


We are in a triangle , tagging the lower trendline today.. Everybody is ready to short oil and this selling power had pushed oil price down to the bottom of the triangle in one day. But we couldn't break the the support at 45.6$. I think tomorrow we will start to head up again and this time we will break the triangle's upper trendline. This is not a topping...
I have seen a few people buying LABU 2 days ago at the exact bottom. Guys you might have bought the exact bottom of Biotech! So please don't ruin that position because I'm pretty sure we are breaking above the 100 EMA in a few days and most probably more rally is coming. 2 days ago we broke below the trendline but the selloff couldn't last for too long. We not...
After breaking out from the pennant gold had a strong rally on the hourly chart. We couldn't break below the 10 EMA for days. Yesterday night (GMT) we tested the 50 EMA on the hourly chart. A bear flag was forming. This afternoon the bear flag break out. It seemed a false breakout as price almost immediatelIy drop back into the flag. In the next hour we turned up...
Finally it was a pennant still, with a breakout yesterday. Gold is rallying against the dollar, with the stocks. I have never seen this before. I think the explanation here is the same as in the stock market. Governments are printing horrible quantity of money in these days to save their a***.... They don't care the consequences . Only the present is important...
You know I like conspiration theories. Just an interesting scenario as tomorrow it's the Independence Day in the USA. It's a unique possibility to lock out the USA brokers and traders of their gains and force them into losses in gold, gold miners and silver while they are relaxing at the beaches... We had a super bullish sentiment in gold, silver and miners last...
I'm going to use this post many times during the following month. We are getting late in this larger intermediate cycle in oil. Due to my cycle count we are going to have a correction and an intermediate cycle low in the first 2 weeks of August. It will be a great bottom a perfect buying opportunity for the rest of the year. I know most of you would like to catch...
First rule of the trade club: do not try to short the stock market. Second rule of the trade club : DO NOT TRY TO SHORT THE STOCK MARKET. Governments of the world gave us a final signal : they do not want the stock markets to collapse. If it's necessary they will print not billions or trillions , but kilions of money. These freshly printed dollars and euros are...
Today we are closing the day at the 200 MA on the weekly chart. The whole week in gold will be a story about a fight at the weekly 200 Moving Average. Today it is around 1309$. If we close below 1309$ significantly by the close of any day this week we are heading down into the daily cycle low. It means we will have a 4-8 days decline till the end of next...
After the historical decision of the Brits gold printed a terrible rally last week Friday. I wanted to wait what's happening today on the stocks market and at the precious metals . Gold seems to be holding its gains. It seems to me that we are printing a pennant pattern and as stocks are falling price might break out to the upside. The target price counted from...
So the good news that it seems we will have cheap gasoline prices this summer. The bad news that most probably we will miss the 3rd daily cycle's rally up to 55-57$. The stock market decline will drag down oil prices also in the following weeks. Now we are bouncing from the 2nd daily cycle low (46$). I think it will give just a small bounce so everybody who is...
Here we go. 10 minutes to market close. Nothing day. I was waiting for a much stronger price action in gold. We made a lower low on the hourly chart many times today but there was no follow though. Volume is a little bit above average. I want to see the daily chart first of all. We tagged the 10 EMA but price couldn' recover. We lost the 20 EMA also. These are...
I loved LABU's last 18$ run. I'm looking forward to see a 20$ run in the following weeks. A perfect entry point could come if we tag the trendline again. I'm a little bit afraid that we cannot reach the trendline so most probably I will try to reenter in LABU early next week and if we tag the trendline I will be adding to the position. RSI is in the ideal...
I've started to post an Energy / Stock / Metal Trade for the followers to trade. I will post the update in the "update status" section of the portfolio post. Starting capital is 10.000 $ in each portfolio. When I close the actual trade I will move the whole amount to the next trade - in this case it will be Energy trade X. I moved 10.000$ starting...
I will post this chart. Though I like the price action in gold this is the only thing I don't like now. It is affecting our DUST, JDST trades. The miners doesn't want to fall. GDX is just dancing on the upper trendline instead of breaking into it. The volume is decreasing so it means to me there are less and less new buyers from day to day but the shareholders are...
So again. Key reversal at a good place acts as a key reversal. The question are we heading to the DCL, ICL or maybe HCL? - I cannot answer right now. What is sure we are free falling from the Head & shoulders pattern. The purple line shows the target counted from the H&S pattern. (1241.68) I also put the FIBO : I think the 61.8% retracement is realistic....
Today morning traders could taste again what does the 411.000 commmercial short position with 0 blees and 545.357 interest means. It means that you don't want to be long at the gold market right now. I highlighted by green the zone which we have to break down to validate the head and shoulder pattern. (It's around 1277-78$) If we break it - and I'm convinced that...
The Commitment of Traders report (COT) is published at the close of every Friday's trade and it always shows the Tuesday COT data. The formula for Blees rating uses the Commercial Traders net contract holdings at the date of the current COT report. We inserted the Blees rating into the daily chart . The last Blees rating numbers (0) are showing that...
When everybody was 100% sure that we are going to the Moon with gold and by the Brexit 1400$ will be gold's price today gold printed a key reversal candlestick. We turned down exactly from the The decline was 35$. If the fundamental traders would have been right that gold is rising because of the Brexit why did we stop today? And we not just stopped but printed...