We have an important ECB meeting today. Probably this is one of the last chance for Draghi to weaken the Euro before the ECB starts its rate hiking process.
The strengthening dollar will push gold down into its final correction before gold's multi year basing pattern breaks to the upside this summer.
The triangle broke down and we are testing the the lower line of the range. Today it's time to break it down finally.
The target prices measured from the patterns:
Triangle's target price: 1268,5
Range' target price : 1261,3
I still think there is a good chance we will test the important support at 1248-1254.
The 38,2% Fibo retracement of the previous rally is also at 1246, and there is the 200 MA too.
So our levels to watch : 1268,5-1261,3-1254-1248.
If this drop becomes a serious decline printing an intermediate low we might drop to 1230 testing the 100 MA and the blue trendline.
The strengthening dollar will push gold down into its final correction before gold's multi year basing pattern breaks to the upside this summer.
The triangle broke down and we are testing the the lower line of the range. Today it's time to break it down finally.
The target prices measured from the patterns:
Triangle's target price: 1268,5
Range' target price : 1261,3
I still think there is a good chance we will test the important support at 1248-1254.
The 38,2% Fibo retracement of the previous rally is also at 1246, and there is the 200 MA too.
So our levels to watch : 1268,5-1261,3-1254-1248.
If this drop becomes a serious decline printing an intermediate low we might drop to 1230 testing the 100 MA and the blue trendline.
Comment:
Draghi is not wasting his time. Eurusd broke down
Comment:
And DXY is bouncing
Comment:
They will run the stops in gold
Comment:
Comment:
Swing high in place today. I think the intermediate cycle topped yesterday.
The bad news I was waiting for a daily cycle low and we broke higher.
The good news I was waiting for a daily cycle low and we are going to have an intermediate low in the following 4 weeks.
The bad news I was waiting for a daily cycle low and we broke higher.
The good news I was waiting for a daily cycle low and we are going to have an intermediate low in the following 4 weeks.
Comment:
Trendline is broken. This is the trendline break where you can short the breakdown.
Comment:
All the Kim Goldbugs bought today’s rally.
Comment:
We are going to print the famous 20$ daily candle today.
Daily minimum close. Drop till close.
Daily close at 1292-94$.
Daily minimum close. Drop till close.
Daily close at 1292-94$.
Comment:
I'm going to post a new idea regarding the possible targets.
We started the intermediate decline.
We started the intermediate decline.
Comment:
The ECB is stepping in.
Some was waiting for a miracle I was waiting for the E.C.B.
Bravissimo Mr Draghi.
Some was waiting for a miracle I was waiting for the E.C.B.
Bravissimo Mr Draghi.
Trade closed manually:
Chanceis high gold bottomed at 1268.
Out of every gold short.
Out of every gold short.