While everyone was waiting for the results of the tax bill gold bounced USD dropped hard on Friday.
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
News corrects a critical detail in its report on Michael Flynn's plea deal
Trump blasts News reporter Brian Ross over 'horrendously inaccurate and dishonest report’ on Michael Flynn
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 (Thursday)price bounced back into the channel but the close was exactly on the . So this bounce on the Flynn news might had been a final shakeout before the real drop.
We bounced near from the 200 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.
We are getting close to FOMC. Not willing to risk too much money on Wednesday.
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...
One more lower low needed
I will update if I close shorts at that point...
High volume selling reversed the breakout in 1 hour. So we have a bulltrap now.
New post :
There is the party.
You will not get 2 mild ICL in a row. I might close my shorts today to make you easier to hold your JNUG. But I will not go long.
Thats why no need to rush for a long position. I will have at least 1 more possibility to buy at 1230-40. Maybe 2. The july ICL was messed up byTrump and later Kim.