From my last post, i explained my idea about the DXY, and i think USDOLLAR will go higher very soon. Also, FED will add the rate on December. Gold might bounce back a little bit, then we will go to the new low. I will short the pull back and look Gold to 1200.
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Haha, Gold seems don't give us any chance to short the pull back. Also, USDOLLAR got the new high, and it will still go higher. As i said on Tuesday, we are heading to 1200 ( or even lower!)
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Gold touched 1202 this morning, take some profits
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Now, we are big winner! Gold is now going to 1180, and i still think this just the start, we are heading to the new low!
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i will close this one and start a new idea soon. Trade with care guys!
what do you think what will be the lowest price it can hit by EOY? i feel and as per all big analyst, seeing bullish in 1st qtr 2017. dont want to loose the rally from this bottom. already missed last time in Jan/Feb.
Nee_sh
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@jigneshrathod, Actually, it's hard to judge the price of the short term bottom right now, because we need to see if gold will break the 1200. If gold breaks 1200, the next target will be 1180. I think usdollar still have big potential to go higher. For long term, i will insist my idea to short gold. I think gold will have a pull back in the 1st qtr 2017, because usdollar need a correction after FED raised the rate. After that, i think gold will go lower. We also need to put some attention on Italian constitutional referendum this December. The voting result may help the gold bounce up. Hope my answer helps and trade with care!