chartwatchers
Long

Gold - Ready to run

FX:XAUUSD   Gold/U.S. Dollar
3357 33 53
It seems Brainard has pulled the trigger for the USD collapse and gold             is finally ready to run.
Divergencies on the hourly chart at every indicators....
We also printed a key reversal on the hourly chart.
marketplaceguy
6 months ago
amazing stuff...thanks mate
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Viking83 PRO
6 months ago
Very strange reaction in the dollar though, she was dovish from the moment she opened her mouth, yet it had some rally up. She basically said hikes are off the table.
+1 Reply
smashoud35
6 months ago
hi pls is 1312.59 the TP and 1338.34 the SL??
+3 Reply
VirtualFax
6 months ago
I think it's a false start. I still believe later this week gold will tag the support lines congestion area around $1,310 or lower before the run begins.
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smashoud35
6 months ago
guys some for us new traders pls
+1 Reply
VirtualFax smashoud35
6 months ago
That's my view but keep in mind that at the same time Chartwatchers has a way more experience than me
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hasansahoglu
6 months ago
I have long postions 38-42-50 but never had any doubts. Do you think I should enter some more here now?
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pbartashevich PRO
6 months ago
100% in position here but still have some reserves. Let's run!
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Nightstar
6 months ago
Gold Bears! You're forgetting two very important points.. Gold has just started a brand new cycle which is unlikely going to top on day 3/4 (that would be unheard of) and the dollar is due for an ICL which will put pressure on Gold to the upside. This is why Technical Chart Analysis is limited and sometimes unreliable when used on its own -- yes that includes Elliot Wave Theory.

Ps: My trading relied heavily on technical chart analysis 10+ years ago.. but I only started making consistent money when I included Cycle Analysis and Sentiment to my arsenal. I suggest you do the same if you wanna retire in style :)
+6 Reply
toothless Nightstar
6 months ago
Does "sentiment" equal teasing out smartmoney manipulation? hahah! Because I'm shocked to learn how much manipulation goes on in the market. Huge thanks to Arpi for helping see through everything.
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Nightstar toothless
6 months ago
Manipulation is very real unfortunately and one as to adapt accordingly.. There is no way in Hell the Banks are gonna leave it up to chance, Lol! Which means.. Cycles can get stretched and the landscape can look very different from one week to another. If it was easy, everyone would be living on a yacht in the Bahamas eating Lobster, right? The point that I'm trying to make is to use every tool at your disposal (the ones that work of course) to improve your chances of a successful trade. If you can do that and leave ego and greed at the door.. you'll do just fine!
+5 Reply
GrantShuttleworth PRO Nightstar
6 months ago
Whats ICL?
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Nightstar GrantShuttleworth
6 months ago
Intermediate Cycle Low
+2 Reply
GrantShuttleworth PRO Nightstar
6 months ago
Thanks. Im going to look into cycles.
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Nightstar GrantShuttleworth
6 months ago
You're in the right place my friend :)
+2 Reply
msia0800 Nightstar
6 months ago
Newbie here. Any recommended reading to understand cycle better?
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mrtommifunn PRO Nightstar
6 months ago
I could not have put it better, Cycles can be delayed but they are inevitable. A great example that can be seen right now is sp500. The cycle lows were delayed but in the end the power of the cycle came home to roost.
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lslcqq1984 Nightstar
6 months ago
Sir, is any book we can learn the cycle counting or any book, really appreciate!
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NihalCassim
6 months ago
im long based on charts advice and my own view on the sharp correction, but objectively, it seems to be unable to break 1330. its weak, dollar keeps getting strong. But in another 10 days when the fed doesn't raise rates, gold may rise. we're sitting on hope. its a matter of luck. the lower your buy the safer you are, the higher your short the more comfortable you are. its luck. and charts been lucky for me, so I'm staying long.
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chartwatchers PRO NihalCassim
6 months ago
We are in a new daily cycle. There is the biggest chance that we can ride a good rally.
If you are not in the position on the 2nd or 3rd day after the DCL you can be easily left behind. The rallies are usually so strong that you don't even get a pullback. This time we had a strong pullback. But it's coming once after every 10 DCL
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pbartashevich PRO chartwatchers
6 months ago
The pullback was designed and executed by the Fed alone. That what makes it a fake drop. The purpose was to let their buddies to make better position in Gold before mega consolidation break out. We should all thank Fed for giving us such brilliant opportunity to add after DCL is printed. :).
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nawras.elghorani
6 months ago
I hope this damen metal will finally run up ! it is about to kill me :)
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wolfstreetswinger
6 months ago
Nice looking bullflag on the 15m chart if that breaks up we could really test that 1330
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shaggie PRO
6 months ago
Any concerns with the long term moving averages acting as resistance above the current price?
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VirtualFax shaggie
6 months ago
It's a few more days not ready.

Apri, can I ask you about a favour. Would you please be able using the cycle analysis (which you seem to be using a lot and good at) to better pinpoint Gold's bottom between now and next Wed? I'm sure it'll help the whole gold bugs community here.
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mrtommifunn PRO VirtualFax
6 months ago
On the current cycle with the end of August the last bottom the next top is due around the 1st week (3rd - 7th ish) October with the bottom coming in at around the beginning of November end of October. Sometimes they come in early or late but they do come in.
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lbg01 PRO mrtommifunn
6 months ago
Hello, where can I learn all this cycle theory / methodology. New to me but highly interested
Thanks
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VirtualFax mrtommifunn
6 months ago
Thanks, this is useful info for sure. But what I actually meant in my post is to pinpoint the Gold's very bottom between now and next Wed(nesday), Sep 21st.
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mrtommifunn PRO VirtualFax
6 months ago
The true bottom is 1302. Though a lower trend line will need to be broken to get there. I believe there is a good chance of this happening once the FED start speaking (it will happen very quickly) and then there will be a huge pullback. This will in turn knock out alot of traders SL and put money into the market for the long . There will be a spike and a good SL may be required to ride it out.
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VirtualFax mrtommifunn
6 months ago
I would speculate that the bottom will be reached before or by Mon EOD and by the time of the speech, though wild movements are expected, Gold will already be a healthy margin away from the bottom.
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mrtommifunn PRO VirtualFax
6 months ago
i hope your right
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VirtualFax
6 months ago
I used the wrong reply link for the same message above so I apologize for the repost:

Apri, can I ask you about a favour. Would you please be able using the cycle analysis (which you seem to be using a lot and good at) to better pinpoint Gold's bottom between now and next Wed? I'm sure it'll help the whole gold bugs community here.
+2 Reply
Nightstar
6 months ago
Oooooh Gold.. Like a cruel mistress, she sure likes to tease :') I blame the dollar. Either way.. I'm starting to like Gold on a 4 hour chart and that cute little inverse H&S?! To die for!

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+1 Reply
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