XAUUSD: Monthly uptrend started, key levels to watch

FX:XAUUSD   Gold / US-Dollar
Monthly gold -0.79% paints a very interesting picture here. The daily and weekly show next week is a decisive week, as there is a chance of breaking a key resistance level that might further validate this uptrend thesis, as gold -0.79% breaks free of its shackles containing it since the top in July 2016. Positioning is very bullish , as no one is long, and there no inflows into gold -0.79% miners yet. As soon as money starts pouring in, it will help accelerate up.

Hopefully the ride up is not too bumpy, but if it is, we can always profit from the short term volatility by playing both swing and long term positions simultaneously in our gold -0.79% miner shares, and CFD/Futures positions. I will only play the long side until we hit 1554-1916.35 and monthly time runs out, but, will be monitoring for opportunities to take add on trades, and bank said trades to reload on subsequent dips, which are likely to manifest themselves if more traders join the fray.

Best of luck,

Kommentar: $XAUUSD confirmed the monthly advance to the targets shown on chart
$XAUUSD - Monthly view:
We should march higher from here.
Trade ist aktiv:

I'm long from here once more.

New monthly low, in a monthly uptrend = buy with a wide stop loss (3 daily ATR distance+-)
Kommentar: #XAUUSD's daily downtrend expired yesterday, we should return to the top of the range here within a week or two
Thanks for your analysis.
I have one question why you didnot invest more on silver. As to the xauxag ratio chart, the ratio has reached history high area, and it seems xag will pump even faster.
And technically the xagusd chart seems better.
@nimbus, I'm in both...I just didn't publish silver.
nimbus IvanLabrie
@IvanLabrie, thanks very much.
bulls will return in February for the dollar
+1 Antworten
it will drop, because dollar bullish in 2018
+2 Antworten
@popshvt, what's the rationale for that?
popshvt IvanLabrie
@IvanLabrie, no market will go strait down without pullback, 2018 actually i see some things will good for dollar, the shrinking balance sheet still on shedule, rate hike and tax cut(though long term bad for dollar but the anticipating of these will boost dollar) so my guestimate will be dollar form a right shoulder, also, from wave theory, the down wave should already ended last this Friday, I did expect dollar bouce soon, but lower low still possible, but we are almost at the bottom
@popshvt, I agree
COT report indicates maximum in shorts for both gold and silver. Hence, PM reverse to south.
fhsk2001 fhsk2001
@fhsk2001, I mean commercial shorts. Please have a look.
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