Short

Why I See The Huge Sell-Off Intensifying:Please read

Updated

https://www.tradingview.com/x/VuM5wRyf/

I have been so focussed on the VIX index. I wish I had checked its weekly stochastic levels in advance like I regularly do with Precious metals and Forex sometimes when i trade.

The USDX is pushing off this massive W/bottom on the 2 hour time frame. Imagine the double whammy effect this will have with the VIX and USDX rallying concurrently. Just my thoughts.

Trade active

Trade: Short XAU USD
At current market price, Sell
Stop Loss: 2500.30

Comment

Getting back to the bullish W/bottom on the USDX. It exists on the higher timeframes & price would need to reach 101.83 thereabouts for the breakout to really take effect. But it's why I see the Short trade next week for Gold and Silver. The price is getting run down from here. I said last weekend on a thread hear that the gold price might get down to 2434 this week. That might not happen today, but you never know. But next week, certainly it might.

Comment

here.

Trade active

RE: Gold Short from Market Price 2493
Stay short now. There is a lot of price weakness under 2482
Bring your Stop Loss down to break even. Then you have a free trade:)

Comment

The VIX INDEX I think is setting up for another run. It needs to break this trend line up around the orange line.

Comment

Vix Index was retracing to its 61.8 level where it got support. Then formed a bullish W/bottom. Gold temporary rally is my feeling.

Trade active

Short XAGUSD @ Current Price > than 27.50
SL: 28.13
* I encourage you to risk only 0.25% to 0.5% of your TOTAL CAPITAL.

Trade active

* We ride off the back of the VIX Index which is right now forming a bullish W/Bottom on the 5m & 10m timeframe. A bullish Vix will be good for a Short in Silver.
* Apologies if you got stopped out of the Gold Short earlier. Breakeven if you moved your stop up as I suggested.
You could also get back in with a similar trade
SHORT GOLD @ 2493.50 to 2494 level.
SL: 2501.25.

Trade active

It's been a tough and not so easy trading week. Thank you for joining me once again. I've only been writing posts & ideas for a month or so but I already have some loyal followers.
Next week will be another difficult week, I think we can count on that. One thing I am mindful of next week is to not put out trade-suggestions too early. Today I don't think I even put out a Trade suggestion to go Long after the economic data, but the inference was that I was encouraging people to get Long merely by displaying Fib levels. Next week I wait until the 'dust-settles' so to speak. Often there are too many false-breaks up or down at the start of the NY session or following economic data. The market makers set the trap and then reverse the market. That is exactly while I will wait next week until I completely digest everything. I always prefer to protect your capital, not only mine. Speaking of which, I have not had a good week. I am only near break-even, I made come greedy costly mistakes. One thing I have to constantly pinch myself about and be aware of, is to only increase the betting amount when I am completely confident and certain about the direction of the trade. My weakness is to bet too big when I don't have those perfect trade setups. It's called greed.
I will monitor those short trades in silver and gold until NY ends. Have a safe and relaxing weekend.
Regards
Chris

Trade active

Short Gold & Silver
VIX is getting a bit sleep late afternoon in NY.
But there is this super low time frame setup that Im hoping will pump up vix soon and aid our shorts very soon.

Comment

Once this H&S gets some traction it should lift VIX and also trigger the W/bottom. So im hoping for a big finish.

Comment

A lift of the VIX and Short our trades out a bit. Stohastics and Rsi low timeframes about to cross up.

Comment

A rallying USDX next week will be very impactful on the Gold Price. These Bullish Double Bottoms are higher time frame Daily (right) 120m(left). A break of the $ above 101.85 will trigger a big rally in the dollar. This will be impactful on the Gold price for the most part in a negative Short sort of way. I will be keeping a close eye on the VIX next week as well.

Trade closed manually

The VIX did come home rallying as I thought it would, however, it did not have much impact on our Shorts so late in the session perhaps. Going into next week Short is not a bad spot to be but I have closed the trade manually & you can close out your positions if you wish, I'm sorry to say for a small loss. Take care everyone. Catch you next week. Australia out.
Chris

Comment

ONE LAST THING: There is a HUGE buy opportunity coming soon in BITCOIN BTCUSD. More next week on that. It will be a BUY LONG opportunity. HUGE!

Trade active

BCHUSD: HUGE OPPORTUNITY NOW if you trade BITCOIN.
DAILY HEAD N SHOULDERS..... DAILY CHART.... WHY IT'S SO BIG.
PRICE IS AT THE NECKLINE. I DONT BELIEVE IT HAS RETESTED AS SUCH.
IT'S A SHORT-SELL.

Comment

HERE IS THE CHART.... ITS A DAILY CHART.
I suggest to trade it you draw your neckline similar to mine on the Daily and then to trade it drop to a small timeframe like the 5m.

Trade active

Guys, potentially from how I was taught to calculate H&S TP levels.... TP is potentially massive down at 28.

Comment

The Bitcoin Trade I mentioned for next week....It's actually setting up now.... ITS A BUY_LONG....Basically it's severely oversold... TAke a look anyhow BTCUSD

Trade active

UPDATE BITCOIN:
Guys this is severely oversold. This is the trade you could possible ride all the way to the WEEKLY Cup & Handle. This is gonna fly guys.

Trade active

* Just for Disclosure because I hate for you to miss out:
I am also long on ETHUSD (severely oversold)
SOLUSD (severely oversold)
BTCUSD (especially severerly oversold on all timeframes)
I am short on BCHUSD Daily Head n Shoulders.

Trade active

BTCUSD
The most recent retrace...the fib levels were rejected...too much buying coming in.

Trade closed manually

ONLY BCHUSD: It got caught up in the sell H&S but turns out its severly oversold as well. I closed out at a small loss. I was up nice in profit before it turned around. Be careful if you shorted it. Get out.

Order cancelled

Closed out longs on Crypto. It gets better next week.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.