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Short

GOLD - Short term targets

FX:XAUUSD   Gold / U.S. Dollar
7330 121 105
So again. Key reversal at a good place acts as a key reversal.
The question are we heading to the DCL, ICL or maybe HCL? - I cannot answer right now.
What is sure we are free falling from the Head & shoulders pattern.

The purple line shows the target counted from the H&S pattern. (1241.68)
I also put the FIBO : I think the 61.8% retracement is realistic. (1248.32)
And watch the blue dotted trendline: I would like to see a tag there.
So the take profit area is in the green rectangle .
I'm also watching the daily chart's EMAs. But first let's how this day closes.

PS.: of course they had to break out the price at the Asian session.

Comment: I don't want to frighten anyone, but today we printed a weekly swing...
RSI turning down, and MACD might printing a Kiss and goodbye...
SlowStoch you are te longs last hope...
I just hope those longs really closed last week at 1308.
snapshot
Comment: The 4hrs head and shoulders pattern is just too big not to be noticed. By now everyone has realized the daily key reversal - which is working- or the H&S pattern - which broke down- and the weekly swing -which is in place.
There is no time frame where we don't have a reversal.
It doesn't seem to me that it will turn back. Time to toast the dip buyers.
Comment: Just a few thoughts regarding Brexit.
I studied a bit the circumstances.
The voting will be on Thursday. The voting will be closed at 22:00 GMT Thursday.

In a few minutes we will have the exit polls. That will be very important.
The first datas will show how close will be the votes.

The majority of regional outcomes will be declared between 2:00 and 4:00 AM (GMT).
By 5:00 AM we will have almost all of the datas.
All the big banks will be standby. Banksters will be working. So if you are positioned better to prepare for Thursday night because there will be extreme volatility between 1:00 and 5:00.
Coffee, girls, snacks - get them ready by Thursday night because you will not have time to jump down to the corner supermarket.
Comment: Banks are working hard today. They've cleaned out the late short entries' stops in the
morning
snapshot
Comment: It's almost always the sign that they want to push prices below tha last few hours' lows.
In this case below 1260$
Comment: I have a strange feeling that while the short players - me also - is waiting for a gold collapse early morning when the 1st results are coming out. But the volte results are getting priced today.
So we have to be very very careful. We might have to get out every gold short position today.
Before midnight GMT.
Comment: If we break below 1260$ today afternoon and we tag 1250 or 1240-45 I will close my shorts.
I will be watching the miners action as well. I think miners will print a gap open today wit hsome kind of panic. Here in the Metal trade I dont have miners positions but I have some on my personal account.
If I close those positions I will post here also as I know a lot of you are short in the miners.
Comment: Guys if the banks want to turn gold up first they will panic the longs.
:D
So that is coming now. Sit tight and enjoy the show.
We will have a nice afternoon.
Comment: And we are so lucky. USDJPY broke out...
snapshot
Comment: Ready.
Comment: Steady
Comment: BREEEEAAAAK!
Comment: MIners will be annihilated . Yesterday's break out was just a fake move.
Big players were selling the shares to retail again.
Comment: It's starting.
Hourly MACD crossed over
snapshot
Have to say this was spot on
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Lots of margin call for gold shorter. I warned this a week ago. DUST leverage is the worst place to put your bet.
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Quant forged
The TA provided no insight. TA identifies trends and you use TA to predict trends, indeed result...
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forged Quant
Agree, but combine it with weekly candle stick view for confirmation & this is where TA people forgot to apply. I did say last week, on weekly candle gold has formed 3 while soldiers green candles, it almost always follow up another green candle on the 4th week. I was right.
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Gold is going up vertical, as predicted. Epic rise.
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I will sell all my DUST tomorrow morning when gold down to 1245. Thanks.
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rohithisgood ice_holly01
You don't think holding DUST till Monday will get you more $ ?
Reply
Somebody was buying on the way down.
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How last 5 minutes will look like?
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pbartashevich PRO pbartashevich
Head and shoulders break down in Gold?
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