Viking83
Long

Cleansing sentiment

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
639 9 9
Bears celebrating!
Lets see how long it is to last :)
in reality just going from monthly resistance @ 1288.5 to monthly support @ 1275.
Comment: Please note, SL: Shall be regarded as a 4hr close below
Comment: The drop itself opened up 2 new levels to be seen :)
snapshot
Comment:
snapshot
Comment: 1279 level met, then 1283 and 1302 left. These levels doesnt come with time labels unfortunately.
Comment: 2nd upside target almost met, but no cigar, still missing 0.5 usd or so on the 1283. No 4hr below the zone. Its drying paint within the range
Comment: Again, meaningless impatient price action. Price cannot make anything sustainable, still being in peanut-picker-range.
Comment: 1275 is re-opened on the downside. Potentially open to 1285 on the upside.
Comment: EURUSD...
Comment: For 15/11 I have the following very interesting narrow range levels.
1273... Price as mentioned impatient again. So 1273-75 is good support.
snapshot
Comment: Gold has spiked nicely above the strong resistance zone. But; 1273 is still open level. Caution to be adviced as price may come back to it. I will monitor price development
Comment: Main scenario is that we re-visit 1273 in next cycle, but we never know :) ABX tells me that we most likely have bottomed
Comment: Hence: Time to punish permabears... :)
Comment: Couldnt escape still. So 1273.X is the place to watch out.
dunno bud, miners aren't looking so confident. Today should tell the story though.
Reply
@faronf, Yep, lets see. I still dont see much potential for bears either. Bulls not positioned vunerable enough for significant takedowns
Reply
faronf PRO Viking83
@Viking83, Bulls will win the day soon enough. I dunno what the down side might be...I'd expect we get a YCL out of the way shortly and be on our way to $1300s or higher for the bulk of 2018.
Reply
DXY must fall below 94.25 before entering Long
Reply
...which are?
Reply
@faronf, the lines on the chart?
Reply
@faronf, WHENEVER price falls a great drop without spiking occationally the other direction, it leaves levels unseen on the way
Reply
faronf PRO Viking83
@Viking83, how often must price action test back when it breaks down a level? any criterion it needs to meet in that regard? timeline?
Reply
@faronf, 1283 and 1279 as shown on chart :)
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