Interesting fractal from 2007-2008 may be repeating itself on the larger 10 year chart. If so, GLD should be poised to drop sharply into 2014 and bottom at the $100 range before beginning another multi year bull market run.
RUBY shows very clearly that Gold was in a sustained downward trend from long ago!
As we run through some names, the closest Ruby will come in on time is the fifteen minute. You can forgive us later for not showing you the stellar happenings closer in, but for now this is as close as we should get. Sincerely, Beauty
Three New Targets printed based on Great White Pattern completion: TG-1 = 134.68 TG-2 = 154.24 TG-3 = 178.96 David Alcindor Head Trader 4xQuad, LLC Denver, Colorado USA
This morning, the SPDR Gold Shares (NYSEARCA:GLD), and the Market Vectors Gold Miners ETF (NYSEARCA:GDX) are both rallying higher after a disappointing job report. The U.S. Dollar Index futures (DX Z3) are also weaker today trading lower by 0.40 cents to $79.34 per contract. Usually, a weaker U.S. Dollar will help to lift gold and the gold related...
Pattern forming with Gold is very symmetrical and until proven wrong gives me a very clear W in the making for a major reversal in Gold. Let's wait for confirmation and then make tons of it.
I would suggest long term buy and short term oportunities to sell at 130 $ and buy around when the spot goes under -8%. To remember that due to us problems gold may go up and also china demand may get better.
Technical indicators are bearish but we can see that MACD is getting a turnover blue line is heading top and orange line going down, we see an head and shoulders pattern - A review by a 15 years old beginner trader
As seen by many on StockTwits, for tomorrow we have this beautiful pattern to trade. (You can see a better pattern on $GC_F)
GLD continues to break trend lines, establish new "up trends" and then catch the shorts off guard when it breaks down again. I expect GLD to fail at its downward trend line once again, then down to test a significant swing point low at $123.55. From there whats stopping it from retesting $115 ?
But the $VIX is up more than 5, We should BUY, Winthorp, BUY, BUY BUY....
Gold setting up for leg down. Target is 108-110 Indicators show divergence
Interesting set up, could go either way but I am leaning towards calling this a lower high.