Based on Monthly Analyses Gold has tested 1254 monthly keylevel and failed to break it twice.
On the other hand it has broken upside monthly keylevels giving the phase end at 1320.
We have small accumulation targets 1293 - 1296 - 1306 as well.
Now Gold is sitting on first monthly keylevel 1283 and cannot break down.
For now I have bullish view and I think this Friday given the Jackson Hole thing going on ( Yellen talking ) this can help accelerate Gold to reach it's targets.
And could be the first day in Long time when Gold closes above 1300.
Cry Me a River now.
Good Luck.
P.S only thing that can ruin this setup is the fact that Banksters and Big players having Billions are closely watching TradingView and betting against our charts. :(
They have nothing better to do and that sucks!
On the other hand it has broken upside monthly keylevels giving the phase end at 1320.
We have small accumulation targets 1293 - 1296 - 1306 as well.
Now Gold is sitting on first monthly keylevel 1283 and cannot break down.
For now I have bullish view and I think this Friday given the Jackson Hole thing going on ( Yellen talking ) this can help accelerate Gold to reach it's targets.
And could be the first day in Long time when Gold closes above 1300.
Cry Me a River now.
Good Luck.
P.S only thing that can ruin this setup is the fact that Banksters and Big players having Billions are closely watching TradingView and betting against our charts. :(
They have nothing better to do and that sucks!
Comment:
EDIT: We have small accumulation targets 1293 - 1296 - 1306 as well.
1306 is not in this category.
1306 is not in this category.
Comment:
6$ Trade.
We should reach 1291.
We should reach 1291.
Comment:
6$ trade Done.
1293 Done
1296 - pending
1302 - 1306 pending!
Gold did a fantastic Job Today all in one shoot!
It Reached 1293 broke it opened gate more up!
Then it felt Down and broke 1280.
It hit SL's for those having Longs around 1280
It trigger Pending short orders for those having them below 1280
And in the other second it took SL's for those too!
1280 is broken and target's downside are now Given, but it does not mean It has to go down straight away!
It is not a false breakout! It is a sign left for near future that Gold will fall down.
So I will be ready to turn to Short side any time soon I guess.
We were monitoring the price closely and I told in Group close long positions only if at least 2 - 15 min candles close below 1280.
For now, we continue our heavy longs.
The market is beautiful, isn't it?
1293 Done
1296 - pending
1302 - 1306 pending!
Gold did a fantastic Job Today all in one shoot!
It Reached 1293 broke it opened gate more up!
Then it felt Down and broke 1280.
It hit SL's for those having Longs around 1280
It trigger Pending short orders for those having them below 1280
And in the other second it took SL's for those too!
1280 is broken and target's downside are now Given, but it does not mean It has to go down straight away!
It is not a false breakout! It is a sign left for near future that Gold will fall down.
So I will be ready to turn to Short side any time soon I guess.
We were monitoring the price closely and I told in Group close long positions only if at least 2 - 15 min candles close below 1280.
For now, we continue our heavy longs.
The market is beautiful, isn't it?
Comment:
prnt.sc/gcy99d
Exactly what happened!
It is not a false breakout.
Gold has a target 1270 - 1268 now!
That will be reached!
Those following me for a long time knowing my trading style do know that my entries can suck, but targets are always met.
It is not the problem with Gold that after breaking some level it does not go to target straight away! It is a " wishful " thinking and you want it.
After the break of 1280 targets have been given, but before that market can go up.
That being said anytime soon we will be watching for Short trade, but for now keeping the longs open.
Exactly what happened!
It is not a false breakout.
Gold has a target 1270 - 1268 now!
That will be reached!
Those following me for a long time knowing my trading style do know that my entries can suck, but targets are always met.
It is not the problem with Gold that after breaking some level it does not go to target straight away! It is a " wishful " thinking and you want it.
After the break of 1280 targets have been given, but before that market can go up.
That being said anytime soon we will be watching for Short trade, but for now keeping the longs open.
Comment:
I AM SORRY FOR ABOVE UPDATE about downside targets.
There are NONE.
I had marked 1276.6 some time back as a pivot for the downside.
It is way stronger than 1283 and 1280.
Since the LOW is 1275.8 1276.6 is not broken, so there is no downside gate opened.
If Gold reaches 1275.6 then we can say that Gold has targets downside.
Sorry for false information. Many things to follow up and sometimes hard to remember it all!
Cheers.
There are NONE.
I had marked 1276.6 some time back as a pivot for the downside.
It is way stronger than 1283 and 1280.
Since the LOW is 1275.8 1276.6 is not broken, so there is no downside gate opened.
If Gold reaches 1275.6 then we can say that Gold has targets downside.
Sorry for false information. Many things to follow up and sometimes hard to remember it all!
Cheers.
Comment:
Comment:
Although I am already out at 1305 seems we could hit 3rd target as well marked in this chart last week.
But sell is very possible and all the way back to 1270.
I am not sure still, have some doubts, like 50/50 so I am analysing like a hawk.
Waiting for daily close numbers to see what Intraday suggests.
And no I have no positions open if there will be then sell, but not yet.
But sell is very possible and all the way back to 1270.
I am not sure still, have some doubts, like 50/50 so I am analysing like a hawk.
Waiting for daily close numbers to see what Intraday suggests.
And no I have no positions open if there will be then sell, but not yet.
Comment:
3rd target achieved. 1320 a nice resistance ( monthly key level )
We will consider to close them if Break Below 1280 occurs.
We are not entering any new longs here since we have enough of them.
FYI