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[ https://goldpredict.com/?p=9196 ]
Gold Predict | WEEKEND NEWSLETTER: Review of the Gold and Silver Markets 2017-09-03
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September 4, 2017 at 10:28 am
Someone asked about 1267 and goldpredict;
Who knows. In regards to goldpredict. I would not use him as an example of someone that knows what is going on with gold price action. He has missed two ICLs in a row and has been wrong about gold for the last 4 months in regards to short term moves. So now he is calling for no move back under 1300. I guess he has finally jumped on the train after been left behind for the last year. All his trades have failed for the last 6 month, so to me he is in tilt with no real insight to offer.
I like his cautious outlook, to keep one grounded but that’s about all you get for the subscription fee. With that said, yes 1267 .5 fib is now impacted due to the new high. Since this is a news event, I have no clue how high it will go. Commercials are loaded for bear, cycle is stretched and sentiment is extreme, so a DCL hunt will happen soon enough, but..
“The market can remain irrational longer than you can remain solvent.”
This is why I always buy time with options. I am in Nov puts and will observe price action once US boys come back from vacation to see if to cut loss or take a DD with the outlook of averaging down. Obviously it is very dangerous to short gold with Kim Jung Un, debt ceiling and German elections coming up this month. For sure Monday morning will sting, but it may be an opportunity as well.
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