Gold: $1350-$1400 in Less than 4 Weeks

Yes, that is what our channeling method suggests.

XAUUSD Daily Chart - May 1, 2016 (Close of April 29, 2016)


In this daily chart, we have 5 moves up off the low and Gold is currently trading in the red wave iii of the blue wave (5) of the intermediary i.

We expect this wave iii to top around 1310-15, which corresponds with the 162% extension level. Then, any pullbacks must hold above 1280 in order for wave (5) to top in the upper-bound of the channel.

We do not recommend any short positions in this price structure unless the upper-bound of the channel is reached. We will open a small long position at market open with a tight stop and our 1st target will be 1310.

XAUUSD Daily Chart - Long-Term Structure


(I intend on posting my articles here everyday, however if you would like to ask me anything private message me :slight_smile: )

Hey there - four things if I may please…

-The channel on your first chart is not technically sound.
-Did you trade the “upward bound of the channel breach”? Did you trade the “50% retrace of the supercycle”?
-Please share what price you and your team got a fill at (as well as where your stops are)? I’d like to watch how this trade develops based on your analysis.
-Who is “we” - sorry if I missed something. Are you with a brokerage?

Why are you taking a “small position” if you’re seemingly incredibly confident in your analysis that you can book a $150 move in less than 3 weeks w/ “a tight stop”? Why wouldn’t you be up to full risk?

Jake

Even after some of your posts have been deleted as being obviously self-promotional?

It’s not an article directory, but in any case, they certainly don’t belong in “Newbie Island”: there’s a special section of the forum reserved for ([I]non-promotional[/I]) posts of this kind, right here: [B]301 Moved Permanently [/B]

Inviting private contact like that is one of the (many) things that makes your motivation appear so clearly promotional.

Well said, Lexy…

It is a fine line, of course…

As for gold, I am really not sure…

Fundamentally speaking, as risk aversion is building up, I would

rather back the US Dollar than gold… Gold is not an easy precious

metal to understand, fundamentally, so this ‘easy technicals’ way

presented here does not convince me one bit.

If you have 100oz of XAU, I will gladly exchange my USD (plus a small premium) to take the gold off your hands. 10 times out of 10, I’d rather back something with actual intrinsic value- not monopoly money that is literally worthless.

ESPECIALLY given where the markets are at right now. Anyone still long USD is getting burned and/or about to be in a world of pain very soon.

:slight_smile:

There are a lot of talks by gold experts and it is rather too complicated… not my special interest,

so while I understand and to some extent agree with what you are saying (that is, physically-backed

commodities being a better investment than fiat currencies) I am just not into precious metals

and they are not part of my investment interests, so I cannot argue for or against what the OP

is proposing.

:slight_smile:

im 90% confident that gold will go either up or down.

i hope this post was helpful

Before the World Meltdown in 2008-2009 Oil was trading at $50 and gold was trading at $500. In 2001 Oil was trading at $11 and Gold was trading still at $500. What is gold used for really? Oil, well Fracking, electric, fuel cell technology, LNG on the rise, hello $11 bucks. Gold? $200 bucks.

There are better ways to play the metals , here is one, the gold miners index, this will normally outperform gold, another good one is S&P metals and mining ETF XME, up 64% YTD

Not sure where you are getting your numbers but here is oil index monthly chart going back to 2005, oil topped in July of 08 at 146

Ok, did you “play” it?

Hey Jake,

We-Is my team and I (forexsignalsfactory.net)

I prepare analyses and post them daily there for free so all I do there is copy paste them so I don’t make any changes.

No we are not with a brokerage, simply a team of traders who want to share their strategies and want to build a network of traders.

And I am never confident enough with anything to go full risk. It all depends on scenarios.

Yesterday I was long 1293 - out 1298, now I am short 1298 and stop loss is 1291 (positive)

PPPfff yeah I Know you are right.

I am not used to this forum, will take your advice :slight_smile: Thanks

Mind sharing some charts w/ the trades?


I dont mind at all. Here is the time stamped long and short :slight_smile:

Yes I am long GDX

If your chart analysis is correct and gold is heading to 1400, why in the world would you be taking shorts, Not something I would do, but if you can make it work, more power to you

Gold movement on the chart seems still on bullish if weekly timeframe as trigger, on monthly also having tendencies to bullish , but now low timeframe occured bearish pattern

Ok oil dipped to $50 in 2007. Not to worry, with Iran having shale oil and 1/2 the conventional oil reserves of Saudi Arabia, $11 dollar oil is coming back. As for Gold, $500 bucks at best. With that out of the way, oil and gold can be traded which is why you are on Babypips. Get the direction and PT right is all that matters.