Updated

Gold for December '17

In D Chart, Gold is making huge bullish flag. And now we just touch down support zone. (Refer to my previous post)

Gold has to close above Red box zone for the week in order to show bullish formation, and break the upper TL to resume 13xx area.

Strategy 1: Short at red box zone if 4H shows bearish formation target green box zone or even lower.

Strategy 2: Long above red box zone if 4H shows bullish formation or Long at green box zone.

As I mentioned from my previous post, I think most corporations and investors are injecting their money to cryptos. I am inclining to Short Gold. Good Luck!

s3.amazonaws.com/tradingview/snapshots/5/5uAwwmtq.png

Note

Zoomed in for Precision Entry, watch the levels...

s3.amazonaws.com/tradingview/snapshots/k/k1RMVOQ0.png

Note

Consolidation expected after a huge frop. May last up to a week. Lets wait for a break below 1243 or above 1250 to see where it is going.

Trade active

Nice short!

s3.amazonaws.com/tradingview/snapshots/i/iyUV05f2.png

Note

GOLD AT GREEN BOX NOW

Note

I am not surprised if we are going lower, all investors are going to cryptos. BTC is trying to push higher, ETH already jumps from $450 to $600+ in less than 48 hours. No funds flowing to Gold.

Trade active

1240.50 Long, shifted to breakeven now. Whomever on my Telegram channel. Congrats boys..

We can miss 1237, but we won't miss the pullback.. ;)

Note

s3.amazonaws.com/tradingview/snapshots/o/oiR2xFHx.png

Note

I believe the interest hike is already priced in by looking at how DXY climb these few days. I am not surprised if DXY take a dive later on.

s3.amazonaws.com/tradingview/snapshots/c/c785VqEG.png

Note

Trade active

Smells good...

s3.amazonaws.com/tradingview/snapshots/b/b0mygpwm.png

Trade closed: target reached

Long closed at red box, 1261

Note

Lets see daily candle at red zone, break up or bearish hammer?

Note

Merry Christmas...

s3.amazonaws.com/tradingview/snapshots/e/EBjkTBe0.png

Note

4H and 1D candle is still bullish, wait for week close. Wont be trading until next year. All volumes are not showing real direction now.

Note

81 broken, 99 is next..

Note

99 hit.. :p

Note

1321-1324 next...

Note

21 hit. ;)

Can it breach higher to above 30?

Note

Bullish flag...

s3.amazonaws.com/tradingview/snapshots/t/tVoY6ibv.png

Note

DXY may help this move, soon...

Note

s3.amazonaws.com/tradingview/snapshots/2/29wQNsPN.png

Note

Gold broken down the triangle and DXY broken up ascending wedge... Looks like heading to retest the TL and monthly pivot..

s3.amazonaws.com/tradingview/snapshots/3/3Erfr86R.png

Note

s3.amazonaws.com/tradingview/snapshots/m/M1my4GrQ.png

Note

If this week close is above the uptrend TL redline, 1390 is on sight. (as per my main chart)

s3.amazonaws.com/tradingview/snapshots/q/QjNqJE0k.png

Note

Grinding up, ladies and gentlemen... Patience....

Note

s3.amazonaws.com/tradingview/snapshots/f/FsGQWwXg.png

Note

"Textbook" move about bull flag...

s3.amazonaws.com/tradingview/snapshots/t/TwugS5Hd.png

Note

Holy molly...

s3.amazonaws.com/tradingview/snapshots/r/revivuNt.png

Note

Wait for FOMC...

s3.amazonaws.com/tradingview/snapshots/f/FApyjs76.png

Note

50% holding...

Note

Not primed to launch yet. Might go lower Pre-FOMC. Good luck..

Note

50% held. We are on track to 1391 by mid Feb I suspect.

Note

Breakdown the Channel or Rebound?

s3.amazonaws.com/tradingview/snapshots/x/x0G4qu9L.png

Note

s3.amazonaws.com/tradingview/snapshots/g/GQ4VyxhN.png

Two possible moves from here. Bullish flag is forming.If it never breaks up the upper TL, risk can drop to ~1312 area

Note

Gold breaching upper TL green line, close above it means 91 still the final target.

Note

Hmmm..

s3.amazonaws.com/tradingview/snapshots/l/L7ul5BJv.png

Note

4H didnt break up upper green TL. HnS is in the making. I wont be surprised if we will go to 1290s

s3.amazonaws.com/tradingview/snapshots/y/YUxEsqAk.png

Note

Closing my short here. Pullback is making PA back to channel and now retesting channel. Plus today is Friday. Let the D and W candle close to decided where it will go next.

Note

s3.amazonaws.com/tradingview/snapshots/8/8d85bpbB.png

Note

Day and Week has closed, potentially it still can consolidate in the channel...

s3.amazonaws.com/tradingview/snapshots/l/LXoHi0C2.png

Note

Textbook move so far... Watch all the TLs

s3.amazonaws.com/tradingview/snapshots/9/9KiLDjI6.png

Note

Orange or Blue?

s3.amazonaws.com/tradingview/snapshots/m/Mf4n1JxK.png

Note

Breakout Upper Green TL, retest and doesnt close below and shoot up, nasty wick.

s3.amazonaws.com/tradingview/snapshots/d/DU7d8LsP.png

Note

It feels like forever, but Daily Bullish flag is Done.. 4 waves are completed, and Daily candle about to close breaking the TL. (watch the orange circle). 1390 still on sight. No changes..

s3.amazonaws.com/tradingview/snapshots/n/NJ1LiJCU.png

Note

Bearish? I still don't think so. I feel this is a consolidation phase.

s3.amazonaws.com/tradingview/snapshots/5/5dfQ8Ci2.png

Note

Finally... it has moved more than $25 so far... since 2 days ago.. :)

Note

Bullish Flag still...

s3.amazonaws.com/tradingview/snapshots/p/PS48IcqQ.png

Note

Keep buying dips, 1390 area is a must to hit. 4H and 1D, not bearish pattern yet.

Note

Watch my purple and green arrow final destination...

s3.amazonaws.com/tradingview/snapshots/g/gOuLksFH.png

Note

Looking good. Hopefully 4H candle close above 53.

s3.amazonaws.com/tradingview/snapshots/b/bCksgdMO.png

Note

Still didn't break the TL upwards, but still supported on weekly pivot. The longer it consolidates, the bigger the move, let's see.

s3.amazonaws.com/tradingview/snapshots/h/Hj4q1Nsy.png

Note

Let's see

Note

s3.amazonaws.com/tradingview/snapshots/6/6YrkaCRV.png

Note

Soon, we will see some big movement. DXY at a critical point. Close above the Red TL means DXY will rise up after being supported at 61.8. Unable to close it this week means, DXY will plunge and continue the downtrend. Then we will see a clear direction for gold as well.

IMO, the waiting is almost over.

s3.amazonaws.com/tradingview/snapshots/v/vexoZ0Qu.png

Note

Coincidently, Gold at daily Support TL as well.

Note

s3.amazonaws.com/tradingview/snapshots/k/kzn50MLj.png

RoboCash

Disclaimer

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.

RoboCash