tntsunrise
Short

Two possible senario for the NFP impact on Gold.

FX:XAUUSD   Gold/U.S. Dollar
2461 14 90
NFP COMING
Be ready for these two senario:
1: Gold             Rally, pay attention to 1254.26,
if can't break this level, get ready to short.

2: Gold             falls , it wil test 1205 level and
if break this level, gold             will futhur decline to 1193-1195
and 1137

Currently I am still holding my short position at 1281
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Jack, I hope you wouldn't mind sharing your opinions on Gold Miners GDX
Thanks
snapshot
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Jack, the past 3 days price action looks like a bullish bat, what's your opinion
snapshot
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yes this is a small bat and price did went up to 1223, I am waiting it complete the 2nd target of 1230 to short
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PangBlood tntsunrise
Thanks Jack! Thanks for the lesson
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snapshot

Gold in key level
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hi .... so ur iimplying that gold will work towards 1250 regardless and we need to see if it breaks or not?
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Thanks .i think it will reverse around 1153 and fall towards 1193 but then it will go up to 1300 here is why 1)current move to the downside is corrective move as ABC not impulsive 2)corrective move unfold within a channel unlike an impulsive move which breaks out the channelling(we just saw with eurusd it was falling for 5 days within a channel then suddenly boom) 3) 1193 also .382% fib for the previous larger upper move and .382% fib is a common for the 4 th wave meaning a 5 th wave will follow 4) Gold and eurusd are kind of correlated looking at euro after a down move euro will once again rise and rise towards 1.2 so could Gold .Thanks again
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Looks to be in a nice downward wedge, so any break to 1254 would break this trend so continued selloff more likely I feel, expecting Fridays news to be positive in line with recent months which will also send it down, best to wait first though, as you could easily get wiped out if you guess wrong!! 1281 was a brilliant entry, i entered that trade as well but sold around 1250, just goes to show that psychology is probably the most important factor in trading.
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tntsunrise TOP Trendhopper
yup
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