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kaotic363

Massive Explosion UP; Gold Cartel Tactics playing "Ping-Pong"

Long
Gold Spot / U.S. Dollar (FX:XAUUSD)  
kaotic363 Updated   
FX:XAUUSD   Gold Spot / U.S. Dollar
Chart Patterns XAUUSD xauusdlong Gold goldtrading goldtradingstrategy goldtradingsetup goldtradeidea
16
7
chartpattern xauusd xauusdlong gold goldtrading goldtradingstrategy goldtradingsetup goldtradeidea
Looks EXACTLY like the December 2015 / January 2016 action in gold. Massive imbalance in the COMEX COT readings along with Ping-Pong price action by the Gold Cartel aka Bullion Banks / Wall Street just prior to LIFT-OFF (i.e., shaking out of all of the weak shorts and weaker longs). Getting VERY LONG Gold Futures in anticipation for a move possibly up to $1400 by year end. Gold sentiment could not be any worse. Perfect time for MASSIVE SCRAMBLE to cover shorts by trading funds.
Comment:
Gold stocks seems to be breaking out ahead of gold this week. We will get a 8/16 EMA daily cross on XAUUSD at the NY close which is very positive moving forward. Once gold can decisively breakout over $1215, then the funds will start to aggressively cover their short positions.
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