I 've found one more pattern which supports the short side : the green triangle.
Triangles and pennants are continuation patterns in 90% of the cases. This one is in the 10% exception as it broke down and no to the upside.
I dont find anything just retail trader sentiment that supports the long idea...
The target counted from the triangle (purple line) is around 1190-95.
Once we break down 1190 we are entering into the panic selling stage.
Triangles and pennants are continuation patterns in 90% of the cases. This one is in the 10% exception as it broke down and no to the upside.
I dont find anything just retail trader sentiment that supports the long idea...
The target counted from the triangle (purple line) is around 1190-95.
Once we break down 1190 we are entering into the panic selling stage.
Note
I would like to see as price is coming down into the red box by Wednesday.Note
We are in the 2nd wave now.Note
Note
Testing back the triangle?Note
US DOLLAR in a range while gold is already in a decline.Gold will shift gears in the decline when USD breaks out from the range.
Note
We broke down the resistance at 1243$.Lower low again.
Note
This is the power of the 413.000 commercial short.Once we run out of buyers gold can't stand up.
Note
Note
So don't have to be in a rush to close the short position.Relax. Let the bulls to freak out.
Note
This hourly candle will be the last big volume candle today.Important how it will close. I would like to see a red candle. In the next hours we can see some kind of bounce. Don't count on 10$ move, but something will be , some hope to the bulls.
I'm 100% sure that the decline will continue tomorrow. On the attached picture you can see the 4 big volume candles... ;)
Note
Starting to look really ugly.Note
Day traders could book some profit here.Note
Bulls who were trying to long from the trendline are giviving up here.It's a daily capitulation.
Note
Crazy. No buyers.Gold for sale.
Note
And here is our last big volume candle today.RED candle...
Note
seekingalpha.com/article/3977520-time-take-profits-gdxLatest news - LOL
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.
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.