FX:XAUUSD   Gold Spot / U.S. Dollar
1914 15 46
I make the call : gold             has topped in the 1st stage of its new bull market. The topping was so typical again.
Break the price to new highs (above 1284). Get everyone bullish . Convince the shorts that price is running to the sky: so they will stop out. When early bulls, late bulls, short traders are all on board and the daily chart is breaking to new highs banks are selling out their gold             positions to small traders.

And when the top is in the last mission to make a day of rally ( last Friday) when the few shorts are stopping out with a candlestick which convince everyone that it is a testback of the breakout.

Guys if we were not able to rally on the bad NFP data do you think we would rally with the soaring stock market and rallying dollar?!
Mark my words : This will be a hell of a decline. It will be so powerful and scary that at the end of this you will be 100% sure that gold             is going below 1000$.

Comment: Falling like a stone.
That's what I was talking about.
Comment: Money is flowing out of gold into the stock market.
Funds are getting rid of PM.
Comment: We might be done for today as we are tagging the 20 EMA.
I think in the night we will break through it as the eastern markets will continue the sell off.
Comment: Daily minimum close.
4hrs chart couldn't recover above the 100EMA.
The next stop is around 1252 (200 EMA- 4hrs chart)
$1150 (200MA) by mid-June. Hard and fast downswing...
it looks like the decline is going to be kind of brutal...
pretty amazing... :o) this chart is a work of art... ;o)
+2 Reply
As always, excellent analysis
Thanx for your support XTAL!
thanks for the update.
What you think will be a good TP zone for the short?
+1 Reply
chartwatchers alanprotrader
The first level is at 1210-1230. But we have to see how strong is the decline.
It will fall at least for 2-3 days now. A lot depends on the dollar and the stock market.
+1 Reply
silar.sk3 chartwatchers
excellent bro ur perfect
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