mshtusar
Long

Gold: Best time to enter a BUY

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold has broken previous low 1458.97 and made new low 1456.12
I told my last post on gold , I will look for a Buy even it breaks 1458.97
Now I am expecting it to go at least 1515
It may break 1556.88 and come down for Bigger C, but it is too early to tell that story
https://www.tradingview.com/chart/1MgjyLIH/

Bond yields direct gold price. Look at US30Y .. ever since the REPO madness bond yields started surging. Stock markets need bond prices to go down, yields up, to seem everything is great again. Gold is just a bystander getting squashed at this point, there's nothing gold can do when yields go up, except go down (in my opinion).

Do you have any concrete reason for gold going up/bond yields going down? .. Everyone would suddenly have to start jumping to bonds, but it looks like everything is running away from them at this point. The yield curve inversion has been forgotten about, and everything is back to "normal" according to news.. "What recession?" ... red flags have disappeared.
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mshtusar otterslide
@otterslide, thanks for having your comment. you have a very nice understanding, I am just showing what I am seeing according to my TA and structure changes time to time depending on economical data and big players positions
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otterslide mshtusar
@mshtusar, Well I've been wrong in the past for sure, so we'll see.. It looks like a fight between bonds and stock market to me, and the stocks are winning. Buybacks and all sorts of injections to keep the market going.. You probably know we're basically on QE4. They lowered rates and yet bond yields are surging, .. it won't last forever, I think it's the last big push. Maybe Trump will be impeached eventually and when it crashes he will blame it on impeachment.
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mshtusar otterslide
@otterslide, I admire your view. Next week data can change the structure and we may have good sign to enter any trade
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otterslide mshtusar
@mshtusar, Take a look at the US02Y before the last couple of recessions, 2002 and 2008 , there is a big up/down, and then a small bounce.
Next week will be FOMC meeting, Powell will speak and gold will likely fall, as almost every time Powell speaks gold falls. He will probably again say the same thing, no recession, economy is strong, etc. He will never say anything bad for the economy.
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mshtusar alimannn
@alimannn, Thanks for your comment. At the end of the day Market is always right
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alimannn mshtusar
@mshtusar, If you look at the chart well, you will find that it was drawn before it went down.
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mshtusar alimannn
@alimannn, Sorry, I didn't zoom it. Gold is now on a critical situation. Next week data may give some very good confirmation
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