DRodriguezFX
Short

Gold coiling up for major breakdown

FX:XAUUSD   Gold / U.S. Dollar
1470 14 6
Gold             is testing a key trendline as it's remained in 'neutral' territory for its longest stretch since 2010. A breakdown targets a much larger decline and a resumption in the multi-year downtrend.
Also very much worth noting that retail FX sentiment remains heavily one-sided, acts as contrarian call for further declines: https://twitter.com/DRodriguezFX/status/621330694699130880
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jonmarran DRodriguezFX
Thanks for pointing the trade out DRodriguez its the first time this week i have been in profit! just hope it keeps going into decline! once again thanks
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Why first time? There were 2 other trades in analyst picks who were profitable this week
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I see 800 is very realistic
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DRodriguezFX PRO LWInvestment
What do you see at 800 that makes you say that?
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Trend_Surfer DRodriguezFX
Do you have a specific target?
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Jakk Daws LWInvestment
I see sub $1000 as a higher probability than most realize as well. The coiling call makes sense technically, but Gold is such a manipulated market nothing acts as it should. Also, markets like this move where it hurts the most and we are so close to $1000 now not to test. At $1000 everyone and their brother will load up and thats the spot manipulators will take advantage and kill ya. (maybe after a bounce). Bottom line.. pain needs to be felt before big run up.
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I agree with a longer term breakdown but patience has been required - I have been selling rallies for the last 2 months, average short around 1200. Price and signal below Ichimoku cloud. Elliot Wave count suggests we could be entering iii of 3 of 5) lower, so it could be a very dynamic and persistent sell off if this is correct
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dbriscoe123 dbriscoe123
Not sure how to add the chart on here but feel free to contact me if you like David, I think you have my contact details (RetiredHFer)
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jonmarran dbriscoe123
do you still see value in selling at the current price? (1135)
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Gold 1100 end of the road for bears?
+1 Reply
rien sjroden
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I bought Gold 100 at 1008.9.
Should I hold
I feel it may chance of test 1133 yesterday close or atleast 1130.
Not bullish but bounce back?
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I bought at 1108.00
Should I sold or hold upto 1030.00
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