World of volatility. 3 green days cleared in a blink of a moment. I strongly suggest to get out of your longs if you didn't stopped out. This is the beginning of a serious decline and someone gave the final push to gold in the last hour in this attack.
Pattern I posted on Friday a perfect entry below my last post. We had a head and shoulders pattern on the chart with the neckline at 1259$. The apex of the previous important triangle pattern was also at 1259$. We tested back the neckline on Friday. I was adding at that point. We regained the 200 SMA last week but that didn't last for too long... The other important thing that we broke the semester's trendline with this waterfall decline this morning. (To be continued a few minutes later...)
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I see a few traders on the chat watching a trendline. I think that smaller trendline is not valid. I will post the trendline below this post which I think is valid.
We've sen these kind of attacks during gold's bear market. It seems today's night attack is one of these nasty tricks again. If banks are hitting gold again your only chance is to join their side...
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Before we start to celebrate the new highs in gold let's be objective and take a look at the numbers: EurUsd +1,4% DXY -1,1% XauUsd +0,5%
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Gold is terrible weak. With a DXY -1,1% we should be well above 1260$.
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I don't see anything bullish on the XAUEUR chart...
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We just need the Euro to top.
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Watching the miners I wouldn't be surprised if another attack comes this night. Gold is clearly capped.
I hope you had a stop loss. Gold ship is sinking fast. I hope you continue replying Bjorn, makes me more confident in chartwatchers ideas! :)
BjornPfaff
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New support formed 1245.79 , we will see higher highs again , no downmove in coming days
BjornPfaff
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@BjornPfaff, as i said .. higher low .. new hghs bulls in action , dont fight the trend guys
MathiRaja
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xauusd next target price
usef
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dont chase the market all indicators positive divergence
we covered all the long red candle
it will be strong wave up
dont miss this position
just if we break 1258 then 1262 thats the start