FX:XAUUSD Gold / U.S. Dollar
Comment: Crazy to think we only broken this line once!
Comment: This is still valid as long as this daily candle closes above 1254
Comment: was up almost 40k floating profit at $1358 but the $20 drop was too fast. could only close at 20k aud profit. better than nothing
Comment: taking another holiday in 2 weeks haha ;)
if u read the comments on that chart i said i am no longer bias to bears. i said neutral. also this graph is just a supportive chart for gold bulls. i only have 0.6 lots long on gold. i will short bigger lots if the trend is bearish. i would keep this position long term becos i have alot of capital.
The Miners rallied at the end of the day, that could very well support your 'bullish bias'. Or we could be in for an unpleasant surprise.. either way, Commodities are in a bullish market and once all the hype and anxiety from the Brexit dies down; it will be business as usual for Gold.. meaning up we go!
Hi Loii, now we have reached this point in time, I do like your idea...1 the USD...2 Yellen speech ie int rate decrease, maybe..3 Bremain odds are..will create more infighting over migrants etc..... This market seems to have lost its emphasis to go lower at this point..another cycle up could be real now..cheers..good to read your thoughts and charting expertise.. Things change rapidly and you need to try and stay on top eh...Ron NZ .. Just might hedge or stay out until........
More I think about it the more I like this..remain vote as always been odds on to win this, so much of that would be priced in the market..I'm don't think the sellers will have the power to break this line..as you say not been done often...the drop for remain may have happened..if the vote does go exit gold will skyrocket no question..but remain is Statius quo, so downward pressure is probably not great....the dollar is weak..us economy is wreaking ie no rate inc, in fact decrease likely now...just my thoughts,but they fit your chart..........
Thanx Loii , went ew on this long at 67!! and short at 50..haha have deleted that out of play...1267...1335..very pleased...thanx for your help which confirmed my thinking...once NY get on this it may hit 1400 or something? Depends on final result of course..may be there's a surprise to come at the last minute..need to get over 75% counted I would think before being 100% certain,,,it could drop $100 if result swings back!, cheers Ron NZ
Yes, I was a bit surprise NY didn't push it higher , big players probably using overseas brokers, anyway, yea ...i can only see a int rate decrease now after Yellen spoke, not a increase..if more countries want to defect from the union...an any other bad global news appears it should push gold..., meantime could certainly retrace to lower levels...cheers...keep up the good work..Ron NZ