A great opportunity to go Long Gold

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Gold Long
Comment: Friends during the last a few hours we have seen a change in the market sentiment. BoE report signals a possible rate hike in August and since then all USD crosses are going to fade the hawkish FED tone last Wednesday.

I can see Shooting stars and inverted hammers in all charts. Let’s start with EURUSUD

Shooting star on DXY and divergence

Shooting star on equally weighted average and divergence

Clear rejection of on Nikkei futures

Oversold Gold

Equally EURO weighted. See the false breakout of the lows for last a few sessions.

US yields 2 years, 5 years, 10 years and 30 years all pulled back. See 10 years here

All bonds also bounced…

Trade active


Thanks for your analysing, I always follow your setup, keep up the good work.
@Mijan, It is my pleasure, Sure, Thanks
any updates where gold may go now?
khansalarehsan ChartsMechanic
@ChartsMechanic, I am waiting for further confirmation about YEN and NIKKEI. For now nothing mate :)
ChartsMechanic khansalarehsan
@khansalarehsan, crazy times for gold--i am stuck in long and too late to hedge :D
Oinvest khansalarehsan
@khansalarehsan, still nothing? currently holding this trade . I guess youve been stopped out?
@Oinvest, 1260.69 was the stop mate. See the numbers on the right axis.
Nice chart , I am with you on this one. Quick question. How do you get the "equally weighted average" on Tradingview ?

Thank's and keep up the good work.
+4 Reply
Only thing that concerns me is the death cross on the daily chart..
In fact , I am out of this trade. A bit to risky. Nice short forming on AUD/CAD. Over to that. Good luck and hope it works out.
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