This is the panic what we see now. Short covering and late bulls' panic to get on board before price is skyrocket to the moon.
This will be the top of gold in this intermediate cycle.
Kommentar
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They have run the stops above 1288 (11th March top) If we could have a reversal today that would be fantastic. I dont think that though...
Kommentare
keefer0
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You did say be prepared for DUST to goto $1.50... I exited at 1.65 and will await the right time for this fantastic short opportunity.
kizly
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Fully agree, I also exited it bu on 1,95 as drop down in gold was too risky. As it is not quite sure now in which direcion will gold go - i'll wait a bit to see if it is a real bull break out or not and by dust. All marets down yesterday - gold could have few more days bull rise if the sentiment stays.
keefer0
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What is crazy is everyone is trying to chart a drop in oil everyday, but no one is trying to chart a drop in gold just yet. I tried DUST 3 times last week and got stopped out everytime. I'm like you, will wait until it has clearly turned, I won't try to time the top.
chartwatchers
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DUST had a capitulation on Friday. It could had been the bottom. Or the bottom will come on Monday-Tuesday.
As soon as the dollar finishes its decline ( maximum 4 days !!) gold will start to drop. And the miners will have a scary correction.
I will post a DUST chart in 5 mins...
chartwatchers
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And yes everyone is bullish in gold. Beacuse the news are talking about gold is going to 2000 in few weeks.Of course it's not going to hapen.
keefer0
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yes, lots of astros are charting 1400.... not likely, especially if FED boosts the dollar somehow
Loii
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There is no resistance until 1307 and 1235
chartwatchers
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I have to tell : You saw it well. But you got out at 1260-70.
My problem with You that you are not watching the cycles.
And timewise it was a crazy thing to go long gold even if you made money on it.
I agree with your levels. I will post soon why. This channel will not work to the downside. It will break down in the correction.
Benztownguy
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Weak US economy news and FED no raising the interest (or at least talking about it..) didn`t help to bring the Dollar up and Gold down. I wonder how long it will take for this situation to change, as with each day i`m getting closer to my SL (1305)