Since my last post, my sentiment on Gold has completely changed.
I was awaiting a clear break blow the bottom trendline you can see on this chart. We did not get this - so I did not enter short. We infact got a heavy rally up from the last touch of this trendline, creating new highs and making me think Gold is back in Bull Mode.
From this area here (around the...
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Here I`m expecting a higher magnitude wave 3. It started forming after the abc correction. Will be buying on the next dip. I`ve been expecting this impulse from $1198 where I opened my first position. Going to add some to it.
Update for the previous Idea.
First of all glad that Friday I closed my sells from 1258 at 1240 because had a feeling about bounce up to 1247.
New month data came in and I notice an alternative view that we can have the first move up to 1262 as well that I pointed out in the previous chart.
My first entry is at 1247 that means 15$ DrawDown which for me is...
Gold is still Bullish. We stole some cash from him already.
Hopefully, he is not mad for that as we steal more, but not too much as we can get in Jail.
Don't know about you but I suggested to close the shorts ( Pyramid Principle ) that we had from TOP - Friday at 1240ish because we can have a bounce up to 1247, and sure enough it bounced giving a chance to...
1592 is what I look at to be reached in end November 2017.
Technical catalysts:
Catalyst 1: Exceed previous high of 1264.
Catalyst 2: Break of "bear market line" @ approx 1280.
Catalyst 3: Making higher high than 1375.
Geometric and other technical aspects are pointing to 1590-1600 as a likely target.
Fundamental catalysts:
Catalyst 1: Stock market going into...
We started to build long positions before FOMC interest rate decision and caught +/- 50$ move.
We started to build short positions from 1245-1258 and while waiting for 1225 to be hit ( hopefully ) meanwhile preparing some future plans based on the analysis I have.
Gold is accumulating bull and I do think it will enter 13xx.xx in couple weeks.
I was monitoring...
Why 1225?
Why you use softwares? The real trader never believes in machines/Softwares.
Here is the analysis without software in old school way.
Monthly base levels ( calculated with other technique that I will not get into )
1256.xx
1234.xx
Domain -12,9 drawn at 1256.xx
Domain +0,17 drawn at 1234.xx
Monthly Timing dates:
2017 March 4
y- intercept
2017 April...
Honestly, every single recalculation shows one damn bull in the background.
If pyramid works out and gold drops it will lead to heavy buying afterward.
We have possible monthly breakouts, now the 2nd one with bullish accumulation target
1277 and 1304.
If we get a drop, buy gold .
I would not be surprised to see an extended leg up now around or above previous...
Like stated before building short positions with pyramid principle.
Aiming 1225-1220.
Earlier I mentioned 1256-1259, they are not valid. At MetalCruisers we were willing to add at 1253 on Wednesday, PA was weak and Gold reach 1253 only Thursday. But since I had some input issues and got wrong data we removed 1253 short entry :( thinking that 1256-1259 is a...
This chart is for test purposes.
Since 2015 when I was in latest quant maths trading seminars in Iran I was given materials for study about Numerical continuation ( Continuation Algo )
In Numerical Continuation phase you can analyze only so-called parametric family
We have two who can be counted in this family and they are Gold and Dollar.
Since 2015 I have...
My buys from 1200ish are closed since gold finally reach our target.
Let me shake your hand we made it all together.
But gold left bearish accumulation signs earlier.
If you remember this idea:
Did gold reach at least 1225? Answer is no. Furthermore XO recalculations show stable Dollar Resistance and Gold support difference and now enters the state of...
Gold is bullish, and very bullish.
But I still want to see downside, yes I know that is what I want unfortunately market doesn't give a fifth of a half eaten brownie about what I want.
I don't suggest to sell, I do suggest to add to buys if we get the drop!
In March gold had two PV targets 1198 and 1304.
Once new month started it went down straight to 1198 deleting it from sight.
( I did not expect it to do it anyway, just stating it after deeper analysis )
I do think it can tag 1304xx during March, that would be normal based on behavior and pivotal sentiments.
Are we reaching 1247? Yes 1247 is what I feel safe...
