chartwatchers
Short

GOLD: THE BULLTRAP

FX:XAUUSD   Gold/U.S. Dollar
1909 15 44
8 months ago
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$.

8 months ago
Comment: Falling like a stone.
That's what I was talking about.
8 months ago
Comment: Money is flowing out of gold into the stock market.
Funds are getting rid of PM.
8 months ago
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.
snapshot
8 months ago
Comment: Daily minimum close.
4hrs chart couldn't recover above the 100EMA.
The next stop is around 1252 (200 EMA- 4hrs chart)
https://www.tradingview.com/chart/LccZcsCW/
vchelimella
8 months ago
you are simply Awesome Dude !! I will hold my JDST position till i see some update from you Thanks a Lot !!!!
+2 Reply
chartwatchers PRO vchelimella
8 months ago
Thanx for the supprt.
+2 Reply
ice_holly01
8 months ago
I bought back my dust position and will wait for your update! Thanks tons.
Reply
chartwatchers PRO ice_holly01
8 months ago
:)
Reply
alanprotrader
8 months ago
thanks for the update.
What you think will be a good TP zone for the short?
+1 Reply
chartwatchers PRO alanprotrader
8 months ago
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
8 months ago
excellent bro ur perfect
Reply
alanprotrader chartwatchers
8 months ago
thanks. perfect.
Reply
XTAL.ball
8 months ago
As always, excellent analysis
Reply
chartwatchers PRO XTAL.ball
8 months ago
Thanx for your support XTAL!
Reply
webmiztriz PRO
8 months ago
pretty amazing... :o) this chart is a work of art... ;o)
+2 Reply
chartwatchers PRO webmiztriz
8 months ago
;)
Reply
pmcllc PRO
8 months ago
it looks like the decline is going to be kind of brutal...
Reply
chartwatchers PRO pmcllc
8 months ago
Unstoppable.
Reply
kaotic363 PRO
8 months ago
$1150 (200MA) by mid-June. Hard and fast downswing...
Reply
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