Gold Bulls-you've made a huge mistake

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
At the moment of writing this update our full 250% net short positions in gold , Silver and mining stocks are well justified from the risk and reward perspective.

Conclusion-yesterday The USD Index formed a vital bottom or it's very close to it. The reverse head-and-shoulders pattern remain in while the breakout above the rising wedge formation was invalidated. This concludes that the pause we are witnessing in the precious metals sector and mining stocks is almost over or very close to being over and that another big breakdown is likely just ahead.

we will keep you informed anyway

many regards-Neeraj Pandey

Our existing positions

Sell Limit Price: 14.750

Take Profit: 12.80

Stop Loss: 15.600


Sell limit Price: 1185

Take Profit: 1080

Stop Loss: 1221
( It doesn’t, however, mean that we won’t adjust (limit, close or even reverse) the position before this price level is reached. If we get enough confirmations other than gold’s price level itself (for instance, mining stocks show strength and silver 0.00% 0.41% -0.81% -0.88% 0.28% -0.53% 0.13% -0.13% -0.06% -0.26% -0.19% -0.06% reaches a very important support level , while the USD reaches a key resistance), then we might do it, just like we’ve done previously (which ultimately caused the short position to be more profitable).

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