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
Goldstocks
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.
Does Goldie want more? Now that Goldie has pulled back it will be on the watch list. Above the the trend line and we will look long. Stay tuned.
See our weekly update for more: youtu.be
Goldie took us out!We were stopped out of our last contract in GC. We will keep a close eye on Goldie. We still like the upside. Stay tuned
Watch more on our Weekly Video Update: youtu.be
Goldie is strong.We are still hanging on to our 1 contract in GC. Mario Draghi plans on loads of QE. What does that mean for GC? For now we see more upside. We pulled our stop and will keep a two day trailing stop until we are taken out or we see the 1320 level.
Here our comments on this Weekly Video update: youtu.be
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
Goldie is off and running. We 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
Goldie is ripe!Goldie is starting to get ripe and we are watching this very closely. Watch our video below to see how we will get involved with this trade.
See how we will get involved with this trade:
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.
We want more...downside! After a few days of back and fill trading GC broke to the upside and squeezed the weak shorts. The pop was with good volume. We are still watching for more opportunity to the downside but we could chop around for a few weeks before seeing another leg down. Remember...the Dollar has broken out of a multi year consolidation and is expected to move significantly...this will put pressure on GC (gold).
To see more watch: youtu.be
Goldie is trying to fight. GC is having a nice bounce. This was needed after a large move from the last push down. We are expecting GC to rally a little further and chop until after the first of the year. Make no mistake Gold is still in sell mode with targets at 1100 and lower. Expect a good fight form the bulls on the bounce. Stay tuned.
1,2,3...GOLDGold did as we expected (See prior post). We are now at a critical point. Gold has triple bottomed. We have been trading for 15 years and we can count on one hand the times a triple bottom held. However , they may try to squeeze the weak shorts before rolling her over. IF you are long...USE tight stops and recognize that if this breaks the triple bottom it could fall for a while.
Anybody want my Gold? We are staying away from Gold for now. There is no edge in this area. Lot's of needles have drained the accounts of amateurs. DON'T be an amateur! Be patient. Another setup is around. We are watching for either a bounce into resistance or a test of the weekly double bottom. Stay tuned
We got it...no, wait...Whippy stuff. We got short (from a smaller time frame) in the consolidation with a tight stop. As we broke out we were able to take some off the table...but the buyers stepped in and ran it back into the consolidation and took us out of the trade. Not a a great trade considering it is still falling. But no damage was done. LESSON: Know you trade!! We like bigger pullbacks and small consolidations after big moves are not our favorite (especially in GC1!). We will trade them but with smaller size and tighter stops. So we wait and watch for another opportunity. That's trading!
We'll take the chicken to go...Winner winner Chicken dinner! GC1! hit our last target and we are flat. We are still interested in gold but will wait to see if we get any bounces to establish a new position (smaller). If the "go or no go" area fails to hold we will most likely see more downside.
Go back and look at our recent GC1! charts and see how this set up and how we managed it. Not all trades work to final targets but this did and it is a good lesson.
"Looking good Billy Ray"GC is still working well for us. We like this trade and are still holding for the "Go or No Go" area. We have dropped our stop another level. We are trailing until we get our level or we get stopped. Either way it's important to manage your trades.
Take some and trailWe hit our 1st target during the globex session before a large bounce. We have pulled stops down and will look for a test of the "go or no go" area.
