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jangseohee
Jan 3, 2016 3:12 PM

GC1!, round bottom or break down 

Gold/U.S. DollarFXCM

Description

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


that long wick makes me feel uncomfortable about going bull




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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Comments
IvanLabrie
Keep it going...it'll hit sub 1000 for sure.
G13Man

and a few closer lines
G13Man
@G13Man finds another line
,

intersections of resistance
jhakas
long term gold bears need to wait a little..

adammska
Clearly, the market is at inflection point here
jangseohee
@GoldMan06 https://www.tradingview.com/x/nQ0yuVyE/
moorekapital
That wick triggered my long. I have a swing stoploss on, at 1057
ElPatron.Y
Masterpiece! More down expected for commodities before real uptrend starts. We just nailed this short.
jangseohee
Toma
Or maybe we have a long time resistance breakout ?
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