2017. July : Gold broke an important resistance of 1216$. Before the panic selling could have started, Kim Jong Un's nuclear test and missile launch over Japan stopped the panic selling in gold.
Gold was forced into a shorter intermediate cycle that summer. The next intermediate cycle was extremely long. It lasted for 177 bars. Our current intermediate cycle is on day 187 today. If we accept that the intermediate cycle haven't bottomed yet....
But I don't think so... I think we are on day 2 of a new intermediate cycle and Kim Jong Un is a headline again. Trump just tweeted about how tariffs are going up from 10% to 25% on Friday. The NAS100USD has dropped nearly 200 points at tonight's open.
Gold had 2 chances to start its panic selling during the last 2 weeks. It didn't start though.
Notice how the RSI is printing the oversold zigzag what I laike to see at the intermediate bottoms. Also the daily MACD has crossed over. I think we are finally ready. Invictus gave an entry signal both miners and gold. I think finally we are ready to launch.
1288 is the weekly swing level, above that the short squeeze is starting.
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We might get our breakout finally this week.
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While everybody is waiting for a lower low and a severe panic selling gold quietly breaking out.
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Nadty reversal from the trendline by the close:
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I still think this ugly red pinbar will be erased by friday close and we will break through the trendline next week.
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We might erase it today already.
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There will be an extreme rally if we break 1292. Everybody and his dog went short at the close of yesterday -based on the bearish pinbar.
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Better to fasten the seatbelts.
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Someone big is buying.
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New high. Breakout from the double bottom.
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We are in the new intermediate cycle
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If you have some dry powder or if you missed this gold call you still can buy silver.
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I think it’s going to follow gold very soon.
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Flag breaking out.
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Bad timing in gold manipulation:
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The trendline and the breakout tested back yesterday. Can we start finally ?
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Still holding the longs despite the frustrating whipsaws. Yesterday’s green candle have a follow through:
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Let’s See if the unlimited seller comes back again today or not.
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On the other hand God might be signaling the bottom in the currency market:
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Higher high
Trade closed manually
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Invictus gave a sell signal.
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Closed at 1324,9
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I will buy the pullback if there will be. After all we have nearly 50$ profit.
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I jumped out a day earlier.. I'm not in a big rush to load longs yet.
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We just tagged the upper trendline and turned down violently. The risk is high that the daily close will be a 1. Inverted green hammer 2. Shooting star 3. inverted red hammer
Still waiting for a pullback to 1310, still possible? I see bearish crossover. @chartwatchers
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@mehmetgdogan, Yep I'm waiting. I think the daily cycle topped yesterday.
I can't guarantee a drop to 1310 but I wouldn't be long here.
We will buy again when not everybody is talking about a break above 1365.
When I entered long everybody was talking about bloodbath phases , 1250, 1200 etc.
I bought there.
mehmetgdogan
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@chartwatchers, do you buy a pullback here to 1365 or do you see a major retracement?
glewing123
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Out of long this morning. what are we looking for on pullback reentry? kind of like $1310 area...
chartwatchers
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@glewing123, Yea. Something like that. I will update in pm the 34 people who liked this idea.
We are moving into the DCL.
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I sold a little early in the day and missed the afternoon rally in miners, but good profits. I am charting a DCL centered around June 21, so I'll wait for a pullback later in the month to catch the 2nd wave up. Yes - WHAT is Invictus? I could only find one slightly financial relation to that term on the web.... Perhaps share a link to their marketing material?
Nightstar
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Looks like one of the big banks is trying to unload their SHORTS :/ Despite the shenanigans, MINERS are holding up exceptionally well and SILVER is about to print its final low :)
The second half of 2019 looks very promising for the metals.
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@Nightstar, Agreed . Bank shorting or a government selling. Whtever is happening they are too late for this action. The time to short gold weeks ago.