TRUMP TARIFFS TO SET UP A SPECTACULAR GOLD REVERSAL
REASONS
* Tariffs between USA & CHINA comes into effect on 23rd August......
* All Indices are close to record highs and watching for a big fall after the winter 2018 wobble.
* Chart Analysis shows break out of long term (2011-2017) downtrend, wxyxz pattern, Z to retrace around 100% of Y at around 1130 area , also a downtrend line retest, then break new high 1500 area by New Year.
* Gold never retested the highs from 2011/2012
* Gold Mining Shares (the healthy ones) all approaching or on key support levels after big sell off.
* On hourly/daily chart Gold looks like its printing an inverted left shoulder, one last swing down expected on 22/23rd August
Trade with Care & Caution, Good Luck
* Tariffs between USA & CHINA comes into effect on 23rd August......
* All Indices are close to record highs and watching for a big fall after the winter 2018 wobble.
* Chart Analysis shows break out of long term (2011-2017) downtrend, wxyxz pattern, Z to retrace around 100% of Y at around 1130 area , also a downtrend line retest, then break new high 1500 area by New Year.
* Gold never retested the highs from 2011/2012
* Gold Mining Shares (the healthy ones) all approaching or on key support levels after big sell off.
* On hourly/daily chart Gold looks like its printing an inverted left shoulder, one last swing down expected on 22/23rd August
Trade with Care & Caution, Good Luck
Yorum:
Left inverted shoulder completed, idea still valid, expecting big move down to 1130 middle of next week as money will be moving out of gold and into indices/oil which are set to fly in the opposite direction with ABCD patterns.
