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.
Cycles for a lot of instruments, swing trades, trading rules, indicators.
Also with an application for "trade enter" signs. I see a lot of ppl are missing the entry points beacuse you cannot
be here whole day long. YOu get the notification on your iphone when we enter.
And you decide you are interested in or not.
I will continue my work here , but there will be posts everyday for all the instruments.
So you dont have to ask how do we stand in oil etc...