Price Action Analysis for Wave one

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
1030 14 37
see the chart
Comment: If $1120 be broken down, will possibly go below way:
I quote Ken's chart.
Comment: Trump may change the trending of Gold...wow~~
Comment: This chart updated by Ken for long term view:
Very very good, I like how insightful you are the way you look at the buyers and sellers !
faylee, I agree with your model on the general direction for Gold but I am looking at the coming 2 weeks for the inflexion point for gold.

In the upcoming 2 weeks, we have the 1) US Q3 GDP on Oct 28, 2) US Fed meeting on Nov 02 that I would think are the 2 events which will drive gold prices for the next 4 weeks.
+1 Reply
faylee yyunhong
hello,yyunhong,yes, they are important events, but i think what ever the data is, the market will finally back to follow it's core logic, the currency policy, not only USD but also EUR, JPY, RMB,,etc.
+1 Reply
This chart was made on the 7th october. One should take into account that there are two options: red and blue


+1 Reply
faylee eyeshot
thank you for your sharing:)
I think this is the most probable outcome Fay Lee.
+1 Reply
faylee IvanLabrie
aha,you agree with me?^.^//
+2 Reply
Yes, I think there are too many enthusiastic bulls for a rally to continue, potential for a rate hike in December, and massive commercial hedgers short positions as reported by CTFC, so, the rally is probably in a coma for now.
faylee IvanLabrie
yes, always buy the rumours, sell the news
+2 Reply
January 2017 seems to be an interesting month
+1 Reply
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