is about 18$ trillion in debt (58,437$ PER US citizen)

..but there is only 1.3$ trillion dollars in circulation. Go figure

Nice TL break.
+1 Reply
Thank you Ivan :)
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IvanLabrie XavierAlexander
I'm working on a dollar adjusted chart, might give extra insights, but I think we will see a big move up asap.
Cheers!
+2 Reply
I look forward to your overview :) I am always over cautious with bearish dollar as we've seen previously reversals can be rapid and powerful, however I feel this is all very overdue. Will be a very exciting fourth quarter!
+1 Reply
IvanLabrie XavierAlexander


Can rally for a long time. Or very fast and hard.
+2 Reply
IvanLabrie IvanLabrie
+2 Reply
Better Entry after retest around 1125
+2 Reply
Thanks for your insight dude :) I agree however I published as a overview, I will seek my entry throughout next week focusing on micro TF's - However I believe if the ball REALLY gets rolling we could easily see 1400+ before 2016
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