Six time Trend Breach
Updated
Gold has broken upper trend line (((SixTIMES))) since Feb. depicted on my Gold chart with purple ellipses
and red arrow indicators. Looking for a solid pull back, Golds in over bought territory and volume & momentum are starting to falter. Smart money will be taking profits at this point a breach of upper bollinger band. Look for some volatile downward moves oscillating up and down in a strong downward trend if it holds true of my analysis of this chart since Feb. Megalo :-) As always good Trading to ya !!!
and red arrow indicators. Looking for a solid pull back, Golds in over bought territory and volume & momentum are starting to falter. Smart money will be taking profits at this point a breach of upper bollinger band. Look for some volatile downward moves oscillating up and down in a strong downward trend if it holds true of my analysis of this chart since Feb. Megalo :-) As always good Trading to ya !!!
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Miners having a negative divergence with the fantastical high Gold price at this time & juncture !!!Note
I say wear your PPE here shorten stops and wait for the confirmation signal, where possible an practical add to your shorts like i'm doing. Risk Reward is Right on for the present scenario ???Note
Miners still having somewhat of a negative divergence her at 10:00 am on 6/25> World Central Banking Cabal is manipulating the world currencies in a major way
Trying to influence the Gold & Oil market pricing ?? ie... Gold is barely $2 down and the miners are down perceptively the same goes for silver but silver being up!!!
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I see and feel some bearish overtones if gold breach"s $1730 7 day ma if you will then next stop down would be $1685 arena should form new support at this level. This is the scenario i have been working up too far quite some time. Megalo :-) >Note
On a daily time frame the analysis calls for a pullback 1753 down as far 1746 arena near term, there is also severe gaps too fill in some of the major miners as well. Given you buy paper miners or the most popular etf's . If one is trading gold in futures be ready for severe volatile whipsaw portfolio erupting (stay away from the futures danger options are much worse!!!) I believe the powers to be are setting up a major bull trap and creating the illusions or thirsty mirages and given an allusion for all traders of a strong bull leg up ,too all new high's with the current geopolitical tensions Chinese Communist Party (CCP Virus) and our on racial apologetic overdone Nation. It seems to be the perfect storm, in favor of bulls. I'm still in the camp of Leonardo it must retrace with a 76% retracement before building any relevant new highs taking place. Too sum things up and to clarify keep your shorts and add to them where its practical and logical to do so, that's my advice and that's what i'm doing here also. As always Good and Fruitful Trading !!ie... fra978 (KISS) Keep It Smart & Simple :-) Megalo>
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Looks like good positioning one just has too be patient here the risk reward is acceptable. On the counter perfect charts perfect geopolitical realm all say higher which most traders are long i do believe the herd mentality is long at the present ??Note
I do believe that the civil racial disruptions domestically and the CCP virus (Chinese Communist Party Virus) and the geopolitical tensions are twice baked in when it comes to Golds price action ? I would venture to say that the price of oil has been dinged more then any other commodities with the over propagandized CCP virus and not so much for Gold ! The over propagandized news of social racial inequality does not have any effect on Gold trading in general !!
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