chartwatchers

chartwatchers

The Commitment of Traders report (COT) was published at the close of last Friday's trade always shows the Tuesday 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 . It supports GOLD's RALLY we had last weeks. Gold's bear market rally...

chartwatchers

On the 4HRS chart MACD is turning down and crossing soon. It's a strong sell signal. The daily cycle is supporting us: we have 5-7 days to find the daily cycle low. The possible take profit levels are at the 20EMA, 50EMA, 100EMA. Even if you are just a daytrader this setup is very good. We must come down to the 20EMA.

chartwatchers

Commercials like to unload their positions at the breakouts. Small speculators are entering into positions at the breakouts and stopping out during the pullback. Most probably this thing is happening here when gold broke above the october high and price tagged 1200. In the last 3 hours of gold trading price dropped more than 10$... We should come down into the...

chartwatchers

The last daily cycle length was 19 days. We are now on day 16. At the beginning of next week bears will try to take control in gold. Gold will move down to its daily cycle low. Friday on the daily chart we had a powerful Bollinger Band crash signal. Bear is over ? Possible. Open the position at this daily cycle low. Not the top.

chartwatchers

Everybody is talking about the possible bear market end in gold. But how many times were we toasted in the last 4 years???? We are in the 2nd daily cycle of an intermediate correction. (Day16) Gold daily cycle usually lasts for 20-25 days. in the following week we should start to move down to the daily cycle low. This bear market rally is very powerful, maybe the...

chartwatchers

GOLD is getting very interesting. A daily cycle usually lasts for 20-28 days. Tomorrow is day 15. Tomorrow we will reach the 300 EMA at 1152. Gold should top there and start to move into its daily cycle low in the following 5-10 days. The 2 options are: 1. if the move down to the daily cycle low is slow with small candles we just test back the intermediate trend...

chartwatchers

While stock market is falling GOLD will break the upper leg of the channel during the overbought conditions. Lot of traders are waiting for the test of the lower leg of this channel. It's a possibility but the risk is high that bears will be punished for earning so much money in this bear market. We are very late in this bear market now.

chartwatchers

Target: daily chart 300 EMA : 1150-1153

chartwatchers

Gold is breaking out of the flag. It will start to test the 1110 level. I'm waiting for a breakout above 1110 on Friday.

chartwatchers

The Commitment of Traders report (COT) was published at the close of last Friday's trade it always shows the Tuesday 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. It supports the breakout from the triangle pattern , and the testback of...