GOLD : feeding the bulls

FX:XAUUSD   Gold / U.S. Dollar
640 21 25
Gold             is going opposite the dollar (following the EurUsd             )
I think the dollar is ready to rally ( EurUsd             is breaking down) - maybe today at the ECB meeting- and that might trigger the gold             breakdown.

So all the bulls who are buying gold             will be caught on the wrong side of the market.
Comment: Bulls are feeded.
We are going down.
This is a long looking short.
Comment: Breaking down.
It will be a scary breakdown.
It will look like 1000$ is coming...
Thinking about opening a position in DUST?
chartwatchers PRO dimitriosb602
Sooner or later the miners will start a correction (DUST will go up) and gold breaks down below 1200...
The question is when?
If you can survive a steep drop you can buy.But you have to get prepaired DUST to go down to 0.5$.

If you open just a small position with 20-30% margin impact in a month you will make money on it.
But dont go all in. I f you need help I calculate a margin impact for you , just send me a personal message.
+1 Reply
chartwatchers PRO chartwatchers
Once you opened and they do a split you must not add to the position.
AlphaDreams chartwatchers
Is DUST still an option to short gold, in tomorrow, and out in about a week?
+1 Reply
AlphaDreams AlphaDreams
Or should we wait until the split?
Split has no effect on the performation of the position. Your profit or loss will be the same after that.

I would enter now not after the split. At the split we will be higher most probably, and possible that gold correction will be over by that time( 18.05)
If you enter now you have to surrvive a 1.5$ drawdown now. Im not saying that its coming down 1.5$ but you have to prepare for that. And one more thing. If you enter now you must not add after the split. Actually you should have a core position and no adding to that.
keefer0 dimitriosb602
exactly, if you're looking for a short term trade in DUST less than a week, you may be ok. But no longer than that as it very well may go to under $1.. then they will reverse split
+1 Reply
agreed, we are near the top of Gold
tcp007 keefer0
DUST has a 1:10 reverse split slated for 5/18/16.
keefer0 tcp007
thank you
tcp007 keefer0
You're welcome. I wish I didn't know this...but I got caught.
Get out in the next hourly candle. Or right now.
It's going to collapse. The dollar is supporting the gold decline...
chartwatchers PRO chartwatchers
We migh go back to 1255.
keefer0 chartwatchers
get out of gold?
I wrote it to tcp - he is long
keefer0 chartwatchers
ok.. for god sakes.. .get out of gold long.... buy DUST for the next week
DXY is rallying, with triple bottom and strong earnings and less than expected jobless claims
Totally agreed. Gold is heading to the intermediate cycle low finally.
It will be a scary correction. I have seen it before: breaking resistances to the upside and a big decline.
tcp007 chartwatchers
As you might recall, I bought prior to March FOMC and then doubled down. I'm screwed. My average is above $3. I'm at work and trying to watch when I can... missed your last notes.
tcp007 chartwatchers
I just looked at some charts from guys you both probably know, with XAUUSD targets in the 1180's. I chose to read and learn as much as possible from that group, and made the connection that similar trends would be true with miners DUST / NUGT / GDX. Perhaps that thinking is horribly flawed? *IF* xauusd should trend down sub 1200's by early May, would GDX trend lower as well, and enough to boost DUST? Thanks for the education... it is greatly appreciated!
Yes. If gold starts to go down finally, GDX GDXJ will fall and DUST will rally.
NUGT will fall slso.
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