Day 8 and we are still at no man's land.
If this is a new interemdiate cycle it's starting very weak.
That's the main reason that I think we are still in the last IC which started on the 2nd of May.
We also lost the chance to have a medium long intermediate cycle ending on the 19th November.
It seems we are left translating in this last daily cycle and going to tag the 38,2% FIBO retracement at 1446$ and maybe we drop into the consolidation box and tag 1400$ at the 200 SMA.
The 50MA and 200 MA should cross over in the final part of the ICL and RSI needs to print the zigzag in the oversold territory.
Volume was decreasing on the bounce and the last 2 days' drop had higher volume.
Don't forget gold loves to do the big moves in 1-3 days.
So I'm expecting 20$ down days and I will close immediately the position if we get it.
So don't sit into the position for weeks: it's an extremely risky trade as we are very late in this IC.
By now everybody is full loaded the trucks for the next 200$ move so it's time to take some money from them as this train just doesn't want to start.
Notice how we are turning down from the 100 SMA.
Small time frame frame entry at this point above 1468:
If this is a new interemdiate cycle it's starting very weak.
That's the main reason that I think we are still in the last IC which started on the 2nd of May.
We also lost the chance to have a medium long intermediate cycle ending on the 19th November.
It seems we are left translating in this last daily cycle and going to tag the 38,2% FIBO retracement at 1446$ and maybe we drop into the consolidation box and tag 1400$ at the 200 SMA.
The 50MA and 200 MA should cross over in the final part of the ICL and RSI needs to print the zigzag in the oversold territory.
Volume was decreasing on the bounce and the last 2 days' drop had higher volume.
Don't forget gold loves to do the big moves in 1-3 days.
So I'm expecting 20$ down days and I will close immediately the position if we get it.
So don't sit into the position for weeks: it's an extremely risky trade as we are very late in this IC.
By now everybody is full loaded the trucks for the next 200$ move so it's time to take some money from them as this train just doesn't want to start.
Notice how we are turning down from the 100 SMA.
Small time frame frame entry at this point above 1468:
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ALso set your stops because we have no business above 1480.
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I will stop manually if this goes against us.
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50 And 100 MA crossed over finally.
If we don’t get the panic selling this week I will close the short position.
The next drop will be a buy.
The only question how severe it’s going to be...
I still see chance a drop into the consolidation box.
If we don’t get the panic selling this week I will close the short position.
The next drop will be a buy.
The only question how severe it’s going to be...
I still see chance a drop into the consolidation box.
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We are turning down from the 50MA. If we can’t break it it will be a huge drawdown from the crossing 50 and 100 MA
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Turning down as expected.
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“This is the last xmas ahead of elections. The data what we get will be very good. Even if they have to lie. They can modify it later in january and if market falls they will blame it on the elections. And gold will be attacked hard tomorrow.” - that’s what I sent to a follower yesterday.
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We are turning down hard from the 50 and 100 SMA crossover.
I told you : it’s not long yet.
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Still not over yet.
Too many bulls.
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XAUEUR broke down.
XAUUSD will follow soon.
XAUUSD will follow soon.
