jangseohee

GC1!, round bottom or break down

FX:XAUUSD   Gold / U.S. Dollar
1317 89 39
it has been a year of overall bears when bulls were trying to pick the bottom
for the past 2 months, gold             price seems to be making a rounding bottom (unless the red support is not broken)
else we go lower

let me recall my cycle analysis
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that long wick makes me feel uncomfortable about going bull
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the doji is tricky
daily and monthly have bullish bias, but weekly is more towards selling
i would have higher confidence of being bullish had the doji has longer lower wick

i am keeping my short since
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Keep it going...it'll hit sub 1000 for sure.
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Masterpiece! More down expected for commodities before real uptrend starts. We just nailed this short.
Short Gold for double bottom.
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The dollar broke up also from the pennant.
The dollar does not sleep
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jangseohee jangseohee
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moorekapital jangseohee
That wick triggered my long. I have a swing stoploss on, at 1057
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AMBRISH jangseohee
I liked it .
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Clearly, the market is at inflection point here
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IvanLabrie PRO jangseohee
Did you see the daily close? The weekly data doesn't correctly show it...I know you'll like it. ;)
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IvanLabrie PRO IvanLabrie
(hint: Comex closed as high spin doji)
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jangseohee IvanLabrie
yes Ivan, there is a huge discrepancy between Comex vs XAUUSD
thank u
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IvanLabrie PRO jangseohee
This looks absolutely beautiful mate :D
I'm short already, shorted pretty much near the top (2nd entry, first was 1146.40).
Same stop for both, above monthly resistance, lines up with your horizontal level.
You took it?
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jangseohee IvanLabrie
i shorted 1160, gotten stop out at 1171, but i will check 30min to reenter on Monday once a small wick happens
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High spin potentially just putting on the breaks, could re-accumulate. I'm looking for a possible retrace to 1163 level to add positions but am still holding long positions at Friday's close. Watching Yuan reserve info closely this weekend. Just not seeing a fundamental or technical reason for a Gold price reversal yet. I am seeing another equity breakdown within 3 or 4 weeks and do not think 1180 will show much resistance in Gold this time around. Good trading and great analysis as always guys, thanks!!
Long Gold
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jangseohee jangseohee
comex closed at 1pm eastern i think and the gold price of 1173 was at 5pm eastern
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IvanLabrie PRO jangseohee
Yeah, but would weigh that close as important...also the sentiment reached a really astronomical bullish level. Smells like a massive top.
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jangseohee IvanLabrie
my emotional indicator telling me, NO BUY, ready to short
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IvanLabrie PRO jangseohee
Yep, exactly...it reached critical mass. I'm happy I used 3 daily ATR stop first, now averaged entry with same stop.
I'll add violently if it confirms the reversal...target is way below 1000 long term.
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eskgroup IvanLabrie
1st stop @ 1021s? 2nd stop @ 970s, 3rd stop 870s, 4th stop 1998++? lol....
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Until it bottoms, hard to say.
I try to focus on the present swing...not going too far into the future.
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Thank you guys! I think this one will retrace 50% to 1114 and let's see what's gonna happen there. There are some mistakes I have to hint that DXY and indexes isn't correlated instantly and Gold too.
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"There are some mistakes I have to hint that DXY and indexes isn't correlated instantly and Gold too."; Victor can you explain why you mean by that?
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Victor.Y.F PRO smitheric1970
I called it time-lagging correlations, in a dictionary it's called “time-difference correlation analysis ”. Just like goverment bunds can show you a CPI trend 24 months before. A capital flow slowly too. I think indexes are doing monthly 4th. wave there will be a 5th. wave new high this year. Gold as well.
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You believe equity indexes will create new highs this year?
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Victor.Y.F PRO smitheric1970
For me, it's quite sure. There will be a new high or almost same high as last year depends on which country's market. But not those EEM markets.
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long term gold bears need to wait a little..

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jangseohee jangseohee
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jangseohee jangseohee
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jangseohee jangseohee
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1hr bearish divergence no more
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4hr is still potential
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jangseohee jangseohee
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jangseohee jangseohee
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monthly uptrend so far


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weekly bull

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TF. jangseohee
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if we break 1313 weakly 200
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TF. TF.
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left side of the channel is a no sense
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What, you still don't believe in a new bull market? Above 1300, and it can really run.

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Silver is outperforming gold so far this year. This tends to happen when metals are in bull market.
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Silver is outperforming gold so far this year. This tends to happen when metals are in bull market.
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jangseohee JohnKeverich
or inflation stage
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jangseohee jangseohee
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jangseohee jangseohee
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and a few closer lines
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G13Man G13Man
@G13Man finds another line
,
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intersections of resistance
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