GcNaif

Year to Date analysis of Gold for 2016

FX:XAUUSD   Gold/U.S. Dollar
4122 49 155
Gold             Year To Date Analysis-2016

Quarter 1: Low/High - 1061/1284
Quarter 2: Low/High - 1199/1356
Quarter 3: Low/High - 1301/1375
Quarter 4: Low/High - 1203/1336 ( not done yet)

Gold             started the year with bullish tone during first quarter and continued it bullish momentum in Quarter 2 . In Quarter 3 it did make a new high but could not maintain its bullish momentum and started retracing , which continued the whole quarter 3 and its still retracing in Quarter 4 as well. so far gold             has retraced little more than 50% of its entire year move from 1061-1375. We have one more month left to finish the quarter 4 and I am expecting it to finish the Q4 and year with at least 75% of retrace of this year's move which is landing around 1140.

Note: i rounded the numbers for high n low.
Trade active: 3 shorts are active from 122x area
Comment: 2016 Quarter 2 low at 1199.22 was broken yesterday and today it breached the 50% move of Q1 at 1173. ,so far so good, moving as expected
snapshot
Comment: right on ...target reached as expected
Comment: This is one of the best analysis i have done in my trading career.Thank you everyone for supporting my charts n analysis
Comment: retest of 1140 is in progress
snapshot
I am a Chart Slave.Thank you TradingView and @nmike.
It is not over yet. A much bigger one is coming. Do not go long, unless you have a fortune and want to lose them.
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@saif12, what levels are you thinking?
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saif12 PRO gaptraderhq
@gaptraderhq, Hello my friend, I am not a day trader, so I do not chase swings, but Trends. I posted a target of 1080 in my chart posted in September, but now I think it will be much much lower. 850-950.
Good luck, and sorry to hear that you stuck in Long.
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@saif12, Thankyou appreciate the reply... levels of 850-950 Im whipped out ;o( Oh well lets pray. Cheers
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saif12 PRO gaptraderhq
@gaptraderhq, My advice, Next week there will be some recovery, I would say Wednesday or Thursday, to sell Half your you position to minimize the risk. Of course it is your decision, but If I were you I will not keep waiting a full recovery. It happened to me in the past, I know it hurts, but you may wait several months if not years for full recovery.
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@saif12, Thankyou for the advice & thoughts. I'll see if I can hold until then. Hopefully there is a small recovery for some breathing space!!!
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Great job GC, you are by far one of the best analysts I've met on TV, Keep it up~~
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@Cornhub, thanks corn
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Great analyse :-)
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@Zarko, thanks Zarko
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