faylee

Possible Cypher Pattern for Gold longer term view

OANDA:XAUUSD   Gold
1693 7 59
Gold             already choosed downward movement, since break down the wedge in Oct             .
So I'm here to adjust slightly for my longer term stratage.
If Gold             price won't break out $1330 in the coming month, it's possible to fall to $1150-1160 level, till Feb.,2017, Then move up.
Comment: Monthly PA predition
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Comment: Price Action Analysis
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Comment: likely will test channel floor at 1185
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Comment: This short term target will match the long term analysis:
NFP may have a final drop for USD20-30, to target $1153-$1148

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Comment: compared with the rate hike of last year: From Oct.28,2015 to Dec 3,2015, Gold price fell $138,that is for the 1st time rate hike.
NFP is Dec 2,2016, maybe the history will repeat.
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Comment: NFP we'll find a good entry for long
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Hi Faylee,

ADP is showing a huge gain in employment change. Hopefully, the NFP also reflects this.

The mismatch between in ADP and NFP has occurred only a few months.

U.S. ADP Nonfarm Employment Change

Latest Release
Nov 30, 2016
Actual
216K
Forecast
165K
Previous
119K
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It would be a fantastic forecasting :-)
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Dear what is your next stop ? thanks..
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Your chart is happening, great job :)
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Faylee,

Yes, I agree with you in this chart, I believe that US FED will not increase the interest rate before the US election date, but then they will more likely to raise it on December after the new US president is elected.

if all goes according to that plan, your chart is happening.
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Dear Faylee, The break down of 1300 level was only initiated by traders that trades at short times (paper gold). There has no selling at ETF's (real gold holdings). I have added a link / document here that is very interesting. http://seekingalpha.com/article/4012285-sure-gold-positions-take-look-far-east-answers?uprof=45&isDirectRoadblock=true
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RuhailKhan Gold_Bubble
very good website , thanx Gold Bubble.
+2 Reply
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