Gold had every chance to tag to the purple trendline while the dollar rallied.
That never happened though. Gold's intermediate corrections was getting shorter and shorter during the last year. The reason is the central banks' money printing since 2009. I think that money landed in the stock market first and in the last year it was migrating into the precious metal sector.
Notice how shallow was the gold drop despite the dollar rally :
This long call is based on the Heikin Ashi daily chart : we are printing the 3rd green candle with MACD crossing over and RSI 6 intermediate correction signals.
A daily close above 1358-1360 will signal the breakout and a clear path to 1400.
First target is 1400 in the next 3 weeks.
Levels to watch:
20 EMA
Blue trendline
100 SMA
1360 Level
That never happened though. Gold's intermediate corrections was getting shorter and shorter during the last year. The reason is the central banks' money printing since 2009. I think that money landed in the stock market first and in the last year it was migrating into the precious metal sector.
Notice how shallow was the gold drop despite the dollar rally :
This long call is based on the Heikin Ashi daily chart : we are printing the 3rd green candle with MACD crossing over and RSI 6 intermediate correction signals.
A daily close above 1358-1360 will signal the breakout and a clear path to 1400.
First target is 1400 in the next 3 weeks.
Levels to watch:
20 EMA
Blue trendline
100 SMA
1360 Level
Trade closed manually:
Stop run is coming again.
Comment:
ICLs are breaking above the 200 SMA easily. Its day 8 and we are only 15$ above the lows.
Comment:
We are just crawling on the 10 SMA.
Comment:
We just printed a failed daily cycle today by breaking to new lows.
Our time for long is coming soon.
Our time for long is coming soon.
Comment:
We’re on day 4 of the finsl panic selling stage. I hope noone bought today. No signs of reversal yet...
Comment:
Day 5 of panic selling.
I think the bottom is not in...