We are simply running out of time for breaking above 1300$. So there are 2 possibilities: 1. We will be in a long consolidation till the middle or end of September to reset the bullish sentiment. or 2. we have a hell of a decline in the next 2 weeks.
I know it would be nice to believe that Jackson Hole will bring the breakout above 1300$. But... Yellen will need to talk about how they will start to pull out the money from the market in the next year(s).So her speech needs to have some hawkish tone tomorrow. Hopefully Draghi will pull out his head out of his *** and starts to weaken the euro in his speech on Friday. Otherwise we will be buying Fords instead of Mercedes, Bmws, Nissans and Toyotas in 2019-20.
The key level is 1281.82$. Thats the neckline of the H&S pattern and that's the level we are going to test today. If that breaks we will be testing the next level very soon.
My only concern are the 2 wardogs. If they open their mouths the picture can be re-painted easily.
Comment
⋅
For Staxs... It's important so I will post it under my post:
Comment
⋅
There will probably be a new president of the FED in early 2018 after Janet Yellen's term expires.
Comment
⋅
So far there will be a specific idea of the plans and first steps will be in progress.
Comment
⋅
It would be best if the next president pursued the strategy that had been started, thereby reducing the uncertainty surrounding transitional periods.
Comment
⋅
The minutes of the FED's latest meeting show that they have begun to think about cutting down their $ 4.5 billion bonds.
Comment
⋅
Beginning of the decommissioning of bonds would have an impact on other markets due to their size, according to Janet Yellen, this step would practically work as an interest rate increase.
Comment
⋅
Jackson Hole is the place where Yellen needs to prepare the market for this step.
Comment
⋅
The Fed's balance sheet total swung by $ 3 trillion to $ 4.5 trillion due to bond purchases made during the financial crisis.
Comment
⋅
If they are decomissioning the bonds the USD will strengthen. At least there will be a bounce on the weekly chart.
Comment
⋅
"Fed's Kaplan says Fed should start shrinking balance sheet 'as soon as possible'" that's what I'm talking about. Yellen will have to talk about it tomorrow..
Comment
⋅
Let the game begin....
Comment
⋅
Small players, traders on margin, close stops are out of the game.
GOLD IS IN BULL TREND WHY YOU ARE SHORTING!!! wait for the confirmation to sell OR just sell and take profit and short targets
this correction will hold in 1301 next target 1294 -1293
lots of people will jump in to sell then we will do the same for next target 1345 then 1370
be flexible with the market
am long until 1370
Trade with your eyes not with your mind
popshvt
⋅
@usef, why u get the pricise number maybe just ur wishful thinking ?
usef
⋅
@popshvt, you can try to use fibonacci for the corrections it will help you
try to put fibonacci for the move from 1275 to 1325- you can get targets
chartwatchers
⋅
@usef, Countertrend rallies are much better and faster. You look nervous. Breakout is not working .
Hope you didn't buy on Kim's launching night. 1325 might be a top for a while...
I'm short from 1312$...
usef
⋅
@chartwatchers Arpi , can you tell me why gold is short!!
I Told you from 1200 that market will not make lower lows in weekly
it seems to me you are trying to take revenge
by the way am long from 1282 target is 1370
popshvt
⋅
@usef, started with a scalp and accidently hit pay dirt am i right?
this correction will hold in 1301 next target 1294 -1293
lots of people will jump in to sell then we will do the same for next target 1345 then 1370
be flexible with the market
am long until 1370
Trade with your eyes not with your mind