GOLD - Arrival
I will be a bit late to the party with this long idea but as I see we have too much gold short idea in Tradingview right now.
Will all these retail trades make money on the short side ?
I doubt.
If you short gold you have to be ready for a 100$ upward move in the following few days. The stock market is slowly topping out and liquidity - at least some of it - will move into the precious metal complex.
Silver will be a winner in this but I don't think gold will fall or stay in a range in the next 2 weeks. I see a big chance it's going to test the 2011 summer high.
Plan accordingly.
Will all these retail trades make money on the short side ?
I doubt.
If you short gold you have to be ready for a 100$ upward move in the following few days. The stock market is slowly topping out and liquidity - at least some of it - will move into the precious metal complex.
Silver will be a winner in this but I don't think gold will fall or stay in a range in the next 2 weeks. I see a big chance it's going to test the 2011 summer high.
Plan accordingly.
Nota
Gold is underperforming silver just as I expected. The reason is the XAUXAG ratio:It’s doung its job just any other asset.
Nota
Gold just tagged the bottom of the bull flag rectangle as RSI got oversold and printed a nice rally today. We are going to break out of the rectangle and run to 1900.
Nota
XAUXAG ratio lost the 200SMA . After a successful backtest today it’s heading lower. I still think silver will be stronger than gold at the end of this intermediate rally.
Nota
XAUXAG drops again today.Nota
Gold is trying to break out.Nota
Breakout completed. Target 1900. Nota
Actually I see nothing between 1823 and 1900... so this might be a fast 2-3 days moveNota
We are getting close to the target price.Nota
I think we are going to test the all time highs this afternoon .
Nota
Eveb if we break out I’m going to sell into the panic buying and stop run as this intermediate cycle is close to the top.Nota
Almost there.
Trade chiuso: obiettivo raggiunto
Nota
New all time highs.Nota
We might have topped a bit ahead of 2000$. Nota
When all the goldbugs started to chase the price , everybody who didn’t buy at 1800 boght in the hope of breaking 2000 for an immediate run to 3000$ in the heat of the night smartmoney dumped their gold to these poor people.
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