It was a busy Friday and Saturday on the markets. My bets are still on the gold shorts - at least for one more week...
While everyone was waiting for the results of the tax bill gold bounced USD dropped hard on Friday.
Dec.1.
Michael Flynn pleads guilty to making false statements to FBI about conversations with Russian ambassador
WHITE HOUSE: 'Nothing about' Flynn's guilty plea 'implicates anyone other than Mr. Flynn'
Stocks tumbled, gold spiked USD dropped on report that Flynn is prepared to testify against Trump
Michael Flynn is now cooperating with Mueller — and could fuel the obstruction case against Trump
ABC News corrects a critical detail in its report on Michael Flynn's plea deal
Trump blasts ABC News reporter Brian Ross over 'horrendously inaccurate and dishonest report’ on Michael Flynn
Dec.2.
Senate passes tax bill in massive step forward
REPUBLICANS REJOICE AFTER SENATE PASSES TAX BILL IN MAJOR WIN FOR TRUMP
As the result of tax bill was only after market close the effect of it will be seen only after today's market open.
After breaking the blue trendline (Thursday)price bounced back into the channel but the close was exactly on the trendline. So this bounce on the Flynn news might had been a final shakeout before the real drop.
We bounced near from the 200 SMA last Friday. I suggested to book some profit at 1270-72. I reentered into the full short position at the market close at 1280,5 on Friday
After the senate passed the tax bill and we have FOMC approaching with a rate hike on the 13th of December I think the chances are high gold will drop in the following 2 weeks. If we don't get the drop until the 15th of December I will question we can get any drop into the ICL...
I really would like to see gold's price below 1260 in the following week otherwise our chance for a severe drop is thin.
While everyone was waiting for the results of the tax bill gold bounced USD dropped hard on Friday.
Dec.1.
Michael Flynn pleads guilty to making false statements to FBI about conversations with Russian ambassador
WHITE HOUSE: 'Nothing about' Flynn's guilty plea 'implicates anyone other than Mr. Flynn'
Stocks tumbled, gold spiked USD dropped on report that Flynn is prepared to testify against Trump
Michael Flynn is now cooperating with Mueller — and could fuel the obstruction case against Trump
ABC News corrects a critical detail in its report on Michael Flynn's plea deal
Trump blasts ABC News reporter Brian Ross over 'horrendously inaccurate and dishonest report’ on Michael Flynn
Dec.2.
Senate passes tax bill in massive step forward
REPUBLICANS REJOICE AFTER SENATE PASSES TAX BILL IN MAJOR WIN FOR TRUMP
As the result of tax bill was only after market close the effect of it will be seen only after today's market open.
After breaking the blue trendline (Thursday)price bounced back into the channel but the close was exactly on the trendline. So this bounce on the Flynn news might had been a final shakeout before the real drop.
We bounced near from the 200 SMA last Friday. I suggested to book some profit at 1270-72. I reentered into the full short position at the market close at 1280,5 on Friday
After the senate passed the tax bill and we have FOMC approaching with a rate hike on the 13th of December I think the chances are high gold will drop in the following 2 weeks. If we don't get the drop until the 15th of December I will question we can get any drop into the ICL...
I really would like to see gold's price below 1260 in the following week otherwise our chance for a severe drop is thin.
הערה:
Now.
הערה:
If it’s not breaking then never.
הערה:
הערה:
Bouncing from the previous DCL. Its not over yet. We need to run those stops
הערה:
Running the stops. At the end of the day I got what I wanted for weeks.
הערה:
NFP tomorrow. We’ve seen billions of tricks here. So as we jumped in and out almost petfectly I have the luxury to take profits on 25% of the position here at 1251.50.
הערה:
הערה:
I dont think it’s over yet. If there is a bounce I will sell this 25% again. If not the 75% is more than enough.
הערה:
Closing 25% of the original position based on RSI hourly oversold.
We are getting close to FOMC. Not willing to risk too much money on Wednesday.
We are getting close to FOMC. Not willing to risk too much money on Wednesday.
הערה:
Still having the 50% of the original short position.
הערה:
הערה:
Just a note:
I will get out of all short position if we get one more long red candle near to the close or during the European night session.
It could be similar what we had yesterday and 2 days ago - I highlighted by red arrows.
The target could be around 1230...
I will get out of all short position if we get one more long red candle near to the close or during the European night session.
It could be similar what we had yesterday and 2 days ago - I highlighted by red arrows.
The target could be around 1230...
הערה:
Back in full short position again at 1255.
הערה:
I still have a feeling it's not ready yet.
One more lower low needed
One more lower low needed
הערה:
Holding shorts.
הערה:
H&S broke down
הערה:
Now we have the fuel to test 1200.
הערה:
The critical point will be the green circle.
I will update if I close shorts at that point...
הערה:
LOw volume breakout from the flag.
High volume selling reversed the breakout in 1 hour. So we have a bulltrap now.
High volume selling reversed the breakout in 1 hour. So we have a bulltrap now.
