End of the road for gold

Well that escalated quickly.
Posted an idea to short at 1350 yesterday. Gold is almost there, already.
Tme to prepare these orders.

These are my stop losses and targets:

تعليق:

If gold does what I predict, it has a little more road to go, but not much.
1400 is very far, if we get that far it clearly invalidates the trade.
Gold is too big for anyone (except the Rotschilds) to manipulate especially that much. Maybe on the 1 minute chart some can but that's it.

تم فتح الصفقة:

Went 2/3 in. If I am right, this week would close at 1340 or below, and then its all down from there. I hope - if I am right - gold does not top for 2 months before falling. Well last time that line was visited the price topped under it for nearly 3 months before falling, but it retraced 4.5% in that top, in 1 week. My T1 is even less than that. Should be fine.

تعليق:

Update. Ok so gold is moving fast.
What happened last times we visited resistance?

So, where are we now?
It is looking alot like hammer + clear selloff.

Looking for a 50 bucks per ounce (first) profit. Which is my main focus.

For more, it could take a while (several months). The trendline might get revisited.
Basically this should be the trailing stop loss here, on a weekly close basis.
If that resistance gets broken, it is time to get out.
If the lower trendline gets broken, might be time to add to the winner.

تعليق:

I feel the bubble is going to pop lol, and it's going to drive gold down maybe too.

Would be really nice for golbugs to have gold at 1000 or whatever right in time to buy just before investors from the beaten stock market to exit and go in gold.
What am I even saying they already bought and are underwater now.