YaKa

Gold - Pressing against the ceiling

FX:XAUUSD   Gold / U.S. Dollar
503 12 9

Just a map.

Upside pressure against 3 resistances (400w ema , trendline , Yearly Pivot ).

Difficult to position either way.

If Gold             closes above 1240 in weekly, it could be out of the woods.

If Gold             does not manage to break higher after this test, it may be in for a proper dive.. 1000 being the next target and 820 the "max" target.


In my view upside is limited till $1240-45 maximum and then we will see new lower lows for first two quarter of the year 2015. It may take 3rd and 4th Q to recover from bottom and starting of upward wave :)
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YaKa PRO DEEP2DEEP
Possible.

That would mean the yearly pivot remains unbreached and it falls from there...

I have no clue, the tail of a move is always difficult to catch.. Gold has been resilient after breaching support and equities are about to turn which may (just may) bring back gold appetite.
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YaKa PRO DEEP2DEEP
To simplify:
Bearish below 1240
bullish above 1240
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I FORGOT TO MENTION:

WHAT IS RATHER CLEAR IS THE TIMING.

SOMETHING IS IMMINENT - I WOULD SAY 3 WEEKS MAX BEFORE IT MOVES EITHER WAY.
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An ATR buffer for a stop sell or buy with Demark trendlines would cut it I guess, what do you think? How do you feel about silver?
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YaKa PRO IvanLabrie
what are demark trendlines... this guy really try to put his name on everything.. What is it?
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YaKa PRO IvanLabrie
any strategy makes sense.. stop, sell stop, buy stop, watch:)
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YaKa PRO IvanLabrie
SILVER - Same story than gold i guess.

In the last few years it has tended to move earlier than gold.. good to monitor then.
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I have a bullish Silver chart, expected it to catch up with the xauusd/xagusd ratio being off.
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YaKa PRO IvanLabrie
The long siver/ short gold trade has been a Macro theme for a while.. did not work so far... It did very well in 2010/2011... it will come back though... it is a long term trade but watch the orthogonal risk.
+1 Reply
Haven't bought any paper silver, and don't think I will...physical is a bit more tempting.
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limited upside if the descending triangle is bearish continuation, but unlimited downside
Gold, the first triangle will be photocopied?
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