I've started to post an Energy / Stock / Metal Trade for the followers to trade. I will post the update in the "update status" section of the portfolio post. Starting capital is 10.000 $ in each portfolio. When I close the actual trade I will move the whole amount to the next trade - in this case it will be Metal trade X. Metal trade 2 ended with 824.5$ profit. I'm going to play the move down into the DCL at the Metal trade 3.
Total capital: 17232 $ Position moved from the Metal trade 2.: 50 XAUUSD short (price : 1244 $)
I'm planning to add to the short positions around 1240$.
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Selling 50 XAUUSD at 1240.5$
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I posted this at the old Metal trade...
Comment. Selling 100 XAUUSD at 1239.64$
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Guys this is the point where I think gold should be sold. This is PERFECT.
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Gold is in a flag. But the dollar is leading: we are just waiting for to break out from the wedge. Gold is tagging the trendline 3rd time. It's a strong resistance : we will still have time to exit from shorts in the flag
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Waiting for Draghi... Once we break above 1267$ I stop the position.
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Once the dollar breaks out of the wedge and prints the DCL gold will have one more leg down. Gold chart starting to look like a wedge. It could break down with outbreaking dollar
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And the dollar is breaking out of the wedge
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As we stopped out at 1267 and the raising wedge seems to be working I will sell again the 200 XAUUSD at 1274$.
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Dollar still in a rally mode.
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Now I think we have to watch the markets. If they buy SPX, Nasdaq and the Dow by the end of the day gold will print a reversal candle. ( As money flowing out of the PM sector to stocks)
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Buying 100 XAUUSD at 1256
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This position is too heavily leveraged for this night
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I had 200 XAUUSD short. Now closed 100 XAUUSD short. Total position: 100 XAUUSD short
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toothless
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Nervous? For sure. But freaking out? No...
If you've been following chartwatcher, he's clearly stated multiple times (since lat week) that if gold significantly breaks above 1263-1265, then the plan to short back to sub-1200 is in trouble. If not, the plan is still in place.
So before anyone else starts dismissing chartwatcher and his VOLUNTEER analyses, please read through all of his posts and make your own informed decision. And trust that the banks are always out to manipulate us. Everyone thinking "we will rally to new highs" now right? Porra
Marvin
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Well said mate.
Tampax
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64 reached today, this analisis dosent take many other factors into consideration, posibility of +1300 next week is quite big
qwertry1234
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Agreed!
SupraBoy
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So are you shorting? That short not looking good so far. Trend says 1350 coming by August. Imagine if people followed this thread and did exactly as told, how many people lost their asses today?
toothless
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Yes, I am shorting. And I AM following this thread, with my timing only slightly different. I followed this thread, earlier this week's thread, last week's, and last months.
Nope, I'm down slightly with today's jump, but overall I'm still way up following chartwatcher's analyses.
Tampax
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imo wont go any where near 40s maybe 50s, dolllar will go down to 92s and jpy is free fall good luck
nexuz
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Guys keep cool :) we could pop up to 1255 and its still bearish. If you want to play that trade down to 1180 for example you need a stop that is wider. For example:
Entry 1240
Stop 1260 (20usd loss)
Target 1180 (60usd win)
Ratio would be 3:1
Only trade if you can get a ratio above 3. If you trade below that you got no room for failtrades.
mmmp12
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I have SL at 1256, guess it will be ok for now.
nexuz
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Sounds good mate - around 1255 is also a Trendline so there is resistance in front.
If you've been following chartwatcher, he's clearly stated multiple times (since lat week) that if gold significantly breaks above 1263-1265, then the plan to short back to sub-1200 is in trouble. If not, the plan is still in place.
So before anyone else starts dismissing chartwatcher and his VOLUNTEER analyses, please read through all of his posts and make your own informed decision. And trust that the banks are always out to manipulate us. Everyone thinking "we will rally to new highs" now right? Porra