Randgold - GOLD - Daily - Time at Mode Buy Signal Today

693 7 8
GOLD             climbed above the 7-day mode and spent an entire session holding above what is now key support. The upside target is for a repeat of the trading action around the mode, which provides a target as shown on the chart near the $76 level from $69 last.

An interesting note to see that GOLD             is now ABOVE the last 5-times that GOLD             had higher volume and an increased trading range and a downward price move. This is encouraging for long positions as it indicates the strongest sellers are no longer in control of GOLD             up here. Note also that GOLD             is solidly profitable with strong margins and low financial risk (low debt).

GOLD             is also above its KEY HIDDEN LEVEL - QUARTERLY earnings level, which provides more confirmation of support underlying the shares.

It is fine to buy dips down to the key levels down below and place your stop 3 ATR's from 69 using the 11-day Average True Range .
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
2 years ago
Waiting on your update for gold itself ;) i already have at a buy actually. But some more upside is being awaited
timwest PRO 2use
2 years ago
I didn't see your question - sorry - Gold itself is also tracing out a bottom. Just waiting for year-end next to really get it going in the first quarter. Whoever still holds gold in their portfolio by now is most likely capable of holding it for a long time. Anyone scared of having gold in their portfolio at a year-end portfolio review has already sold, in my opinion. That's why year-end's are the most logical time for bottoms in declining markets from what I've seen trading/investing for 28 years.
+1 Reply
2use timwest
2 years ago
Thanx for the experience share. Noted!
2 years ago
where does it shows from 1162 point?
timwest PRO donrj
2 years ago
Could you re-phrase the question? I don't understand your question.
IvanLabrie PRO
2 years ago
Looking good, back to high usage area.
timwest PRO IvanLabrie
2 years ago
The 7-day signal expired, but I failed to follow up and point out the "exit" signal. I hope everyone understands what a "7-day buy signal" means... that it lasts for 7 days. So, to be more clear next time I'll put the 7-day exit arrow on the chart. Cheers. Thanks Ivan.
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