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Last two most recent weeks results
280+ Pips +6R x2 = 12%
180+ Pips +4R x2 = 8%
Gold has broken out of some short term consolidation. Past experience shows us that when this happens large moves in the price follows. Movement in the miners confirm this was due. Expect the price to reach $1750/oz by mid summer.
So i politely went round to look at her shower, even though i know nothing about plumbing i lied ( because shes hot ) I knocked on the door and she greets me whilst leading me to the bathroom, we get to the shower and she takes her clothes off, gets in the shower ( which is working perfectly fine ) And said " Look its broke " very confused i asked what how is it...
The GDX ETF is about to break out. Initial target is the high 40 as this is the next resistance level. This also coincides with the 50% fibonacci retracement level. I would expect some consolidation following this target being met, eventually heading higher.
Gold to dip & test support of 1563.
From there it could either bounce and continue it's climb or it could gain momentum and continue to fall to levels such as 1556 and 1547.
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I love discussing strategy! :DTVC:GOLD
It just keeps coming back for more ;p
We are looking for bearish movement this coming week and for the 3rd touch of our trend line with more bearish moves following the touch.
Now we have highlighted where we might get this 3 rd touch and this comes by the way of strong support which if price does touch our trend line in this zone then it will smash through this...
Call me crazy if you like... i can assure you i have been called loads worse ;p
Take a look at my chart and you will see why i am predicting this drop, i had a sell order set around 1600 because previously this area had been used as a solid support and resistance level in 2011 and 2012 and as the saying goes HISTORY REPEATS ITSELF! The same is true in trading...
Time ran out, did not get chance to show analysis on oil, will send it to the telegram below.
Loads of great set ups in the making here, hopefully the volume can pick up and we can get some clean entries.
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