HI GUYS, SUPPLEMENTARY TO MY PREVIOUS ANALYSIS ON GOLD, HERE'S AND UPDATE ON DAILY.
REMINDED: PREVIOUSLY I'VE POSTED THAT GOLD IS TOPPED OUT AND TARGET FOR BEARS WAS 1440//1460.
NOW I'M REVISING THIS TARGET TO 1300 WITHIN NEXT 6-12 WEEKS. REASON: HEDGE FUNDS ARE MAXED OUT LONG GOLD (95%) AND ARE COVERING THEIR EXPOSURE NOW (COT DATA).
WHILE BIG PLAYERS ARE TRIMMING EXPOSURE, THIS MARKET WILL START TO ROLL OVER. JUST SCROLL TO THE LEFT SIDE AND YOU WILL SEE EXACT SAME PATTERN IN PLAY RIGHT NOW.
RECOMMENDED STRATEGY: SHORT SELL ANY RIPS ON 4HOUR PRICE CHART AFTER 1460 BREAK DOWN. IT WILL COME SHORTLY.
SHORT SELLING ANY SPIKES AND HOLDING SHORT IS A NICE SWING TRADE SETUP NOW. BUT FOR MAX PROFIT YOU HAVE TO HOLD THIS TRADE FOR A WHILE.
GOOD LUCK, TRADERS!
REMINDED: PREVIOUSLY I'VE POSTED THAT GOLD IS TOPPED OUT AND TARGET FOR BEARS WAS 1440//1460.
NOW I'M REVISING THIS TARGET TO 1300 WITHIN NEXT 6-12 WEEKS. REASON: HEDGE FUNDS ARE MAXED OUT LONG GOLD (95%) AND ARE COVERING THEIR EXPOSURE NOW (COT DATA).
WHILE BIG PLAYERS ARE TRIMMING EXPOSURE, THIS MARKET WILL START TO ROLL OVER. JUST SCROLL TO THE LEFT SIDE AND YOU WILL SEE EXACT SAME PATTERN IN PLAY RIGHT NOW.
RECOMMENDED STRATEGY: SHORT SELL ANY RIPS ON 4HOUR PRICE CHART AFTER 1460 BREAK DOWN. IT WILL COME SHORTLY.
SHORT SELLING ANY SPIKES AND HOLDING SHORT IS A NICE SWING TRADE SETUP NOW. BUT FOR MAX PROFIT YOU HAVE TO HOLD THIS TRADE FOR A WHILE.
GOOD LUCK, TRADERS!
Comment:
THIS IS COT SNAP SHOT. EXACTLY THE SAME POSITIONING AS THE LAST DUMP.
Trade active:
BOUNCE IS VERY LIKELY FROM HERE.
1440-1450 INTO 1470-1475.
I RECOMMEND SHORT SELLING INTO THE BOUNCE
AND HOLDING SHORT UNTIL AT LEAST 1400.
1440-1450 INTO 1470-1475.
I RECOMMEND SHORT SELLING INTO THE BOUNCE
AND HOLDING SHORT UNTIL AT LEAST 1400.
