Since it is very low on the altitude for shorts, we should just look for a quick 1:1, not more. This trade is an aggressive one twitter.com tradewithcan.blogspot.com.tr
twitter.com Weekly Bulletin tradewithcan.blogspot.com.tr
Palladium futures are in a corrective Wave C according to my Wave counter. Broke Daily 200 MA and 200 WMA and looks like now have a clear path forward. Daily RSI may be slightly overloaded so there may be a short correction after the immediate ascending but the ending target of 680 figures looks very reachable. On fundamentals, Palladium hasn´t forwarded the Gold...
After all this huge ascending we had, it is clear that Gold is a Buy: huge sideway channel we had since some weeks ago has been broken upwards and broken well, with a solid confirmation. Now, before going any further, Gold has to correct: lot of mid-term buyers may want to take their profits. I´d expect it to correct to a Fibo 50% line as it looks like a solid...
The big direction of this ratio is obviously down, and there are only three ways this ratio can go down: 1. Silver going up and Gold going down; 2. Silver going up more than Gold going up; 3. Gold going down more than Silver going down. #3 is very unlikely and #2 is most likely. Personally, I'm long both metals.
Watch the lines. This chart tells us when to switch from bubble assets to contrarian assets.
Watch the lines. This chart tells us when to switch from bubble assets to contrarian assets.
Watch the lines. This chart can guide you if you are pursuing the strategy of being long Gold/VIX, and this ratio dropping means you are winning.
Watch the lines. This chart tells us how much/how urgently people are selling stocks to buy gold.
Watch the lines. This chart tells us how much/how urgently people are selling stocks to buy gold.
$XAUUSD was one of my winners last week with successful bearish harmonic pattern traded from 1260$ to 1230$. Now a bearish Head and Shoulders was formed with a neck line that is also the bottom of a trading channel. The price closed below the 50 SMA line and barely above the Fast SMA line. 1225$ - Key support zone Bearish scenario - Breakdown and continuation...
Watch the lines for a place to jump in.
Watch the lines for a place to jump in.
one hour chart. Wait the planetary aspect time trigger.
Watch the lines. It looks like it might be forming a several months long pennant and the two sides (pink lines) of the pennant triangle will converge by 05/31/2016. Watch the lines for decision making.