GOLD - Arrival
Updated
I will be a bit late to the party with this long idea but as I see we have too much gold short idea in Tradingview right now.
Will all these retail trades make money on the short side ?
I doubt.
If you short gold you have to be ready for a 100$ upward move in the following few days. The stock market is slowly topping out and liquidity - at least some of it - will move into the precious metal complex.
Silver will be a winner in this but I don't think gold will fall or stay in a range in the next 2 weeks. I see a big chance it's going to test the 2011 summer high.
Plan accordingly.
Will all these retail trades make money on the short side ?
I doubt.
If you short gold you have to be ready for a 100$ upward move in the following few days. The stock market is slowly topping out and liquidity - at least some of it - will move into the precious metal complex.
Silver will be a winner in this but I don't think gold will fall or stay in a range in the next 2 weeks. I see a big chance it's going to test the 2011 summer high.
Plan accordingly.
Comment
Gold is underperforming silver just as I expected. The reason is the XAUXAG ratio:It’s doung its job just any other asset.
Comment
Gold just tagged the bottom of the bull flag rectangle as RSI got oversold and printed a nice rally today. We are going to break out of the rectangle and run to 1900.
Comment
XAUXAG ratio lost the 200SMA . After a successful backtest today it’s heading lower. I still think silver will be stronger than gold at the end of this intermediate rally.
Comment
XAUXAG drops again today.Comment
Gold is trying to break out.Comment
Breakout completed. Target 1900. Comment
Actually I see nothing between 1823 and 1900... so this might be a fast 2-3 days moveComment
We are getting close to the target price.Comment
I think we are going to test the all time highs this afternoon .
Comment
Eveb if we break out I’m going to sell into the panic buying and stop run as this intermediate cycle is close to the top.Comment
Almost there.
Trade closed: target reached
Comment
New all time highs.Comment
We might have topped a bit ahead of 2000$. Comment
When all the goldbugs started to chase the price , everybody who didn’t buy at 1800 boght in the hope of breaking 2000 for an immediate run to 3000$ in the heat of the night smartmoney dumped their gold to these poor people.
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