Goldie Rocking!Goldie may have another move in her. We like the Trigger zone for longs. REMEMBER: NO TRIGGER, NO TRADE!
Goldstocks
FLAT GoldFLAT...we covered our position on this AM sell off. Crude popped over rumors which drug the indexes with it. Goldie rolled over and puked after making a new high. We are on the sidelines waiting for another opportunity. Stay tuned.
Aunt Janet to the rescueAunt Janet to the rescue. The FOMC didn't raise interest rates which sent the indexes tumbling and popped Goldie. We are getting close to our final target (200Day EMA). If we see any weakness we will cover the trade We also pulled the stop WAAAAYY up to lock in profits.
Goldie...number #2UPDATE: We took our 2nd target at 1122. Stops are pulled just under our entry. Now we wait for Aunt Janet for some love. LESSON: Observe how we managed this trade in order to give ourselves an opportunity for an FOMC pop. If you missed the trade be patient and wait until after the FOMC news to find new trades.
Third Times a CharmThird times a charm. We waited for the second resistance area to get long...again. We have been playing the long side for a while and we think Goldie has eyes on the 200 day EMA. For now we have our 1st target and hopefully get number 2 before FOMC. Aunt Janet surely can't pull a Mario and knock us out of our position? ;)
Goldie floating higher?Mario spoiled the party and took us out of our trade Thursday. When this happens we will sit on the sidelines for a day to see what happens next. Friday was an inside day for Goldie. We expect a move outside the range on Monday. We still like the upside and will continue to look for long triggers until we are proven wrong. There are two areas to look for triggers. Either way...WAIT FOR A TRIGGER!
Is Goldie sleeping with Draghi?Goldie broke back above our long area today and we got long on a quick trigger. We took some quick profits and are now holding a small position going into the ECB announcement tomorrow. The timing wasn't good on this trade because of the news so we will be patient and see what kind of party Draghi will throw tomorrow.
Goldie is tryingGoldie is trying to back above the 1095 area. If we see price above that area we will look for a trigger to get long. Be patient with her...it may take her a few days to cross that hurdle.
She has a mind of her own. Goldie is always keeping people in on their toes. We were expecting some consolidation on the breakout and then another leg higher, but Goldie has other ideas. She is now back to our original entry. If price closes above 1095 we will look for triggers long. NO TRIGGER, NO TRADE!
Goldie setting up?OK...we are flat Gold and want to re-enter for a run to the 1140-5 area. We would like to see a pullback to the 1089 area but in strong trending gold markets deep pullbacks usually don't happen. We believe Goldie with consolidate in this area for a day or two and start another leg higher. We will be looking long for triggers after the first 60 minutes of the trading day. NO TRIGGER, NO TRADE!
Wise WordsIn hindsight we covered our trade a little early. However, a mentor told me if you pick tops or bottoms you will go broke...if a move is for real there will be plenty of time to make money. wise words!
Goldie delivered the trifecta. Second Target was hit intraday today and we covered our final leg on a globex pop. This trade work out very nicely with very little pullback. This is the exception and not the rule. Most moves have some back and fill before hitting 2nd and 3rd targets. From the looks of it, 2016 could be a very good year for traders. If you missed this trade DO NOT CHASE! There will be many more coming.
Goldie Trade UpdateWith a break of the previous days high and as it inches to our second target we are pulling our stop up closer to the entry. Manage your trade!
GOLD (GC, XAUUSD) - JANUARY INTRADAY FORECASTThe new adjustment to the gold/us dollar by the EWA/EWP analysis! There are 2-variants of the price progression in subwave C. Classic impulse or can be Ending Diagonal Triangle!? Anyway: Buy limit - 1073.56, S/L -1069.00, T/P - 1086.00
Best regards! Sincerely yours, Powerful Traders.
Goldie on the runWe are long Goldie and got our break out. We took a little profit and on the first break. We have pulled stops up a bit and are now looking for two more targets.
CHEAPER WAYS TO PLAY GOLD -- GDXJ/GDXFor the longest time, my go-to to play gold is GLD, which is intended to emulate the price of gold bullion. However, this can tie up a disproportionate percentage of buying power due to the price of the underlying.
Naturally, there are alternatives out there to GLD that are either ETF's (like GDXJ and GDX) or outright securities in companies that acquire, develop, and operate precious metals properties (e.g., AUY, GG, AEM, KGC, ABX). Although some of the individual names are better than others, they all seem to be struggling to varying degrees in this market, and it is possible that some of them will not survive bullion's downturn from the atmospheric highs gold experienced in late 2011. Because of this possibility, I would opt going for an ETF over an individual name in this sector to reduce the risk that taking a position in an individual name entails (i.e., total implosion; AUY comes to mind).
Neither a GDX short strangle nor a short straddle will yield much premium here. Selling a naked short put at the edge of the expected move to the downside in the underlying (around the 12.5 strike for the Feb 12th weekly) will yield about $30 in premium/contract; not that great a figure after fees and commissions are considered. Additionally, doing a covered call here isn't quite up to my standards, since a Feb 19 covered call setup with a short call at 14 would only yield a max profit of $99 if called away with a $13.01 per share cost basis ($99/$1301 < 10% ROC).
The best thing to do is probably wait for higher volatility in the underlying to make a play (it's below the 50th percentile right now for the past 52 weeks), since this will make premium richer for a covered call setup. Right now, then, good for the watchlist as an alternative to a GLD trade going forward ... .
She's angry....let's trade her!Goldie is being Goldie. She is hurting traders with indecision. She has now formed a triangle and we are setting up a nice signal on a daily time frame. The pat of least resistance has been down and we have been using th $1,000 level as a magnet. We still like $1,000 but if she decides to hurt more people she will break to the upside and we will target the $1,100 area. Be nimble with Goldie...she is finicky.
GOLD (Daily Forecast)GOLD (XAUUSD) - There is the EWA/EWP on a daily format! Please remember the main Rule! Think on the great timeframes, enter into a transaction on minute charts! Sincerely yours Powerful Traders.
GOLD (xauusd) LONGLong position! Buy limit 10 lots at the price 1073.50 and second buy limit 100 lots at the price 1065.73. Both trades S/L 1060.00 & T/P 1087.00! Have a nice trades! Sincerely yours, Powerful Traders!
GOLD (XAUUSD) LongFRS tomorrow. Suppose, that many traders will hedge own finance. So, I will buy the market, S/L 1045.40, T/P 1096.31
Gold bugs need to stand their groundGold bugs need to keep Goldie above 1066 area or the next stop on the bus could $1,000. Look at this chart and ask yourself where stops area. Above the 1086 area and we could see a pop on the squeeze. Either way good trades are setting up!
