chartwatchers
Long

GOLD - Buying the dip

FX:XAUUSD   Gold/U.S. Dollar
8019 133 76
4 months ago
We are at the intermediate trendline. It's an important resistance zone we should be bouncing from here.
I know it looks now we are going to 1260$ but that's just not going to happen though. We are simply too early in the daily cycle.

Most of you will not be able to buy at this point. For those I suggest don't go short at least.
This dip will be bought.
3 months ago
Comment: It's the dollar's drop what pushing gold higher now. Get ready if stocks starts to fall our golden speceship will be launched. First stop 1390 and next is the Moon.
Any comment from short traders?
3 months ago
Comment: The trendline testback scenario is off the table...
snapshot
3 months ago
Comment: If stocks, oil, NatGas , Dollar is starting to fall together - from tomorrow - gold will be 1400 by Friday...
And tonight gold seems to be pricing this scenario....
3 months ago
Comment: Don't get scared. This gold move is a fakeout move. Stocks are correcting. The dollar is falling.
Someone used up the dollar pullback to push down gold's price to get a better entry.
We can pop in any minute.
3 months ago
Comment:
snapshot
3 months ago
Comment: I will add a chart on the weekend. It's tricky: we are in a triangle.
But next week we should have a cycle top ...
Fgrim346
4 months ago
I saw that as well. When will you place the buy?
Reply
KhunHunSein
4 months ago
wanna buy ......
should buy....
Reply
KhunHunSein
4 months ago
thz bro
Reply
junp2010
4 months ago
unless 1330-1335 broken. we should bottom wave 4 tonight. in other case, gold will be in bearish in rest of the year.
+1 Reply
andrej123456 junp2010
3 months ago
why bearish gold ? BoJ and ECB are printing a lot of money
Reply
junp2010 andrej123456
3 months ago
you didn't understand? IF 1330 broken, then gold will be bearish in rest of the year.
Reply
andrej123456 junp2010
3 months ago
I am not telling you that you are not right, but you cant rely just on a technical analysis.
Reply
ArtFly
4 months ago
Which pint you buy 1334? 1315?
Reply
Mannnassser
4 months ago
Should we buy at 1332?
Reply
ArtFly
4 months ago
Which point you would like to buy 1334? or 1315?
Reply
RAMUFF
4 months ago
so, the current level is a strong level of support!?
Reply
mlwinter PRO
4 months ago
Cringe at the people asking where to buy :O
+5 Reply
xiiimik
4 months ago
Yes makes sense to long. But I would like to see 1-2 bars consolidation on 4 hr firstly.
Reply
newatthis PRO
4 months ago
Thoughts on NUGT? I am very tempted.
Reply
AlphaDreams PRO
4 months ago
Will Asia/China take it down further?
Reply
kidbroge
4 months ago
The market is overbought and at record levels, wasn't this the news it needed to unload with follow through for next week? I'm not pushing this guy, I'm not a subscriber, but his two essays speak to this point in both Siiver and Gold. I look forward to his essays when they come out. zeallc.com
Reply
That is why I bought some silver today. I think next couple days DXY will make one more leg down. But I have to admin that SLV chart doesn't look good at all.
snapshot
Reply
What is also bullish, at least short term, is I can see people buying mining stocks today. So this dip really a buy for many people. Otherwise we would tank on Friday like rock.
+1 Reply
Noobsnoot pbartashevich
4 months ago
XAU/USD: at what point do you think gold will be at the bottom before it rebound back to bullish market?
Reply
pbartashevich PRO Noobsnoot
4 months ago
This chart shows that we are bottoming this fall. I agree with Arpi that this intermediate trend line will hold. At least that is what I see in mining stocks bid. People are buying now after fall. I checked a couple of stocks. This DXY chart suggest that USD rebounded from top triangle line and heading to trend line.BUT if Gold will not hold this $1337 price then we will see 1308 - 1315 at least and that would actually say that Gold is weak. If it is strong it will hold. This spot is a good buying opportunity for bulls.
Reply
pbartashevich PRO Noobsnoot
4 months ago
I actually think that if we don't hold now. Most likely we will not hold 1310 either. So must hold or I will sell silver as quick as I bought it ;).
Reply
Noobsnoot pbartashevich
4 months ago
I passed my first resistance line at 1337 by very little but it's holding it right now. At 15 mins candle, it's going sideways. This thing makes me can't sleep and it's 2am when I'm typing it. Gotta see some bull candle before pulling the trigger, i think. What do you suggest?
Reply
pbartashevich PRO Noobsnoot
4 months ago
It will be panic sell off orpanic buy by the end of the day :)
+1 Reply
One more thing volume of today's bar is not that big for the price change which points that we will hold most likely. This price is .5 fib by the way.
+1 Reply
UNLIMITED
4 months ago
I have my doubts that it will be up to the end of September to make a new high ... my plan, gold buy at 1331.5 to 1361/1364 and then falling to at least 1255... do not forget... and a little later to 1212.5
Reply
Looks like panic buying to me :) in mining stocks. I will try to not make same mistake here I made with LABU.
+1 Reply
avento pbartashevich
4 months ago
at what tickers you are whatching panic buyings??
+1 Reply
pbartashevich PRO avento
4 months ago
5 min. I after starting from 15:35 there was a great interest in buying GDX. Only last 2 minutes was down.
Reply
avento pbartashevich
4 months ago
oh commooon, why not 1min or even 1 second timeframe?
look wider
+1 Reply
Scaring people with falling gold and silver and buying mining stock. Interesting..
+1 Reply
avento pbartashevich
4 months ago
Don't misinform people, there are no any panic buyings in gold miners. Basically just a small correction at low volumes.
+1 Reply
pbartashevich PRO avento
4 months ago
I just called a "panic" a rush to buy when you expect lower prices but they running away from you so people rushing to jump into the trade and price moves fast.
Reply
avento pbartashevich
4 months ago
it is a very usual event on such a small timeframe
+1 Reply
caneman
4 months ago
He's right, this is just the Half Daily Cycle Low... and the bears are out in force and act like they just own the super bowl, lol! They think there is going to be a 50% retrace to 1347-1350, and then back down below 1310... not sure how they are going to feel when they get stopped out as this cycle breaks 1375! See you at the top of 1400 bears.
+1 Reply
chartwatchers PRO caneman
4 months ago
I'm happy to see we have sophisticated traders beside robots here.
+2 Reply
Robot1010
4 months ago
So No Sooner I that Posted here that THis Was A Very BAd Idea see comments www.linkedin.com/hp/update/6166527648127283200

YOU GOT HOSED by An ALmost 2% Move To The Down Side. And Just An FYI There is MOre of that Where it CAme from . YOu Are Wrong on this TRade
+1 Reply
chartwatchers PRO Robot1010
4 months ago
robot0,
I let you trade the short term moves with your crystal ball.
NFP is always 50-50.
I'm still in profit with my trades.
+1 Reply
chartwatchers PRO chartwatchers
3 months ago
I hope you covered your gold shorts -not like your oil longs.
This is is still a valid idea.
And we are in profit.
And don't post that you sold at 1366$ and got out at 1330$. Because we both know you lost on this one also.
Reply
shobikhan PRO
4 months ago
Excuse me I am new to trading I've only been trading 15 years, I have no opinion up or down, I don't call myself Bull or Bear, I only believe in the flow that is the only thing that is real all else is an illusion. But I do think in probabilities and I am wondering if this "Bull" market were over how would we know, and who would tell us. What indicator flashes BULL Market is now over get your shorts ready. Maybe we would see a triple top, perhaps we would retest a high and fail, then the trend line would break, and slowly it would creep down. Some would see it as a buying opportunity and load up, only to be disappointed, and we would see a further drop and new buying opportunities more disappointments. Then comes the emotions, confusion, blame, anger, resentment maybe even hope, then it drops further. I am just a new trader going on 15 years, who thinks in probabilities.
+1 Reply
pmcllc PRO shobikhan
4 months ago
Correct it is an illusion. It is all about probabilities and place your trade accordingly and then who knows...
Reply
Delilasdad PRO
4 months ago
As usual there was an over reaction on job numbers pushing dollar higher and gold and silver down. Plus we have the central banks printing cash like its worth nothing, which pushes stocks higher . This isnt good short term news for metals , which by the way the CBs like as printing money keeps the game rolling. From a longer term perspective Gold is a decent buys at this level , with major structure at 1320. If price pops through there then 1300 is on the cards . I hope not as im long term bullish Gold . Remember Governments are buying Gold again as thye loose a little faith in the CBs.
Reply
kmaneesh838.z
4 months ago
I think it will be around 1295$
+1 Reply
ok14
4 months ago
I did not buy, but very desirable. I will take less or reverse motion.
a great market! there are other clear signals to other instruments