chartwatchers

chartwatchers

These are the possibilities we are having in the energy sector now... +50-60% in one day. One is waiting for 5-6 years for this kind of profit.

chartwatchers

I think it's a good long possibility to go long in gold at the pennant breakout. Stop goes inside the pennant. We shouldn't break inside the pennant significantly.

chartwatchers

A breakout and a follow through. +4,67% today. In the following days we could test back the breakout at 20.00. especially if oil doesn't break out and prints an inverse head & shoulders... If oil breaks out we just slice through the gap.

chartwatchers

I'm looking for a 80-90% pop in this share based on the rally what is happening in the energy sector. It was 36$ in 2015 summer. 1 $ pop is not a big deal if oil finally breaks out. If oil starts to rally to 40$ we might test 2.57$. That would be 400%. Sounds good , isn't that?

chartwatchers

With a tight stop I will sell short in gold to tag EMA 200 again. A key reversal candle is forming on the hourly at the trendline. I think noone can tell now what will happen in gold. Looks like it wants to break out from the pennant soon, but we might get a curveball and it goes down one more time to the lower leg of the pennant or at least to the 300 EMA. And...

chartwatchers

ERX (The fund seeks daily investment results of 300% of the performance of the Energy Select Sector Index .) broke out today. The fund had its biggest rally today since 11.16.2015. The breakout has a good volume. ERX had a higher low when oil was printing a lower low on 02.11. So the energy shares were pricing that oil is bottoming soon. Based on this oil will...

chartwatchers

Oil is doing what I was waiting for.: It's climbing higher and higher. If we can hold above 34.60-34.70 this week then oil will print a double bottom with a breakout. We have a MACD cross with a divergence of the weekly RSI. The trendline is broken... Technical traders will be buying from tomorrow. I would like to see a larger volume than last week or at least...

chartwatchers Updated 

I give one more chance for gold to come down to the lower leg of the triangle. The upper leg was tested this night. MACD had crossed over. Stocks are up. Dollar is still heading down today. Because I don't want to lose on this one - and I'M not sure we can come down to the triangle lower leg - I'll take profit on the half of the position at the 200 EMA (1225.61)...

chartwatchers

Yesterday ERX (This fund seeks daily investment results of 300% of the performance of the Energy Select Sector Index.) was down -2.75% while oil was up. I think there was an artificial move in the oil shares yestersay, so possibly BigMoney was positioning yesterday in oil shares while small investors were selling. They just simply pushed down the price and small...

chartwatchers

Just a short thought. The dollar is getting stronger , but gold simply cannot fall even with the strengthening dollar. If gold cannot fall in these conditions into the DCL (today or tomorrow the latest) then I say we are going to break up from the pennant.

chartwatchers

Lot of traders got nervous last week Friday because oil moved down from that important resistance zone at 34.78. For me it's still trending up. We didn't break the trendline, 4hrs chart 10 & 20 EMA didn't cross over. It's still a bottoming process to me. We will take out that 34.78 level soon and price wil move fast to 40. We just have to sit in the position ,...

chartwatchers

I will give one more try to a gold short this night. Selling short at the hourly 10 EMA. (1223) Stop goes to 1227. Target : 1179.6 (Daily chart Fibonacci 38,2%) - but I might take profit at the hourly 500 EMA (1192 today)

chartwatchers

That's why I was nervous regarding GOLD's COT... Silver's blees rating was at 0 last week Tuesday... These happenings are important for gold also. Silver is late in its daily cycle and moving down into its DCL : A. It might be producing a Bollinger band crash signal at 14.3 testing back the breakout and then turning up and making a higher high B. or already...

chartwatchers

I'm looking forward to see a bollinger Band crash signal like at the last daily cycle low on 01.06. So I'm waiting for toi break below 1.0875 and I will add to my opened EurUsd short. I think they are playing out the techical traders who will sell into the breakdown from the channel. We are very late in this daily cycle. The daily cycle should come any day...

chartwatchers

I updated the my COT chart in gold. It looks a bit complicated , but I tried to put every important thing on one chart. IT'S VERY DANGEROUS TO BE HAVILY INVESTED IN GOLD , BECAUSE PRICE CAN GO TO BOTH DIRECTION! Let's see from point to point: 1. We are still in the pennant . On 24.02. I thought we broke out but the price was slammed back from 1251. With 284.003...

chartwatchers Updated 

As I posted I see internal weakness in gold. The junior bull needs some rest now. Hourly chart 10-20 EMA is crossing over , I will try sell short if price tags the 50 EMA (1234.5 ) and 10 EMA (1234). I will sell 50% of the planned short position at 1233.5 and 50% at 1234.5. Target price is at the hourly 300 EMA (1210). Stop at 1243.5. We have lower highs since...

chartwatchers

I feel weakness here. Gold had broken out of the pennant and gave us only a few hours of rally. Commercials have around 300.000 short positions by now. I was waiting for those shorts to be covered at the breakout. But nothing happened.... Commercials are still short in gold.

chartwatchers

I just noticed how similar is the present situation in oil to the 04.06.2015 situation... We have a beartrap : a lot of people shorted oil in the breakdown on 02.11.2016... I want to see their short squeeze tomorrow or Monday when we break above 34.52... That short squeeze will push price to the 100 EMA and to the 200 EMA. I think this daily cycle will top at...