GOLD - When cycles are not working

Back in game from holiday.
My original short position from 125+ is in loss. I didn't close it because I wanted to see what's happening at the triangle's upper trendline .
The most important thing needs to be monitored that gold is coupled with the dollar. When the dollar is falling gold is bouncing when the dollar bouncing gold is falling. Especially true when stocks are breaking to new highs at uncharted territory. And the dollar still has a meeting with its daily cycle low and maybe the intermediate cycle low...
While these lows are not completed I don't want to close my shorts.
As of today we are turning down from the triangle's upper trendline . Gold is in the triangle consolidation and cycles are not working in these circumstances. You can count the days and weeks but at the end of the day/week/month the triangle screws the cycle.
We have a nice divergence in RSI on the daily chart also.

I'm still waiting for the tag of the lower trendline .

SHORT follow through, but also a good short entry.
The triangle in full size.
评论: Day 17.
Getting late in this daily cycle. We broke out of the triangle and we had 2 nothing days. After 4 tags - and 2 almost tag - of the triangle trendline we had one false breakout.
评论: Chance is high the dollar finished its panic selling today. With a bottoming dollar is it possible this breakout is false again?
Easily. If that is the case and bullion banks got the memo Trump is done with the dollar weakening for this summer and the dollar is ready to bounce they will attack gold tonight or tomorrow night to push it back into the triangle.
评论: The attack usually comes between 1:45 AM and 3:30AM in the night
评论: The breakout is valid. It's not a simple trade close: The cycle top is close so I cover the shorts and wait for the cycle top to close the "covering longs"
评论: The night attack came clockwise.
评论: Say hi to the triangle.
We are back again.
@chartwatchers, can you PLEASE update chart on Gold?
Although I agree with this and I also have my Gold short with the expectation of TP at around 1220. While knowing Gold is a much reliable on DXY (USD), unfortunately I still don´t see fundamental triggers for dollar going up. We will have to wait with this.
Bingo CW, nice to study from you, you are the only one whom I stand by that insist on expectation of Gold false break.
There is no real caltalyst to fire the rocket of Gold/GDX, let's see how far it will drop to when USD strongly rebound further in 1st half August.

First link: Monthly - my post Jul 31

Second link Weekly - now as an alternative to the BIG PIC Monthly

+1 回复
@NeverNO, from now if you want to advertise yourself under my post you need to pay. Choose an animal charity and post the picture of the transfer. It's so boring I have to go through your spams every time I log in here.
+4 回复
spencer03 chartwatchers
@chartwatchers, I am very surprised about your intolerance that you show to NeverNO. Your statement is remarkably unprofessional. Probably you can not stand his super-accurate predictions. Envy is your big problem.

@ NeverNO
I apologize for the inhuman nature of Chartwatchers. If you read these lines, I will tell you that I am very grateful to you for your great postings and have made good profit last week. The whole loss I made with Chartwatcher's wrong analyzes, I've now caught up again thanks to you.

Please report where you want to post. I really appreciate your analyzes because they always go a step ahead of the market. That's why I'd like to follow you. Thank you very much!
@spencer03, He is spamming. And he is long right now. I'm very happy with contrarian views, and accurate predictions below the posts.
This is not that. He is posting monthly charts. Most of the traders here can't wait out 2 weeks with a position. And I think he is one of them.
Anyone can make screenshots and post 2-3 weeks later under other's post: I predicted well. He never posted even one ida on TV...
But you Neverknow.
+3 回复
spencer03 chartwatchers
@chartwatchers, Yes, if you don't like someone, then it's easy to say "he is spamming" but that's nonsense, because no spam hits hip targets. In addition, I am very grateful for his Big Picture, because I can act intraday more easily. To the monthly chart he posted both weekly and intraday. Last week, intraday super-precise targets were specified and all were achieved. After the losses with your short, I have gone through his announcements and earned money and therefore come on with your spam. This is just your invention that you can not prove and nothing else. For 2 years I have traced your trades and very often you are wrong but you never stand that. And I can not appreciate this fact. You don't have to tell me anything else. Sorry
What does the COT report say now?
Since we had 2 false breakout could it be that the market dose not care for this top trendline...? Basically invalid
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