GOLD - Bear flag is breaking down

FX:XAUUSD   Gold Spot / U.S. Dollar
945 13 26
Finally it seems that the bear flag is breaking down in gold's hourly chart.
MACD crossed over.
The 1210 Zone will be tested again probably.
Comment: MARUBOZU candlestick in the breakdown.
Comment: ... and hourly minimum
Comment: I would like to warn those who were using the RSI strategy in gold. It was working nicely till now. If gold breaks down and prints a strong and fast drawdown the RSI strategy will make loss. I would wait while it breaks below 1200 and start to use the RSI strategy from 1170-1180 $ from the oversold levels with a long.
Comment: We are back in the flag again...
This bull is not giving up easily.
Ok.. Thanks for sharing i will looking forward...but Keep n eye... Draw trendline @D1 chart... Seem like triangle .between 1280-1246
Why ur thought it could reach till 1180? If 1240-35 broken bull will powerless... We did't see 1200 for long time... Massive sell off towards 1111 1080...1000
chartwatchers Sakakikunmakio
This is Loii's chart. I just wanted to show you that even he's short.
1120 is not out of the table. That's why I not suggest the short for you...
Heyy take a look this chart... This scenario will repeat again for coming week...
chartwatchers Sakakikunmakio
Your forever long friend Loii is also short by now.
If you don't think I'm true just be at the sidelines but pls no long for a month.
They will slam the bulls... I have seen this many times before.
we made a flag last week and it went up? how did u explain that
Depends which do you think?
We had a bull flag and a bear flag.
The bull flag breaks to the upside
The bear flag breaks to the downside - in most of the cases.
I can't guarantee the follow through , though.
Loii chartwatchers
i seen many failed bear flags. cant go with just the flag formation to trade on. we're in a 4h bullish channel.
I'm not going to fight against 357.000 commercial short.
Loii chartwatchers
we just broke 43 again . :D
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