Gold bounced off of the support area for now Light volume during recent bounce indicates this is a retracement in the downtrend --> I threw in some Fibs to indicate where overhead resistance lies. Resistance at: - 7 day MA (currently there); a break would suggest the 20 day MA or the 38% FIb as target (1240ish) - 23% Fib at 1224, 38% Fib at 1240 Overall: the...
Expecting a breather as gold seems quite oversold. Look for overall sideways action for the next 5 to 10 trading days On a weekly basis, 1200 level marks the middle BBands, hence expecting some support to come in. Should we break 1200, downside targets of 1120, 110 as well as old lows at 1060 IMHO selling put spreads for the time being might be good to take...
On gold, we are inside of a monthly (1238.23-1205.49) and weekly (1243.13-1205.49) demand zones. There is also a daily supply zone formed just above us but this zone working out is low probability. We have 2 alternatives that may happen here; 1- Red: We may go to lower timeframes and look for good buying opportunities right now and ride the price till daily supply...
Since it is very low on the altitude for shorts, we should just look for a quick 1:1, not more. This trade is an aggressive one twitter.com tradewithcan.blogspot.com.tr
Short Gold GCM6 1286 | SL 1294 | Target 1186
We can go long now, and aim for 1365 and 1462.45. The weekly hasn't confirmed yet but I anticipate confirmation by next week. Stops should be below 1235, give it some breathing room! Rgmov is plotting fresh new highs, a sign of strength, and we're sitting above the uptrend mode, so it's logical to expect continuation. Notice how price held support at the options...
This ratio gives very timely signals as to when to more optimally switch between risk on or risk off biases. It's clear that we can long gold, bonds and yen now, I'd be careful with equities, at least not going long indexes, or looking for shorts in weaker securities would be my favored approach. I have booked profits on a few profitable long trades, and...
Good credits for this Bear Call Spread. With GC going down, showing it's intension to the downside, i love to get some $ for low risk... P!
Potential H&S Top, declining volume on right shoulder, wait for neckline break for confirmation. Short on 40% retracement from top of right shoulder through low of breakout.
GLD banged it's head at the centerline (blue), which is basically the center of the A/R set. Next support is the downsloping centerline of the bigger A/R set. P!
Here is the second hidden hint i was able to reveale from the same chart, that gave me the heads up for a high probability short. P! Basic Action/Reaction for free: mytradingcoach.teachable.com
How is this possible? How can one find those spots (red dot), to initiate a trade with a high probability of over 80%? Yes - if you short the upper Medianline Parallel, then you have a chance of >80% that price reaches the Centerline (grey). The "secret" lies in KNOWLEDGE. If you know WHY you choose the spot where you draw your lines, then you know the reason...
Case A: a small base to build around 47-50 and proceed at least to 1260 where a break must happen to attach 1280 Case B: a deeper correction into 1228-1236 zone and from there move to 1280 on a powerful impulse