chartwatchers
Long

GOLD - Buying with Draghi

FX:XAUUSD   Gold Spot / U.S. Dollar
11203 182 114
The ECB press conference starting in 15 minutes.
I'm still convinced Draghi will try to weaken the Euro             .
SO at his speech I will try to add to my gold             positions , DXY             shorts and EurUsd             longs.
It could be a good possibility for those who left at the station to buysome gold             or Euro             during the volatile session of Draghi's speech.
Comment: 1343 and 1337 are the 2 levels I'M BUYING
Comment: Spike is coming at the end of the speech.
As usual. Draghi is not changing.
Comment: The dollar seems to breaking the trendline.
Dont wait for gold to tag 1337
Comment: Have to pick the position or you will be left at the station
Comment: ECB is intervening.
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Comment: Trying to save the dollar from the breakdown.
They should have done it at the 200 SMA. They are too late.
EVen if Draghi imports chinese Euro printing machines the dollar will break down.
Comment: I don't see anything wrong in gold right now.
We are on day 5. Very early in the daily cycle.
Powerful first 4 days. And now we are in the flag.
Just a guess but I think we will break out of the flag tonight or Sunday night (GMT)
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Comment: 100 EMA tag.
Time to turn up.
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Comment: So I finished buying gold:
1337$ and 1443$.
I'm in full position again.
We just have to wait for the dollar to break down.
Comment: It's going to be a 100$ move to th upside so all the indicators and chart patterns what the bears are using not going to work. Smartmoney will not let retail to be in a move like this.
Comment: We are under the strong dollar's pressure again
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Comment: Market is completely messed up. Gold, oil, stocks falling together.
And now the dollar also.
We need a cleaner picture. And bears pls don't start to post that you knew this. You are just gambling: Red or black.
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Comment: This is the new world of printing presses.
Everything will be worthless in this inflation except precious metals.
Comment: And here is our descending wedge before breaking to the upside.
It's suffering at every lower low.
Divergencies everywhere.
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So .. now you don't hear the bulls anymore huh , what happened ? You all died ? :)) Next time better listen to what i tell you guys instead of following someone else his analysis. everyone can make a mistak but to go long from 1337 .. and price is 1317.. i don't call this a good trade. But hey don't listen to me ;)
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So .. going down nicely as i preficted and warned you all. how is your long from 1337 ? :))) still alive ? hahaha
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BinaryStylus BjornPfaff
Yes it is somewhat exciting. The "flag" formed at the Brexit time point is still holding though. It's bounced off the bottom of that flag structure three times in the last 21 hour period. It is still closer to the all time top bear trend line than it is to the 2016 bull trend bottom line. I see the gold price still oscillating inside the Brexit flag. What I find exciting is all of these lines are converging on about October the 20th - the Brexit Flag top, the 2016 bull trend lower, the all time top bear trend. I'm not very good at the technicals, but history seems to repeat itself. Like Apri advised to take some profits, maybe yourself with a short position, maybe, could take some now. I seriously can't wait to see what happens with Trump/Clinton/Fed rates! Gold is the best show in town at the moment. I am Long myself back from the 24th when it was 1333 - via a fund. It is squeaky bum time. I wouldn't have it any other way!
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VirtualFax BjornPfaff
Let's keep this website professional by contributing constructively in order to learn together and not turn it into a place for sarcasm and bragging. There is enough of that crap on stocktwits.
+1 Reply
hasansahoglu BjornPfaff
talked too soon...again...
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BjornPfaff hasansahoglu
Nope , buying from 1337 , when price goes to 1321 , is not a good analysis my best friend. trust me, make your calls here and you get burned !
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hasansahoglu BjornPfaff
I have buys from 50 as well. Pretty comfortable with it thanks.
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As we didn't see you posting at 1320$ that you are closing your shorts from 1336$, so you are still short with a 6$ profit (price is 1330$ right now)
It can easily evaporate even today if the dollar breaks down. Then you will have to decide to wait or close your position in zero/loss.
and you will be mentally destroyed in your bear market idea as you will miss the next leg up.

10700 trader is waiting for you here to post when you close your short trade in real time.
If you don't do that you will lose all your credibility and pls find another place where you can freakout people.
+2 Reply
BjornPfaff chartwatchers
Price went to 1313.29 , sorry friend but from 1337 a buy position or even higher , is suicide , you can say whatever you want but your followers will get out if you give such harmful calls.


Next time keep more focust on priceaction and supply and demand , as this seems to be your weak spot. Have a
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snapshot

Very interesting to see XAUGBP with head and shoulder to move up is forming for a possible breakout of the wedge up, looking at the blue candlesticks. It seems that the chart pattern noise in GBP is less than USD for gold reading patterns.
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