FX:XAUUSD   Gold / U.S. Dollar
18852 59 245
The last trade on Gold             was stopped at 1169
Which is very essential, coz the price went up
another 10 points after the break out.

Right Now I am thinking of 1199 level
to watch and re-enter a short
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Comment: watch for the wedge to be broken
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Comment: From 1120 TO 1192, 180 pips gain
Comment: Now is 1185 TP1 is 1167
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thanks for the update.

major trend change?

I think over 1200, XAU can be considered bullish.
+5 Reply
arif_awan MertErten
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amozb arif_awan
@arif_awan, What trading style is this?
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dotumza arif_awan
@arif_awan, Jackie Chan all round developed trading
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Strange, why you're shorting gold when it is clearly trending up now. Isn't it better to buy pullbacks all the way up?
+6 Reply
XiaoLi 4xgood
@4xgood, I am a huge fun of projack. But I think you are right this time
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Jack, what's wrong with this gold short ideas?

I remember your old idea, you looking for longs near 1120
Gold Weekly Cypher Pattern tells us when should we buy gold


Why the plan changed?
+14 Reply
DMK8680 RAZRus
@RAZRus, Have you looked at the gold chart since then? Gold's low was 1122.5 (in Dec) - that's pretty f'ing close. I would guess the 1300's is still be his ultimate target (possibly higher) if you're looking to play it long term but in the intermediate term, there will be ups and there will be downs. It rarely goes in a straight line.
+2 Reply
harryexe RAZRus
@RAZRus, Wow indeed
+1 Reply
why always short ?
+3 Reply
It's clearly moving up.
Gold moving up
+4 Reply
The PBOC may have intervened today to prop up the CHYUSD exchange rate, selling USD. Fear might have set in, sending XAUUSD higher. This situation may persist. Shorting may be very profitable, but the situation IMHO requires extra prudence.
+2 Reply
it looks to me this rally is wave No 1 of a 5 sequence , initiating an uptrend, eventually a corrective No 2 wave will be in place this particular wave will be ending with a higher low maybe Jack is waiting to ride that one I will be watching closely how the sequence develops , IF the next low is below the most recent made in Dec then is the continuation of the downtrend I am oriented more to the upside because
the negative rate of change in price ( momentum ) has been slowing down

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realy ?
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FerminNunez AlperCanbaz
@AlperCanbaz, There are many ways to trade , all valid , I have been trading momentum for quite a long time all I can say I am comfortable , 100 % rate of success... definetely NOT !
I have survived due to risk management and money management , placing a stop loss , moving it accordingly , and risking a prudent amount of Dollars has kept me afloat
+1 Reply
Always love your sharing. I'm still bearish on gold too.
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Jack what do you think short gold now ? it hit the resistance
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Makes sense
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I have been long since 1130 while most people has been negative, a big long since 1130 and my bet seems to be right. We will break 1200 level also when Trump enter the office.
+2 Reply
Simon_says nadtrading
@nadtrading, So why you didn't publish any plots about it?!
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nadtrading Simon_says
@Simon_says, I did wrote about it long ago it was a BET and as mentioned when also about President elect Trump was also right like I wrote over it will break 1200 level which it did :)
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Ok Jack, we have reached the target, lets see what is happening. When do we know it is safe to enter short again?
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Simon_says ReachMy7Goal
@ReachMy7Goal, I think it will continue going up for a while.

Short term correction before Trump
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nadtrading Simon_says
@Simon_says, why would you think it will go down to 1000 level when Trump enters the office? I strongly doubt and think Gold will move up.
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Calamity Simon_says
@Simon_says, why your BC is so long lol
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Simon_says Calamity
@Calamity, I'm still learning.

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Sharky8899. Simon_says
@Simon_says, I think people will be disappointed, they do not understand that his plans will take a long time to play out.
+1 Reply
Simon_says Sharky8899.
@Sharky8899., I just think commodities will go down and stock market will continue going up as "Trump will soon be begging the Fed for QE4: Marc Faber".

http://www.cnbc.com/2017/01/10/trump-will-soon-be-begging-the-fed-for-qe4-marc-faber.html
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Sharky8899. Simon_says
@Simon_says, I dont know about that. The dollar has a 15year cycle and its just having its last bubble phase, once thats over commodities will do well.
+1 Reply
Simon_says Sharky8899.
@Sharky8899., Of course, I may be wrong. Let's wait and watch :)
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investment6300 Simon_says
@Simon_says, You need to consider yearly cycles and previous YCL with new YCL higher low means the trend turned to bull
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it might be a good time to short
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Did you enter your shorts,Jack?
+2 Reply
thanks a lot.
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Hi ProJack :)

I'm still waiting for your opinion.

Best wishes & Thanks
+1 Reply
Bullish to 1250 atleast imo but we could see a minor retracement before then
+2 Reply
SageFXTrading Francis12345b
@Francis12345b, I'm in agreement with you :)
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Hi Jack I love to see ur chart ,Thank u :))
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Thank you sir
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Agree but only sell under certain conditions.
If they will not appear its best to wait for the retrace to be completed and buy along the weekly trend.
https://www.screencast.com/t/UW4uFUiBkezq

I don't see a sell condition yet.
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Oh! my God !!!!!
+1 Reply
Gold can easily move to 1240-1250 region before next leg down. Don't short too early.
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tntsunrise TOP BhaktaBasics
@BhaktaBasics, need to break up 1220 first.
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BhaktaBasics tntsunrise
@tntsunrise, Yes agree but there is a strong possibility of this occurring with further expected weakness of USD. We could come down to lower channel and then have a final surge towards area noted. If this happens I will keep an eye for further divergences to go short in that area as the move lower will be sizeable. Just my opinion :-)
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Thank you ProJack ^^

+1 Reply
Channel seem to be broken now Jack!
+1 Reply
tntsunrise TOP hasansahoglu
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hasansahoglu tntsunrise
@tntsunrise, still waiting for pull back I suppose? I had a chance to enter at 1206 but I didn't. Hope its not too late ;)
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nice chart! you great! #teamProjack :)
+1 Reply
Agree
Preparation Before ECB RATE AHEAD GOLD LEVELS and Zones
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Re-testing channel!
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Hello Projack^^
Trade active or not.
I'm looking forward to seeing your chart.
Thanks
+1 Reply
Jack, are you already on Short position ?
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Hey Jack, is this setup invalidated already ? or are you still long ?

Thank you !
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SORRY TO SAY SIR BUT NONE OF THE CALLS ARE HITTING YR TARGET THESE DAYS
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SEE GOLD SEE S AND P
+1 Reply
hghodsi montu3281
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Nice man...
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The last comment should be "from 1220", not "1120" :-)
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