6-month Gravestone DOJI

7-days Gold bugs. Seven days to stop price action printing the mother of all Gravestone DOJI's on the 6 month chart. If this candle confirms price action will drop to $900.

Brent Johnson's dollar milkshake theory is becoming more prophecy than prediction with each passing week.
source: www.goingdeepwithaar...odcast/brent-johnson

Action: Does price action close at $1785 by the month end? Then run for the hills like your hair is on fire.

評論:

While the idea of $900 might be hard to swallow. Consider what is happening on the dollar index. On the 10-day chart below price action broke out of long term resistance. IF support is confirmed later this year, Gold price (not value) will crash through the floor.

My real concern is what should happen if the upper channel resistance is broken and confirmed as support? We're going to see something we've never seen before and it'll not be pretty for the Gold bugs.

Something else to consider about the $900 level, this is the current labour price per ounce to remove from the ground. Why would you pay double? People do in the hope of higher future prices. It's a trap.

交易進行:

6-month Gravestone DOIJ confirmed.

評論:

Down 7%, a whole lot more to come. Isn't the FED great?

評論:

Relief rally to $1820 area, then continuation of downtrend

交易進行:

Back at resistance. And so many are bullish on the shiny metal.

A reminder. On the 6-month chart below:

1) Macro bearish divergence
2) Gravestone DOJI
3) Stochastic RSI rotates down 80.

On point number 3, look left left (red circles). A 45% correction followed. The door to $1100 is wide open.

評論:

Price action has now returned to resistance on the 2-week.

交易進行:

Weekly support has failed.

This is no time to be bullish on gold, take the emotions elsewhere.

評論:

The cup has all but printed on the monthly. Now is the time of the handle print that will take price action down to 1500 and below.

交易進行:

A new month a new 2-month candle. With this new candle (Sep-Oct) the number of negative divergencies confirm. 7. SEVEN oscillators print negative divergence with price action over an extended period. The first time in price action history.

Don't shoot the messenger ;-)

2-month