chartwatchers
Short

GOLD - Levels to watch

FX:XAUUSD   Gold / U.S. Dollar
1926 31 43
Today's candlestick predicting that this is going to be a filthy decline.
I will use the EMAs to sign the breakdowns levels and the testbacks.
Today we closed on the 20 EMA . I think we are going to break it down soon (maybe tonight). The next level to watch is the 50 EMA at 1239.7. A lot of people is watching the blue trendline below the 50EMA and I'm pretty sure we will tag it or break it at this DCL.
The next level is the 100 EMA (1208). I'm planning to take profits around there.

I've signed the last decline (october-december). This is one going to be much more seriuos.

WATCHING TODAY'S CANDLESTICK : THE DAILY CYCLE LOW AT 1208 IS ABSOLUTELY POSSIBLE THIS WEEK
Comment: Pullback is done.
Turning down from the 100 EMA(4hrs chrt)
Show must go on.
snapshot
Comment: Just a fakeout move again to the upside. They want the stops above 1267 before the next leg down.
Dollar is rallying with stocks and gold on the hourly chart..
Comment:
snapshot
Comment: Longs should be closed now in this fake move. But I think they will be hoping instead of closing.
You are the boss. Went long LABU and short gold yesterday. Also heavily long UPRO with toght stop
+2 Reply
chartwatchers PRO lachy.gorman
You mean sunday night or on Monday?
Nice profits isn' it?
+2 Reply
By the way, I was with you on Natural Gas at the bottom
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chartwatchers PRO lachy.gorman
Nice. It's now in the sideway consolidation but going to be good again soon...
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Hi, I must commend you on your expert analysis over the past few days....I'm a new trader only with a demo station at present, but you have giving me so much confidence to be able to start live trading. I will be following your ideas from now on. Cheers Ron. Ps keep up the good work!!
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This year is going to be fantastic. Lot of possibilities.
A good time to start a real account.
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RaimondasKarth PRO chartwatchers
Lost a lot of Money fallowing some guru on twitter, hope to recover this with you. Ronnee You find the good person !!!
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When Gold reaches 1208 , what might be the price of JDST ? This declined like hell not sure if my avg price $5 will be reached
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Around 5.5-6$
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chartwatchers PRO chartwatchers
But at the 3xETF very hard to tell how far a correction goes. We see it in real time.
I'm going to close DUST when gold bottoms. Not watching the DUST chart. I just posted yesterday the island reversal to show it's reversing strongly.
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Which is te better entry to short gold again?
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chartwatchers PRO alanprotrader
THe perfect timing was at 1293 after the NFP but I think I was pulling the trigger almost alone.
The next good time was before the breakdown yesterday aroun 127x.
If we finish the pullback today on the 4hrs it's also good. I'm not waiting for a big pullback. Stocks will rally today, the dollar is strong. No reason to buy gold. WHen USA markets open they will sell it again.
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Just starting to follow your ideas, I really like the in depth explanation, excellent. I'm not familiar with this DCL?
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chartwatchers PRO RecoveringBanker
This is the daily cycle low. I use cycles to find bottoms.
I us daily cycles and bigger monthly/intermediate cycles. If you follow me and read the posts you will understand. Or just read all the old posts in gold.
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Great analysis and judgement, excellent sir
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Thank you for support.
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Yep natty is about to make a big move. Been holding my July UNG calls since March.
Im aussie so the ASX starts 16 hours before nyse so took my positions then.

@recoveringbanker DCL means daily cycle low. Watch chartwatchers other ideas for more learning
+1 Reply
Stalling @ $1260 price established back on April 11th???
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gold weekly chart
gold still may kiss 200ma in weekly chart
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It's too late for that. With the rallying dollar, oil and stocks there are much better things to buy than the overbought Precious metals.
You have to wait for that kiss till August or September...
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Rayge chartwatchers
dxy
definitely, dollar may up to 108, and gold may down to 1160-1180 area, to complete wave B
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Is now a good time to add more DUST? Thanks.
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Yes.
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snapshot


seems like a perfect hit at the .38 fibo level of the inital move down - would open up targets at about 1241.
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MoLee nexuz
Seems like a retracement might hit the 0.5 before moving down.
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nexuz MoLee
yep seems so - RSI and Slow Stoch overbought. Starts to look good :)
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Do you think RSI at 6 is better than 14 ? Thanks
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On the daily chart I prefer to use that.
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nexuz chartwatchers
im testing around with atm with 5/6/14 and imho 5/6 delivers better signals than 14 - but the test only runs for about 3 days now :)
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snapshot



looks promising imho - DXY also looks like it finished the pullback in the 4hours chart
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Exactly. And I think the dollar might push down oil one more time in the range...
THat's why I closed a little of it. But the range will not affect ERX...
It could run for more time...
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