Today we made a higher high, so
I make the call : we are in the 2nd daily cycle.
In gold's intermediate cycles the 2nd daily cycle always the strongest one.
My advise to open the position and if we have a dip add to the position. In the 2nd daily cycle the pullbacks are small and rare. Next week we are going to break to new highs ( above 1376$). I think the stock markets will print a HCL decline and that will help gold to rally. And when the dollar starts to fall - it seems to be starting now - gold will skyrocket.
No shorts from now it's going to be a big move up.
20 EMA (we are there right now) and 50 EMA
Hopefully surprise will come to the upside...
Waiting for a break to the upside.
You get 3 very good entry points for the 2nd daily cycle.
I hope some of you have entered. It's going to be a wild ride above 1400.
I was adding at the bottom of the flag.
But it seems we will have a daily maximum close.
THIS IS THE SECOND DAILY CYCLE OF THIS INTERMEDIATE CYCLE.
It's always the strongest. We will break to new highs - above 1375 - next week.
This is not a daytrade. I'm going to close this position near to the end of August.
NO SHORTS. Only buying the dips.
Next week I will be in Dubai and Abu Dhabi but will be watching all the market movements and will be posting.
Have a good weekend!
The bull seems to be ready to really run.