Yes. I think this is the time to sell again.
While we might have one more pop up to the daily 200 SMA at 1232-33$ gold should be ready to break the support of 1214$.
Have some dry powder for that final bounce to 1233$ in the next 24 hrs but I don't want to risk getting left behind so I re-entered into the short position here at 1228,5$.
After we tagged the 50 EMA everything looked perfect : RSI oversold, bounce, bear flag , tag of the 50 EMA, rollover, breakdown to new lows.
But I told you banksters are back to the game after the holiday so the nasty games started again:
- Breakdown halted.
- Price reversed from the breakdown.
- Breaking above the 50 EMA and the previous bear flag top.
Now we can assume that everybody stopped out so the decline is back to normal and we follow the original plan.
New SHORT entry at 1228,5$
Target : 1198$
While we might have one more pop up to the daily 200 SMA at 1232-33$ gold should be ready to break the support of 1214$.
Have some dry powder for that final bounce to 1233$ in the next 24 hrs but I don't want to risk getting left behind so I re-entered into the short position here at 1228,5$.
After we tagged the 50 EMA everything looked perfect : RSI oversold, bounce, bear flag , tag of the 50 EMA, rollover, breakdown to new lows.
But I told you banksters are back to the game after the holiday so the nasty games started again:
- Breakdown halted.
- Price reversed from the breakdown.
- Breaking above the 50 EMA and the previous bear flag top.
Now we can assume that everybody stopped out so the decline is back to normal and we follow the original plan.
New SHORT entry at 1228,5$
Target : 1198$
Note
Stop run in silver in the previous hour. 2$ down in a minute.Note
It's not a mistake. I checked it on 4 platforms.Note
These Bankster's are not shy.Note
"chartwatchers PRO 777trades Jul 6 777trades, Summer NFP usually strong. After the weak May this should be above 200k
+3 Reply"
Note
Even if you figure out the data market can trick you...Note
chartwatchers PRO 777trades Jul 6 777trades, Summer NFP usually strong. After the weak May this should be above 200k
+3 Reply
Note
It was strange that we bounced, I was waiting for an immediate breakdown.Note
But at the end of the day patience pays out.Note
So all who is still with me ...We have to watch this brakdown very carefully. DUe to my cycle count we are getting late in the daily cycle . I don't plan to get beartrapped in this breakdown.
If this reverses we are out of the shorts.
Note
Below 1214 we are having a failed daily cycle.Note
I'm happy to announce the failed daily cycle.Note
And here we go. We entered the panic selling.Will last for only a few days but as short as painful for the longs.
Enjoy profits.
We will be buying soon. (Next week or the week after that)
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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.