vlad.adrian
Long

Gold - 1300 closer than 1000

COMEX:GC1!   GOLD FUTURES
562 11 12
It looks like Gold             made a major bottom. That is great, but fundamentally, Gold             is under a lot of pressure, so I believe that all we'll get is a small rally. If I am wrong, and the rally will be stronger, 1400$ is the next strong resistance.

On the chart, we have divergences on the MACD lines, histogram and Force Index . They all point to higher prices, but they have been pointing to higher prices at the beginning of the year also. They did rally, but not enough to signal a trend change.
Look at the anatomy of the current leg down. It took much more time to complete. Long legs are not very bullish , but the divergence is still there, so it is still bullish .

For the coming months I expect to see Gold             priced higher. For the next couple of weeks, I would love to see a daily re-test of 1177 - 1200$. I would take a position over there.
Hello, where can I do some further reading on your indicator placed at the bottom? Thank you.
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vlad.adrian PRO TomProTrader
which one? Force Index or Weis Wave?
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TomProTrader PRO vlad.adrian
The one under the Weis Wave?
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vlad.adrian PRO TomProTrader
Oh impulse system. You can find articles on google, or read Dr. Elder's book 'Entries and exits'. He explains there how he uses it.
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TomProTrader PRO vlad.adrian
Thanks a lot :)
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Yep. Expecting E to end around 1270/1320

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thank you
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Sentiment/Fear indicartors are in extreme pessimist territory. We could see a short term rally. http://postimg.org/image/5ocsriqh9/ USD has climbed too much to quikly.
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OMBS OMBS
Still I'm waiting for the magic ratio GDX/GLD to conifrm with a breakout http://scharts.co/1vYRdOc
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Very nice indicator! Where do you get it from?
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