The price came back under the 121 SMA, so there's an opportunity to have wave {v} of C
Market has been trading in a corrective (b) and (c) wave these last 30 days and we are very close to a significant bottom on (c) wave that will complete a wave 2 around 2080 area. E-Mini 60Min Chart - October 23, 2016 In the above chart, we have a clear Ending-Diagonal wave (c) of 2 and we are currently at the wave iv-v of this wave (c) that might complete...
There's another pullback from the MA, so we can have wave iii of (v) soon
Hello Traders, This is a mid-morning update. Following Gold's failure to close yesterday above the previous day's high, and today's failure to hold above the 1267 price level, I closed my Gold position that I had opened last week. While it would be very unusual for price not to at least touch the midpoint on the BB, there is also a very good chance that price...
Yesterday's Short @ 52.10 produced > 60 ticks of profit. These are today's levels:- Long @ 50.60; Stop: 20 ticks, Target: 60 ticks Short @ 51.90; Stop: 20 ticks, Target: 60 ticks
Good Evening Traders! Today was another positive move up for Gold as the precious metal closed the day at 1269.9, up 6 points from the opening. Great news for our long Gold trade, for sure! Equally encouraging is that the Stoch RSI has finally broken above the 20 line, confirming the upward trend. The midline on the BB is now at 1284.5 and it would appear that...
With today's Crude Oil inventory report and tomorrow's roll-over, expect a higher level of volatility. SHORT @ 52.10; Stop: 20 ticks, Target: 60 ticks. LONG @ 50.05; Stop: 20 ticks, Target: 60 ticks.
This setup should yield a nice up move here, if we see a breakout of this range. We could enter prematurely, risking a drop under today's low, if the day turns up on Monday as well, but that would be riskier, so if you do it, only take a smaller risk position, like 0.25% exposure. Today's action accross the board points to a major turning point in the markets, so...
Wave (v) is likely going to be continued
We've got a pullback from the channel, so there's an opportunity to have wave {v} of C
Good Evening Traders, It's always nice to have a solid move after an inside bar and that's exactly what we got today with Gold. Gold closed the day up 6.3 points to close out at 1262.9. After trading sideways for 7 days, including that inside day yesterday, the precious metal was able to finally push up past the inner Bolling Band. In addition, the Stoch RSI is...
The "exhaustion" levels given are for the November futures contract which is what CL1! is currently based on. However, CLZ2016 is trading at much higher volume, so please adjust your levels accordingly if you choose to trade the December contract. Short @ 51.15 (Nov'16); Stop: 20 ticks. Target: 60 ticks. Long @ 49.50 (Nov'16); Stop: 20 ticks. Target: 60...
If a pullback from the channel happens, there'll be an opportunity to have wave {v} of C
Good Evening Traders! Another lackluster day for Gold, that's for sure! Gold traded up to a high of 1258.2 but that was not enough to break last Friday's high, showing that Gold remains extremely range bound. On the positive side, the Stoch RSI continued to make its way toward the 20 line, giving the bulls hope that a breakout is due in the next couple of days....
We've got another pullback from 233 SMA, so there's an opportunity to have a diagonal triangle in wave (v) of {iii}
Hello Traders! Gold prices have maintained a steady state at the 38% fib retracement level. That fib is drawn from the low of 12/15/2015 @ 1056 to the high of the year at 1383. Steaming from the big selloff two weeks ago, the Stoch RSI has had time to stabilize and may be ready to move above the 20 line. Could this be the beginning of the next cycle up? We...
We've got a pullback from 233 SMA and the channel's lower side, so there's an opportunity to have wave (v) of {iii}