Gold: Be Aware Of The BIG Picture!

Current Trade Disposition: LONG UTD Result: +340 pips

We went LONG on this back on 5/9 because we saw it hit a strong support level and also because of the BIG picture that we see coming. Many traders right now are very bullish on Gold and rightly so since the USD seems to be on the verge of self-immolation! But we see it differently.

Here's our Daily chart we released back on 5/21:

In this Daily chart, you can see that we are expecting that we should see an rather strong move down after this current corrective move up into the MAJOR downtrend TL. This analysis is the one that we see as most likely to happen. Of course, there's no guarantee of it happening but that is why we keep a constant eye out on Gold and issue notifications and updated charts on it.

But watch for what the PA will tell us when it reaches the MAJOR TL which should serve as resistance. If Gold can't break through it DECISIVELY, then look for it to SELL off! We will be there when it happens. Want to be alerted when it does happen or be updated on Gold's moves? PM me.

Comment:

My APOLOGIES! It seems that due to some technical issue, ALL my studies, labels and indicators on my chart DISAPPEARED! that is MAJOR FRUSTRATING as now i have to go back and redo them! I've reported this to the techies but probably nothing they can do to restore them! So after I've redone everything, I'll update this post! Again, not my fault but my apologies to all!