Whippy stuff. We got short (from a smaller time frame) in the consolidation with a tight stop. As we broke out we were able to take some off the table...but the buyers stepped in and ran it back into the consolidation and took us out of the trade. Not a a great trade considering it is still falling. But no damage was done. LESSON: Know you trade!! We like...
Winner winner Chicken dinner! GC1! hit our last target and we are flat. We are still interested in gold but will wait to see if we get any bounces to establish a new position (smaller). If the "go or no go" area fails to hold we will most likely see more downside. Go back and look at our recent GC1! charts and see how this set up and how we managed it. ...
GC is still working well for us. We like this trade and are still holding for the "Go or No Go" area. We have dropped our stop another level. We are trailing until we get our level or we get stopped. Either way it's important to manage your trades.
We hit our 1st target during the globex session before a large bounce. We have pulled stops down and will look for a test of the "go or no go" area.
Getting closer to our first target. We think we will get it during the globex session or during the morning Friday. Our stops will be pulled down after we get our 1st target. Trim and trail.
And we are short. We will trim some and trail a stop with a "go or no go" target around the 1240 area.
GC is getting close. We are watching for an entry. If we get the entry we will look for a test of the most recent low.
As we mentioned...there isn't a lot to do with Gold (GC). It getting close so we are keeping a close eye on this for a big break. No position at this time.
Flip a quarter...it's getting whippy in the middle which means we are getting close to a direction. We are keeping a close eye on this for a big break. No position at this time.
JNUG has been in an ascending price channel since near the beginning of June. As of 7-23-14 12CST, it is nearing the bottom of that channel. Currently indicators such as EIS, PSO, BB Impulse, MACD (see indicators underneath price chart) indicate downward price momentum. However, there are some indications that some of the indicators could reverse. Should the...
When you look at ALTERNATIVES to the S&P500 for the last 10-years, these were two of them. Look at how well they have done. Haven't you heard enough trash-talking about China and Gold? Isn't it amazing that we forget how well these markets have performed RELATIVE TO the S&P500? The S&P500 is up 80% in 10 years (excluding dividends of roughly 2% on average). ...
Hello all, While I am really not surprised, it would seem one of our WDB options setups is looking technically quite bullish at the moment. To that end I thought as apposed to just updating the original post I would take the time to review the trade in earnest and publish a new one. The notes you see on the chart are the same from the original post. I did that on...
And we are flat! As suspected the FOMC news would create a lot of volatility. We will keep watching GC1! to see if anything else sets up. However, this is a great example of how it's important to manage your trade. DON'T get married to any one trade. There will be plenty more in the future.
We are still hanging onto our shorts here in GC1!. We would like to see a test of the recent lows. We are in a "free" trade and will tighten the stops further due to FOMC, Yellen speaking and issues in the Middle East. WHile we beleive we could test the 1180 area this year we don't trade on what we think....we trade on what the chart tells us. Trade well!
We are still short GC1!...however, we didn't add to our shorts. While we expected a move back to the breakdown area the buying has been very heavy so we will keep stops in and see if we can't test the most recent lows. With a conflict happening in Iraq, FOMC meeting and Aunt Janet speaking this week we could see swift moves which could take us out. If that...
We are still short GC1! with one target under our belt and stops moved to reduce risk. We are expecting a another leg down. Study the posts on GC1! we placed. We see this type of pattern in a lot of markets and they can pay you big. You have to stay patient...check your emotions at the door and trade your plan.
Goldilocks is off and running. Per our past posts we had been leaning long but we exited all positions because this coil was getting tighter. The bears won this battle and we are short. We are expecting a fairly large move so we will trim and trail on the way down. One key to successful trading is to push the trade as far as you can. It's hard to do but most...
Finishing a harmonic ABCD move at structural resistance seems to be in the cards. The structural support and trend lines comes in between the 78.6 & 88,6 fib ...Could be making a hammer here going for the lowest fib and bounce!?! Safe trading Ladies and Gents! @BLawrence (I have often a quicker running updates on my Twitter account) Music at...