After the NFP, Gold rallyed from the AB=CD completion Point.
Now I am waiting for Gold to test 1347.28 and wait for the price action to short from that level.
So guys, Mark this horizontal Line at 1347.28 and let's turn on our radar.
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GETTING CLOSER.
Trade active
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Price Falls to 1341.
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Price fall to 1320, win 270 pips Now is good time to take some profit and find the pull back to short again
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Now is 1311, 360 pips gain. remember to take partial profit!
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FOMC MEETING THIS WEEK Remember to Take some Profit and make Sl to break even for our short position. as we dun know whether 1300 will be strong support or not. dun open new trade before the FOMC meeting. Trade after the news.
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FOMC MEETING PUSH GOLD HIGHER, BUT FACING 0.618 RESISTANCE AGAIN
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Now is 1286, nice short
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Don't forget to take some profit, turn it into real profit!
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I won't buy gold untill it touch the cypher completion. i may keep my short position to that point. (risk free trade now )
Slow Stochastic indicator on the gold monthly chart now for the 3rd month with both signallines above 80 = embedded stochastic = super bullish = we´re going to $1,500 = don't trade intraday but ride this leg up over the next couple of weeks/months = the probability is very high = it will be volatile but the dips will be small & shallow & short-lived = don't take profits too early = you can make around $170 - 200 in the gold market if you just stay long.... !!! This is a rare and extremely bullish constellation...
TheZabisyu
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:D
realmoujik
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I heard something about 1500. I think it's possible, let's go on the board try it!)
MidasTouchConsulting
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yes that´s the target !! I think we are now very close to the bottom..
tradelikeacasino
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thanks for the analysis, Jack. btw, why dont you ever long gold? when the trend is clearly to the upside? :) maybe you do but i really dont remember you share any long ideas.
TheZabisyu
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Be sure to set Good SL for this short, it may save your account!
JamesBrown
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We have these harmonic patterns in play, as well - much shorter timeframe plays than Jack's cypher:
albertwt
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Do you think it will be dropping to the December 2015 level ?