Jackson Hole has spoken. Whenever the FED now prints more money it will cause deflation which pushes the dollar up. Consequentially other countries will devalue their currency to stay competitive putting further pressure on the dollar as it's the only game in town.
I see gold going to 1700 area. That huge spike up and then slam down was just clearing stops. The pinbar/spinning doji or whatever you want to call it will signal a top with lower lows coming ahead....
I see gold going to 1700 area. That huge spike up and then slam down was just clearing stops. The pinbar/spinning doji or whatever you want to call it will signal a top with lower lows coming ahead....
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Dollar is rotating from oversold to turning the trend, opposite of what we see in gold above.
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Dollar on the 1 hour chart is showing a complete reversal candle along with a TTM Squeeze firing off. This bitch is taking off!
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1 hour gold confirms the trap bears laid for bulls. Note
TTM Squeeze firing off on 15min, 30 min, 1 hour and 4 hour charts - this is going to be a major move...Note
Look at the selling volume - last time it happened (follow the red arrow) - we saw massive amounts of selling.Note
Looking at 15 minute chart we have the after-effects of a Squeeze happening - it retraced 50% and declining volume which means it's going lower...
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VIX blow-off yesterday after short squeeze pushed everything up. And looking at S&P 500 and VIX chart shows gold has been following lock-step. There's a pullback that's needed for the S&P500 to go higher - I anticipate the same for gold. zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2020-08-29_0.jpg?itok=Wo3bwB61
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Compare the gold chart with the one linked to above and they look the same Note
The FED came out and said they won't be raising rates for 42 years - but don't forget in 2008, after the market fell, so did gold....goldrepublic.com/news/why-gold-prices-fell-in-2008
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Piggybacking on the last thread about gold descending like it did in 2008, when the market falls. Latest article on ZH shows volatility is off and about to replicate another fall in the market. Gonna be something else!zerohedge.com/markets/last-time-happened-was-day-dot-com-bubble-burst
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Another market melt-up before the fall - zerohedge.com/markets/panic-buying
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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.