I will try a long trade in gold based on the TSI, RSI divergencies and the possible range - what's forming right now. I might be holding these longs only for a few hours.
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We broke below 1180$ for a few minutes right after the GDP report, but the priced bounced immediately
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I think we are going to have a short squeeze in the next hours.
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Sharky8899.
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Arpi,i know er re looking for a place to enter, but er are close to a dcl in gold, but if you look at the dxy, its made a dcl and potensial icl setup, Even if the next icl must be left translated that gives mybe 1week og strenght for the dollar? Are you stil looking for a l ong inn the 80 range or you want gold to go loser and get some sort of a signal from the dollar that it made its Next dcl top before entering a trade?
Sharky8899.
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@Sharky8899., Man my phone is wierd auto correcting text...
MrRick
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A fun fact: If you look at the daily gold chart for the last 6 months. Compare it to the hourly DXY chart for the last week, they have the same pattern on a different scale. Follow the dxy pattern and it my tell you where gold is going. X marks the spot. Now find the treasure.
MrRick
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@MrRick, Good work! Did you know the Jnug is trading inverse the DXY and jdst mimics the DXY. A little tip on how to trade the miners by watching the DXY
MrRick
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@MrRick, Delete that last line. Rule number 1 in trading: It works till it don't.
Rayge
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seems not good idea
usef
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it have a double top break, target is 1175 but we have to see continuation (all of this can still false break) if the daily candle close under 1195 its not ok
and in the same time dollar still weak & stocks( s&p and dow) reach there first targets
what do u think!!
money168
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I think going shote.
Labworx
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it can only be a divergence once the move has ended.... this can still go anywhere.
We need to see an upslope in order to confirm the divergence.
chartwatchers
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@Labworx, Divergence was forming when I posted. When the move ended the divergence did not disappear , and it was obvious it cannot be erased. That's why I posted.