chartwatchers
Short

Gold - The waiting

FX:XAUUSD   Gold/U.S. Dollar
4323 71 81
6 months ago
The dollar on the truck now. I think we are just waiting for the stocks to bottom and gold             will break down. I was waiting for the FED minutes today but I think as yesterday FED's Lockhart and Willimas both said June is possibe for a rate hike the minutes will show the same.

Yesterday was not a false breakdown it just tagged again the blue trandline. But there is also an important red channel inside the blue descending channel. Check out how price is attacking the lower red trendline while it couldn't break up the the red upper trendline and the green triangle.
I think smartmoney was saving the price every time when it was tagging the lower trendline but they were heavily protecting the red zone between 1287 and 1294

We might bounce one more time up to 1280-1285 but that's it. We will break down.
6 months ago
Comment: If you have some time pls set the lower trendline and see how price is working.
If we have a marubozu candlestick below the trendline we broke down. If we have a hammer we have one more round to the upside.
6 months ago
Comment: A close below 1270 in this hourly candle would be perfect.
6 months ago
Comment: We have 23 minutes more for them to pull up the price again.
If no help is coming we will break down...
6 months ago
Comment: We are not bouncing this time.
We might be ready... I would like to see a crawling on the trendline and a breakdown...
snapshot
6 months ago
Comment: Welcome to Whipsaw City.
6 months ago
Comment: It's a clear trendline attack. And volume came in the sell off in the last hourly candle...
snapshot
6 months ago
Comment: We broke down.
6 months ago
Comment: I don't think it's a false breakdown. If we are back to the trendline I would try to short it. I think we are just waiting for the American stock market open .
We need the dollar to rally for the gold decline.
6 months ago
Comment: GO SHORT NOW !
6 months ago
Comment: As soon as the dollar starts to rally - maybe at the FED minutes - gold will finish this whipsaw game.
So all who wants to open short positions it's time now.
6 months ago
Comment: Rate hike in June.
I really want to see gold falling now...
6 months ago
Comment: Rate hike in June....
I really want to see gold falling now !
6 months ago
Comment: All of you who shorted gold today can tell
that you sold gold to Soros.....
:D
6 months ago
Comment: Bulls are toasted....
6 months ago
Comment: I will post a chart today.
This is not a one day decline.
I think the FED minutes had started gold's intermediate decline.
If I'm right we are going to fall for 3-4 weeks from now.
And this is going to be a hell of a decline.
EVERYBODY IS BULLISH, EVEN SOROS....
It's time to take some money from the banks!

Related Ideas

toothless
6 months ago
THANK YOU for all of your thorough analyses and explanations. You easily have the best explanations for your charts on this site. Many thanks!
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chartwatchers PRO toothless
6 months ago
Thanks for the support! :)
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AlphaDreams PRO
6 months ago
Thank you so much!! I am very appreciative of your charts and analysis (now if I could only control my emotional buys / sells).
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chartwatchers PRO AlphaDreams
6 months ago
Thanks for the support! :)
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xiiimik
6 months ago
What is your target for DUST?
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chartwatchers PRO xiiimik
6 months ago
I will set tomorrow.
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vchelimella
6 months ago
what the hell is this , it has totally stopped getting sold off unbelieavable
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Excellent analysis sir! I am more biased to the long side from here but will become neutral if the March inflection level breaks https://www.tradingview.com/chart/GC1%21/lwppgVFU-Gold-1275-Buy-Level/
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smitheric1970 PRO smitheric1970
6 months ago
Gold 1275 Buy Level
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chartwatchers PRO smitheric1970
6 months ago
Small triangle: The triangle is usually a continuation pattern and we have a downtrend on the 4hrs chart.
The big triangle : broke out but no follow through.
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val_trader
6 months ago