GC2!
GOLD H1 aggressive shortSince 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
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H&S Top GoldPotential 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.
Gold showing signs of DISTRIBUTIONGreat increase of upward movement today on greater than average volume. Prices closed very near the high of the day; however, even with the extra volume prices could not break resistance (C).
The next few trading days will be very important. If the rally falls and this creates another lower high below resistance (D) then I believe we are seeing larger scale distribution that started on 11 Feb into the "buying climax" (BCLX).
A failed "rally" would likely have to test support (A). My bias is bullish GOLD despite my present thesis that it is undergoing some distributive pressure. So I speculate that we would begin to see some "reaccumulation" around $112.
Good Luck!
GoldBulls remain in control of the ascending channel as sellers were unable to follow through with yesterday's decline into FOMC. Support noted at 61.8% retracment
Run Goldie RunGoldie is struggling to break out. This trade doesn't look good for us. Regardless, we still like Goldie to the upside. Stay tuned
Goldie shortGC triggered for us and now we manage the trade. First target is 1130. Today's FOMC will have some effect on Goldie so we will be watching.
You can't keep Goldie awayGC is setting up for a visit of the November lows. Pull backs are sellable. If you are in from the bear flag trim and trail. We are looking for a test of the lows, then 1100.
Is this FUGLY?GC looks fugly!!! It's chopping around and is not sure which way to go. GC may be waiting on Greece and the EU to iron out their differences. We will keep an eye on it but we don't see any reason to be involved now
Yep...we ignored GoldieAs we mentioned if GC breaks down we would pass on the trade and we did. We will watch for bounces and see if the hold. This is on our watch list. Stay tuned.
Watch more GC analysis here: youtu.be
Goldie is cooking and kitchen is getting hot!Still watching for a breakout. If GC breaks down we will pass on the trade. Stay tuned.
Thank you Goldie!OK...GC has given us a nice winner and true to our plan we will cover everything except one contract! (see past posts) This trade is a big winner for us and we would like to keep riding the move but with the ECB announcement tomorrow it's a flip of the coin. We could hedge with options but we choose to cover and leave one 'risk' contract to see if the announcement pops GC much higher. Let us be clear...the only reason we do this is because we have a nice winner and the loss of a 1 contract stop on the last leg will not threaten our profits. We will place the stop under Tuesdays lows. BRING ON MARIO!
Goldie can run fast. UPDATE: We are moving our stops up a little further. This has been a great run on the breakout and we will want to make sure we lock in more. Don't chase up here. Goldie runs fast. If you missed the trade be patient for pullbacks.
Golide is giving the love (with some help from her friends)First target is hit (Thanks Swiss National Bank). We will move stops up to just under our entry. The trade is at no risk and now we will sit on our hands and see how far she can go, As we mentioned this is a weekly setup so we expect a good size move. However, what we saw from the Swiss last night can be a game changer. USE STOPS AND DON'T BE A HERO. You job is to stay in the game.
Goldie is off and runningWe are long $GC from 1230. We will keep stops tight at 1220. Typically we will look for an extended first target but with Mario Drahgi speaking next week we want to get some off the table early. Watch the video below for how this setup.
youtu.be
Ripe for a big move.A quick update. GC is getting ripe and we expect some movement today (with NFP numbers) or early next week. This is a weekly chart signal so we will expect a nice move once it triggers. REMEMBER: NO TRIGGER, NO TRADE.
...like a snakeStill coiling. This is on our watch list. We will wait until it breaks and trade the first pause/pullback.
Goldie is coiling. GC is now coiling and getting ready for it's next move. Even though the markets will have low volumes over the next two weeks GC could makes it move while nobody is watching. We will wait until it breaks and trade the first pause/pullback. Keep it on your watch list.
Gold ManipulationLets face it the manipulated paper market is causing physical gold and silver to tank. Yet there are shortages of silver and gold and all the while China, Russia and smart people are buying physical. Why the US is BK and at some point this will fly, but the wealthy know that if they force price down they get the uneducated to sell into it and they acquire on the cheap...
