BULLISH BREAK OF 2507.66: Go for GOLD!

10 set

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

Gold is travelling well inside a Daily rising-wedge.

The next key level to break is 2529.20 a Top3 created last Friday.

Intraday, Gold has smashed through a Top2 at 2507.66.

All of my Momentum indicators show a bullishness in Gold today Tuesday.

Very little economic news for USA today Tuesday.

One threat will be the USDX which will be looking to make a bullish move above 101.85, a level it got to as recent as last week.

Chris

easy_explosive_trader

10 set

Trade attivo

Long Gold: At current market price.
Price has retraced to the 61.8 level.
That is as good at the moment I think

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Nota

Buy 2506 to 2506.50

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Ordine annullato

USDX rallying close to 101.85

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Nota

on the very low timeframes usdx is forming a bullish w/bottom to try and push through 101.85

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Nota

USDX about to makes it next hit

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Nota

on 101.85

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Nota

Be careful with long positions traders.
USDX is getting deep for another sweep up

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Nota

Vix INdex is on the move and about to break higher

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Nota

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Ordine annullato

The dollar is about to have another run at 101.85

11 set

Trade attivo

I Have a Short Setup in XAUUSD...Standby

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Nota

I am waiting for a deep retracement. So far price fell off a cliff. Better price to enter on a deep pullback.

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Nota

Short Sell from 2524.25 - 2525.30
SL: 2527.80

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Nota

My reasons for Short apart from price recently dropping quite big from a test of a previous high, is that GOLD IS OVERBOUGHT currently. THE BUYING PAST COUPLE OF DAYS AND ITS INCREASED IN PRICE QUITE A LOT.

11 set

Nota

The past couple of hours the Gold price TESTED 2529 I counted 4 times, did not break through and sold off quite quickly.

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Nota

Might get a better fib retracement level in a moment. (lowertime frame double tops).
I think the $ will rally again at start of New York today Wednesday. I still tip the $ to breakout past 101.85 by Friday close of NY. It could be today.

11 set

Trade attivo

I hope you got on the Short - trade at around 2525.
I think there may be some momentum with us because the momentum oscillators for Gold are supportive of downwards price movement as we head towards NY session.
I am expecting the USDX to rally again at around 9 - 10am NY time. The VIX Index could spike upwards again & this would be supportive of the Short trade & with this strong shock-volatility it's possible goes back under 2500. That is how I see it unfolding once the USDX rallys through 101.85 with a sustained push and break of that level.

11 set

Trade attivo

I am still Short Gold from about 2600
A break below here will be good for the Short. See chart...red line.

11 set

Nota

Correction: I Sold Gold at 2526

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Nota

So from the price level now....all the way down to 2500 it is more difficult for price to slice through to move lower due to some very think buy-order blocks. In other words, price may get some support here and turn around for a bit.

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Nota

CORE CPI due in 5 minutes.
For our Short Trade today, we are after a cpi number greater than actual. A big number.

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Nota

Take a partial close.
I bought back in about 75% of lot size
you have 2 minutes

11 set

Nota

It was a Green bigger number for cpi. USDX did not move. Gold's direction maybe down??