williamng70
Long

GOLD long "U"-turn

OANDA:XAUUSD   Gold / U.S. Dollar
Hi Guys!,

In my opinion, gold             (currently bearish ) will head lower to $1190's (short-med term)
and then to the $1180's once Yellen announces a rate hike early Dec             . (Which I think will happen)
Long after she hikes, will head back to the uptrend channel and ride it back to the $1300's+.
Yes, I'm a novice and open to any criticism.

My first published idea. Enjoy!

Regards,

Will
Comment: Take note of the YTD RSI...its heading to the bottom..same exact RSI movement alike to last November. History repeats itself, I honestly think this pattern will suffice in the long term.
Comment: Wow..looks like it did hit 1196. I'm 1 for 1 so far :)
Comment: $1180's...o_O..There is a chance that the rate hike is priced in already. It wouldn't hurt to go long now at your own risk.
Hi,,I'm a novice too! Think you are right,......does worry me though,that it's, so obvious to everyone really!! It's never usually that easy! There are some pundits talking as low as 680 though!! Plenty of early bulls must be hurting,even now...I don't care if I miss the bottom, conditions need to be right before I'm going long....ie Fed rates, USDollar,,,India?.... Maybe , new year before a big run up.....recession...trade wars..picking 2Q could be the time....cheers..just thoughts
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