First target is hit (Thanks Swiss National Bank). We will move stops up to just under our entry. The trade is at no risk and now we will sit on our hands and see how far she can go, As we mentioned this is a weekly setup so we expect a good size move. However, what we saw from the Swiss last night can be a game changer. USE STOPS AND DON'T BE A HERO. You...
We are long $GC from 1230. We will keep stops tight at 1220. Typically we will look for an extended first target but with Mario Drahgi speaking next week we want to get some off the table early. Watch the video below for how this setup. youtu.be
Broken triangle PO, 15% lower
Gold prices broke through a long-term bearish trendline on Friday, and we saw a positive reaction in the market when this new support was tested on Monday. With the break above $1220, we may see gold rally through its December highs ($1237), which would complete a head and shoulders pattern that took form between September and December. As it stands, gold reached...
Explanation is in the chart. Idea is to watch out for GOLD to breakout (RSI) then monitor and manage.
Goldie is starting to get ripe and we are watching this very closely. Watch our video below to see how we will get involved with this trade. See how we will get involved with this trade: youtu.be
A quick update. GC is getting ripe and we expect some movement today (with NFP numbers) or early next week. This is a weekly chart signal so we will expect a nice move once it triggers. REMEMBER: NO TRIGGER, NO TRADE.
Still coiling. This is on our watch list. We will wait until it breaks and trade the first pause/pullback.
***Please note that this chart is of the Silver/Gold ratio, not the Gold/Silver ratio as is indicated on the chart. Apologies for any confusion. The Silver/Gold ratio hit a very familiar zone that is worth taking a note of before the start of 2015. While gold is still above this year's opening price (it did briefly fall below in November), silver has gotten...
The SPX/Gold ratio is currently holding below the 23.6% Fibonacci level of the period during which gold outperformed US stock markets (July 1999-September 2011). While this ratio won't tell us the direction of one market by itself, it can help identify potential inflection points. One only has to look at what markets did in January 2014 to see the arbitrage...
Wowzers...what a reversal candle. After starting another leg down the Swiss decided to pass a referendum that helped push Gold further down...but that was short lived. Someone saw the opportunity to buy and pulled a big trigger. This move stopped a bunch of people...including us. We had some off the table but were dinged for a couple of nickels. We still...
The purpose of this chart is to amuse you :-) Who can see that far into the future anyway. Past instances show that dollar breakout can last 4 to 5 years, bullish for stock, bearish for gold and interest rate, neutral for oil.
Gold is probably the most hated financial instrument among the Wall Street elite. Higher gold prices would assume that this so-called economic recovery was not as real as they thought. Given the bearish all-out attack on gold and the well-sought after $1,000 mark, gold has be resilient and rallied quite nicely. There are a few factors for gold's rally....
After a few days of back and fill trading GC broke to the upside and squeezed the weak shorts. The pop was with good volume. We are still watching for more opportunity to the downside but we could chop around for a few weeks before seeing another leg down. Remember...the Dollar has broken out of a multi year consolidation and is expected to move...
Hi Traders, GOLD (now at $1155) is performing the last rally to 1220 before resuming the very last ditch to the area around 1089. The present level of 1155 seems to be a good entry point for a short rally to 1200-1220. BTW, once the downtrend resumes, it should stop around level 1089 or end a bit lower around the area at $1043-32 that seems to be the absolute...
GC is having a nice bounce. This was needed after a large move from the last push down. We are expecting GC to rally a little further and chop until after the first of the year. Make no mistake Gold is still in sell mode with targets at 1100 and lower. Expect a good fight form the bulls on the bounce. Stay tuned.
Lets face it the manipulated paper market is causing physical gold and silver to tank. Yet there are shortages of silver and gold and all the while China, Russia and smart people are buying physical. Why the US is BK and at some point this will fly, but the wealthy know that if they force price down they get the uneducated to sell into it and they acquire on the cheap...
Hi Traders, GOLD (now at $1134) is fast approaching the predicted target around 1089. Even in the event of a breakout below this level, the yellow metal should end the downtrend above the area at $1043-32 that seems to be the absolute minimum and it's considered an unbreakable support. If it's true, this would mark the end of the line for the 38 months...