TheMarketSniper

Yen to 45 to the Dollar spells dollar collapse

Hi,

The great thing about an established Macro trend upwards in Gold, is that it regularly throws off Set Ups for catching a Break Out to the upside.

The Hourly Chart Below shows exactly such. On a quiet Sunday in Mallorca I was able to place Buy Stops at The $1,181 level (RH3) to trigger me long on any breakout above this level.

With a clear tight Loss stop (RL3) where I would accept being wrong $1,174.9

The Hourly candles prior to the Break out were all very small bodied and `hammer' like in shape - All this was classic behaviour and confirming behaviour for my pattern. The Volatility of `Dubai Default Day' was being wrung out.

Both Sellers and buyers were tightening around the $1178.5 level (Axis - Middle Horozontal line in pattern).

We were tipped in at the $1,181 line on the Breakout upwards (with a live stop at $1,174.9). My target was set just short of all time highs where resistance had developed at RH1 $1,194.

This provided a HVF Trade namely a `High probability' trade in your favour which took $13's/per ounce before leverage (£10/pt would have yielded £1,300 in 2hrs). All this while risking a $6 downside if wrong, A Risk:Rewards ratio of 1:2.1667

Hi, Gold has formed a â€Hunt Volatility Funnel†and broken out thereof against the strongest major Currency year to date namely the Australian Dollar at AUD1211 per ounce. This confirms that Gold is no longer climbing on Dollar weakness and is in fact moving forward at pace against all fiat currencies. It has also broken the cycle on the USD where it asserts in the final week of each month (20 â€" 27th) and is now likely to have an exponential period of growth vs the USD. In the original weekly pattern at the Break of $962. I stated that a target of $1250 â€" $1300 was projected for the initial spike of the move. From The weekly pattern. Charts to follow, along with rapid climb in Gold. Happy Trading.

In the Sunday Times Sir Stuart Rose, Stephen Hester and Eric Daniels all called a recovery in progress.

I have learnt sometimes it is not what is being said, rather who is saying it and why they choose to say it.

So that would be a smarmy, posh twit with one eye on future consulting/political roles once he has done being M&S's Chairman and CEO (Wholly bad Corporate governance and personal power & ego trip).

Plus two banking CEO's, however not any banks, those explicitly controlled by the state and bailed out to epic levels.

When these are the sole `Recovery' cheerleader's being passed off as independent opinion, we really need to worry.

Who co-ordinated the timing of these joint mutterings? Any reason Barclays and HSBC CEO's weren't feeling similarly chipper.

The fact that `The Master puppeteers' read Labour government (Brown/Mandelson?), felt that some Rah, Rah, Empire Strikes back! Hubris was required is a greater concern in itself, at best weak Election Platform building!

Be Afraid very afraid!

Whilst quivering in our collective boots, filling them with Gold will prove of great use, you can get back Britains Bullion at 4/5 times the price Brown unloaded it for and still make money!

First tipped at $550, 18+ Months ago and again at $962 (2.9.09) - Currently $1096

Multiple Thousand await in a shortish time frame, we are drowning in Fiat currency, Save your family finances, The Government is trying to destroy our fiat currency ($ even worse) to save us from the credit Binge.