Gold looks weak right now. Please see chart.

28 Ağu

https://www.tradingview.com/x/U2vaJv1D/

Hello, a break below 2523 and there is not much recent support.

I have been watching price in a double bottom system and they have so far failed to drive price up much at all. In fact, I think this level might break soon and then below 2523 will bring more sellers in. I could see the weakness early.

If you are a more 'green' trader I do not recommend you be shorting gold in this current market.

If you do risk a mere 0.25% of your capital and keep a wide stoploss zone because price will retrace before making a move lower.

28 Ağu

Not

4HR stochatic is coming into sell territory now. As I said earlier every time frame is simply overbought including the weekly

28 Ağu

Not

Price has jjust entered a buyorder block but this wont hold for long

28 Ağu

İşlem aktif

Update on Gold Short:

The momentum oscillators on the higher time frames all point to bigger falls in the gold price. Now if the weekly Stochastic which is also very bought wakes up and bangs down on the 80 stochastic level then price could go even lower.
The MTOP would also have to be breached for us to get back down to 2500

28 Ağu

Not

This even bigger bearish Mtop could come into play. I really have. no idea. My feeling is that 2500 is where all the buyers would step back in. My stochassics will tellme

28 Ağu

İşlem aktif

I am still Short...I have locking in profits and selling back into it.. But I never get too greedy because that is when you can get unstuck.

Here is the Daily Price-action travelling inside bollinger bands. The bands are just starting to expand as the market senses this volatility in the gold price right now. the top indicator is the daily stochastic, he is not poining down yet but the RSI is in a nice selling position (lower on screen)

28 Ağu

Not

You can see here the 1hr rsi and stoch are starting to point up a bit and getting down into oversold. But my 4hr team are now doing the heavy lifting and then the daily and weekly when they cross down huge selliing can occur.

28 Ağu

İşlem aktif

Update on Gold SHORT:
I am still seeing plenty of momentum to the downside.
Daily RSI is working hard but the Daily Stochatic will soon come into play when price gets weak and ceil-the-deal probably down near 2500.
I recommend you put a loose trailing stop on. When these shorts finish the price turns around very aggressively. Why? Because mr and mrs market maker don't want you to make money on the move up.

28 Ağu

Not

Just a retracement guys. Silver price is retracing and about to sell off again.

28 Ağu

Not

Silver possiby selling off again soon.

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28 Ağu

Not

Its more of a bearish w/bottom. Bullish ones have the right side a bit higher

28 Ağu

İşlem aktif

I am still short.
Matter for yourself
Price was just accumulating at the 38.2 fib level and respecting it. I think. this will turn back down soon but i cant be certain because the 1hr stochastic and rsi are more at the oversold level BUT 4HR Daily and Weeklyu are working for us

28 Ağu

İşlem aktif

4hr on the right Daily on the left.
It all looks good.
I want to see the daily stochastic cross down on 80. Selling will resume hard then

28 Ağu

İşlem aktif

I am still short in gold:
The 1hr stochastic is not supporting us like before but 4hr and daily are.
It's a matter for yourself if you wanna stay longer in this trade.
This is. potenially where the gold. price will go on abreach around 2505.

28 Ağu

Not

FED Waller speaks in 1hr time. Wow politicians speak during the night in the USA

28 Ağu

İşlem aktif

This triple bottom on the 2m...that aint gonna hold

28 Ağu

Not

Dunno about you but I sense another big breakdown in the gold price soon. ONce it breaks about 2513.70 it wil be a fast move down

28 Ağu

Not

Massive falling wedge on 1m taking price down

28 Ağu

İşlem aktif

Update on the Short gold:
Things about to turn ugly to the downside guys. See chart.

28 Ağu

İşlem aktif

Here is a link to my latest analysis on the gold price in relation to its touch of neckline of MTOP sell-off. However price touched the neck and immediately retraced. Please click on the below chart and then scroll to the very bottom.

<deleted>

28 Ağu

İşlem aktif

Hello, I would be careful buying the gold price even at these seemingly cheap levels. I think gold will playout the MTOP system and breach of the neck and my osciallators on momentum are telling me we have have further to fall.
You are welcome to click on my charts