{"id":30403,"date":"2014-11-25T10:00:39","date_gmt":"2014-11-25T15:00:39","guid":{"rendered":"http:\/\/www.ino.com\/blog\/?p=30403"},"modified":"2014-11-25T09:19:31","modified_gmt":"2014-11-25T14:19:31","slug":"gold-is-setting-up-for-a-short","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2014\/11\/gold-is-setting-up-for-a-short\/","title":{"rendered":"Gold Is Setting Up For a Short"},"content":{"rendered":"<p>By: Chris Wilkinson of Longleaftrading.com<\/p>\n<p>The overall fundamental theme for gold is still bearish. With the dollar rallying and commodities being dollar denominated, all else being equal, the price of commodities should decrease. The market looks to be pricing in low inflation to come and gold is used as an inflationary hedge.  This is a bearish fundamental factor.<\/p>\n<p>What we saw last week was very opportunistic upward movement that is helping set up the much larger downward trend that I foresee coming. The cash injections from the ECB and China should be short lived as the market will once again see these central banking efforts will not have a large impact on global inflationary numbers.  Let\u2019s look at the charts to plan our trade.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"\/img\/sites\/ino\/email\/6055.jpg\" width=\"624\" height=\"356\" class=\"aligncenter\" \/><\/p>\n<p><!--more--><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"\/img\/sites\/ino\/email\/6056.jpg\" width=\"624\" height=\"365\" class=\"aligncenter\" \/><\/p>\n<p>From the first chart above, you can see that the market is currently holding steady at the 61.8% retracement level of the measured downward move from the highs of 1255.9 down to 1130.30. From the second chart you can see the bullish Fibonacci move that has a price target right in confluence of our downward trend line. We want to get positioned for shorts after we have seen price action reject off of the downward trend line and take profit area and confirm the previous downward fib is still valid by seeing price action trade under the 50% retracement level you see in the first chart drawn as a yellow line. Once we see price action below that level at 1193.5 again it should be safe to assume the downward trend and trade to an objective of 1100 even. This is an extremely aggressive position considering the size of the move so my suggestion is to trade the intraday half back shorts once we get the validation of the downward trend.<\/p>\n<p>The Fibonacci strategy I used here provides very specific entry and exit points. It is possible to apply on all markets to help find higher probability trades. If you would like to discuss any of the following you can reach me at 888-272-6926 or e-mail at <a href=\"mailto:CW********@lo*************.com\" data-original-string=\"QeJbNc4VCboTM5FK5caIL+h3\/vFXIO+M9QHO2DYlc8Y=\" title=\"This contact has been encoded by Anti-Spam by CleanTalk. Click to decode. To finish the decoding make sure that JavaScript is enabled in your browser.\" target=\"_blank\"><span \n                data-original-string=\"QeJbNc4VCboTM5FK5caIL+h3\/vFXIO+M9QHO2DYlc8Y=\"\n                class=\"apbct-email-encoder\"\n                title=\"This contact has been encoded by Anti-Spam by CleanTalk. Click to decode. To finish the decoding make sure that JavaScript is enabled in your browser.\"><br \/>\n        <span class=\"apbct-ee-blur-group\"><br \/>\n            <span class=\"apbct-ee-blur_email-text\">CW********@lo*************.com<\/span><br \/>\n            <span class=\"apbct-ee-static-blur\"><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-init\"><\/span><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-soft\"><\/span><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-hard\"><\/span><br \/>\n            <\/span><br \/>\n            <span class=\"apbct-ee-animate-blur\"><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-init apbct-ee-blur_animate-init\"><\/span><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-soft apbct-ee-blur_animate-soft \"><\/span><br \/>\n                <span class=\"apbct-ee-blur apbct-ee-blur_rectangle-hard apbct-ee-blur_animate-hard\"><\/span><br \/>\n            <\/span><br \/>\n        <\/span><br \/>\n<\/span><\/a> . I look forward to speaking with you and assisting you with your trading objectives.<\/p>\n<p>There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data contained in this article was obtained from sources considered reliable. Their accuracy or completeness is not guaranteed. Information provided in this article is not to be deemed as an offer or solicitation with respect to the sale or purchase of any securities or commodities. Any decision to purchase or sell as a result of the opinions expressed in this article will be the full responsibility of the person authorizing such transaction.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By: Chris Wilkinson of Longleaftrading.com The overall fundamental theme for gold is still bearish. With the dollar rallying and commodities being dollar denominated, all else being equal, the price of commodities should decrease. The market looks to be pricing in low inflation to come and gold is used as an inflationary hedge. This is a [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":35,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[4298,6841,23,2567,2315,4796,4299],"class_list":["post-30403","post","type-post","status-publish","format-standard","hentry","category-general","tag-chart-of-the-week","tag-chris-wilkinson","tag-gold","tag-gold-analysis","tag-gold-chart","tag-how-to-trade-futures","tag-longleaftrading-com"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v23.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gold Is Setting Up For a Short - INO.com Trader&#039;s Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2014\/11\/gold-is-setting-up-for-a-short\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold Is Setting Up For a Short - INO.com Trader&#039;s Blog\" \/>\n<meta property=\"og:description\" content=\"By: Chris Wilkinson of Longleaftrading.com The overall fundamental theme for gold is still bearish. 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