SignalSwiss
Short

GOLD: SPECULATIVE SETUP

FX:XAUUSD   Gold / U.S. Dollar
3808 28 73
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Comment:
snapshot
Comment: In a few hours will be released interest rate announcement and press conference of Yellen, potentially volatility could push up gold, probably with a spike. Managed with caution your short position, if you want to limit the risk, close the position before the event, and resume short position later, if conditions are right.
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Shorting Gold??? Just wow.
+4 Reply
1282 break,so is thast good to enter now
+2 Reply
...be patient, wait for it to break 1300 and enjoy the run up. Shorting Gold now, in light of the macro economic climate is silly.
+3 Reply
Hi Matt, thanks for your comment!!! :)
+2 Reply
matt12 SignalSwiss
Thanks for the opportunity to comment - and thanks for your trade insights.
+1 Reply
i in short too ! nice chart !
+1 Reply
yes short...you might wanna consider the bigger trade..with a stop above 1300 and targeting 1200...
+1 Reply
for us, potential pullback is only "speculative", trend is bullish, don't forget it!! :) only my opinion, of course....
+1 Reply
YHFS SignalSwiss
yes sure..i think i will have time to decide whether to stay short or take some partial profits and move stops to B.E...i just think the big bull trend came in a bit to early which is why i expect a bigger correction..but we will see..all the best
+1 Reply
excellent idea for Money management!!! great!
+1 Reply
TomPower SignalSwiss
How can you be short overnight with an ETF, let's just face it this was a loser and my money is gone.
+1 Reply
matt12 TomPower
Tom, hope you're o.k...we know trading ain't easy, but I was surprised there was so much enthusiasm in selling gold when this post came out. This is perfect example and a highlight to the correlations between the sentiment and strength of the US dollar compared a commodity product - gold. Note of the chart technicals, but in a market like the one we're currently in, take more notice of the fundamentals. There may well be a pull back on gold, but the buyers completely dominate the gold market right now.

Anyhow I don't want to sound like a 'wall street warrior wannabe' so i'll leave it there.
Best of luck mate.
+1 Reply
Thank you SS! Same view with you Sir. Now we have FRB inflation permission already for 11-13 months, gold bull trend started from July 2015 by RMB devaluation( Not from Jan. 2016 ) EUR bull started from March 2015 by DXY's flat. I think it's time for FRB show their hands now and RMB will be lifted by USD even stronger than USD. It's time to short yellow metal again, I've shorted the first impulse moving and I took profits already. Also we knew PBOC stopped buying gold in April. CFTC commercial positions now heavily short it too. I'm not saying that FRB rises rates today, to be clear, DXY could rise by hawkish talking after no rates rising.
+1 Reply
Victor.Y.F PRO Victor.Y.F
It is beginning!
+1 Reply
snapshot
its not the time for trade just its time to bet the new correction of bullish trend. ;-)
+1 Reply
m4riovolp3 PRO m4riovolp3
UPDATE
XAUUSD Gold Short - after FED Event & before "Brexit"
+1 Reply
I guess, if there is no US rate hike today, the bull move of gold will continue and 1315 is the initial resistance. 1270 is the support.
+1 Reply
Gold with even so bad news (1 rate hike in year and lowered progress of rates) was relatively weak, so correction should come after brexit failed (for now I have this scenario in mind - if brexit on - than it will go nuts).
+1 Reply
This might go to .618 retracement of its most recent leg from here which is around 1245. Then rally
+1 Reply
Time to short now ? :)
+1 Reply
It seems you are wrong.
+2 Reply
of course.... like Always... :) thanks for your post!!
+2 Reply
m4riovolp3 PRO SignalSwiss
amazing how many "self declared omniscient gods of trading" are writing very constructive stuff, here :D omg, some things will go from bad to worse :D
+1 Reply
his Idea was almost right. What's about your opinion? :)
+1 Reply
buy gold
https://bestforexsignalsnvt.blogspot.com/2016/06/strategy-gold-1662016.html
+1 Reply
What do you expect to happen from now on, with the brexit coming up ..
Reply
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