The dollar on the truck now. I think we are just waiting for the stocks to bottom and gold will break down. I was waiting for the FED minutes today but I think as yesterday FED's Lockhart and Willimas both said June is possibe for a rate hike the minutes will show the same.
Yesterday was not a false breakdown it just tagged again the blue trandline. But there is also an important red channel inside the blue descending channel. Check out how price is attacking the lower red trendline while it couldn't break up the the red upper trendline and the green triangle.
I think smartmoney was saving the price every time when it was tagging the lower trendline but they were heavily protecting the red zone between 1287 and 1294
We might bounce one more time up to 1280-1285 but that's it. We will break down.
Yesterday was not a false breakdown it just tagged again the blue trandline. But there is also an important red channel inside the blue descending channel. Check out how price is attacking the lower red trendline while it couldn't break up the the red upper trendline and the green triangle.
I think smartmoney was saving the price every time when it was tagging the lower trendline but they were heavily protecting the red zone between 1287 and 1294
We might bounce one more time up to 1280-1285 but that's it. We will break down.
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If you have some time pls set the lower trendline and see how price is working.If we have a marubozu candlestick below the trendline we broke down. If we have a hammer we have one more round to the upside.
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A close below 1270 in this hourly candle would be perfect.Note
We have 23 minutes more for them to pull up the price again.If no help is coming we will break down...
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We are not bouncing this time.We might be ready... I would like to see a crawling on the trendline and a breakdown...
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Welcome to Whipsaw City.Note
It's a clear trendline attack. And volume came in the sell off in the last hourly candle...Note
We broke down.Note
I don't think it's a false breakdown. If we are back to the trendline I would try to short it. I think we are just waiting for the American stock market open . We need the dollar to rally for the gold decline.
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GO SHORT NOW !Note
As soon as the dollar starts to rally - maybe at the FED minutes - gold will finish this whipsaw game.So all who wants to open short positions it's time now.
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Rate hike in June.I really want to see gold falling now...
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Rate hike in June....I really want to see gold falling now !
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All of you who shorted gold today can tellthat you sold gold to Soros.....
:D
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Bulls are toasted....Note
I will post a chart today.This is not a one day decline.
I think the FED minutes had started gold's intermediate decline.
If I'm right we are going to fall for 3-4 weeks from now.
And this is going to be a hell of a decline.
EVERYBODY IS BULLISH, EVEN SOROS....
It's time to take some money from the banks!
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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.