I closed larger shorts at 1327 to now scalp to see if this was the bottom and we go up or we continue down to 1320, 1308, 1300... Trading with minis until confirmation
Watching this range in this maybe of a flag pattern. Let's see how it continues to play out. So far, the bear sentiment hasn't made any real impact here. I'm holding longs from 1255, 1333, 1355, and 1366 looking so I can ride out the movements like today's pullback. Don't get trapped too early by buying the movement, buy the bottoms here. Ranging is funky so...
Gold seems to be headed for the two targets on chart, to be reached before September 23rd. This seems to match my outlook for equities, which appear to be heading back down to the yearly lows, as depicted by Tim West's yearly forecast, of a sideways market. We can fade the sentiment extremes once reached, which is the ideal trading strategy for the rest of the...
...the Centerline of course ;-) P! Yes, it's so easy, if you know how to apply the tools the right way. Learn To Earn:
As I had explained in my previous post, it was likely to see an 'emotional high' in these instruments, followed by a sharp decline. After this break down, all these instruments are at a major support level once again, and in sync too. Notes: I'd get out of shorts here and maybe flip long in a few days. Gold: It might have some more room to fall, but if it...
This is a simple analytic piece on Gold, Bonds and Bitcoin. After the Fed meeting yesterday, the market clearly decided the fears of low rates and weak dollar were justified, with a very dovish Fed, and gold and 10 year notes rallied (and quickly chinese buyers followed suit in BTC). The interesting part is that gold has yet again broken the recent highs, which...
COMEX:GC1! The gold market is saturated by six days, be wary not to lose short timing with higher profit
Gold bounced off of the support area for now Light volume during recent bounce indicates this is a retracement in the downtrend --> I threw in some Fibs to indicate where overhead resistance lies. Resistance at: - 7 day MA (currently there); a break would suggest the 20 day MA or the 38% FIb as target (1240ish) - 23% Fib at 1224, 38% Fib at 1240 Overall: the...
Expecting a breather as gold seems quite oversold. Look for overall sideways action for the next 5 to 10 trading days On a weekly basis, 1200 level marks the middle BBands, hence expecting some support to come in. Should we break 1200, downside targets of 1120, 110 as well as old lows at 1060 IMHO selling put spreads for the time being might be good to take...
On gold, we are inside of a monthly (1238.23-1205.49) and weekly (1243.13-1205.49) demand zones. There is also a daily supply zone formed just above us but this zone working out is low probability. We have 2 alternatives that may happen here; 1- Red: We may go to lower timeframes and look for good buying opportunities right now and ride the price till daily supply...
Since it is very low on the altitude for shorts, we should just look for a quick 1:1, not more. This trade is an aggressive one twitter.com tradewithcan.blogspot.com.tr
Short Gold GCM6 1286 | SL 1294 | Target 1186
We can go long now, and aim for 1365 and 1462.45. The weekly hasn't confirmed yet but I anticipate confirmation by next week. Stops should be below 1235, give it some breathing room! Rgmov is plotting fresh new highs, a sign of strength, and we're sitting above the uptrend mode, so it's logical to expect continuation. Notice how price held support at the options...
This ratio gives very timely signals as to when to more optimally switch between risk on or risk off biases. It's clear that we can long gold, bonds and yen now, I'd be careful with equities, at least not going long indexes, or looking for shorts in weaker securities would be my favored approach. I have booked profits on a few profitable long trades, and...