If a divergence is the strongest signal in technical analysis, why wouldn't a failed divergence be as strong, but in the opposite direction? I have been holding a long position in gold for one month, and yesterday I got stoped out. I immediately reversed my position, got stoped at 1264 and went short at 1265. I have a long term bullish bias in gold, so at 1200 I...
As I noted when I first posted this chart mid April, the 1275 level is a key support for gold. Today that support was busted. Unless bulls can rally gold back over 1275 and close a weekly candle over that figure gold will likely probe last years lows ~1200. My gut tells me that level will not hold (triple bottoms are not usually good lows) and 1050 then 950 comes...
Goldilocks is off and running. Per our past posts we had been leaning long but we exited all positions because this coil was getting tighter. The bears won this battle and we are short. We are expecting a fairly large move so we will trim and trail on the way down. One key to successful trading is to push the trade as far as you can. It's hard to do but most...
This bad girl (Goldilocks) is getting ready to fly. Per our past posts we had been leaning long and carried a small position for the last 2 weeks. We have exited that position because this coil is getting tighter. We are expecting her to explode soon and we expect a large move. We are watching for a trigger on a lower time frame and will join in when a level...
Gold bull market could resume SOON. Support proven at 1275.0. Price structure is interesting (price coiling). Funds could start adding long positions at this point. Entering at breakout soon (Monday 19 May 2014?)
OK...we have tested the break out area and are trying to move higher. If you pull up a weekly chart you will see that we are coiling and like CL1! it could get whippy. These are tough markets to navigate...either use small size or BE PATIENT. We are long GC1! with small size.
This chart shows the year to date performance of gold vs gold stocks. We see that gold stocks of all kinds have outperformed gold itself. GDX is an ETF of larger, more established miners; GDXJ is an ETF is an ETF of junior miners. RGLD, SAND, and FNV are royalty stocks, which are basically firms that invest in other mines in exchange for a share of their output....
Gold bull market could resume here. Support proven at 1275.0. Price structure is interesting. Funds could start adding long positions at this point. Short and medium term targets on the chart.
My long term view on gold is bullish, check ou the chart at the linked ideas.
Finding a good place to go long is key, and I believe today it is a very good spot to do just that. Corrective double bottom with bullish divergences on all three oscillators, and a false breakout below the local support.
I allready made a partial entry last night, but I want to see...
I believe Gold is going to go through the roof in the coming months. Anywhere over 1180 I will be a strong believer in gold. Under this level, I will still look for longs as long as we stay in the drawn rectangle, but of course, I will be more cautious.
This is a corrective double bottom, or at least that's how it looks till now. Corrective double bottoms usually...
Inside day with decreasing volume in this double bottom scenario around 1,277 area, that needs to hold.
Momentum is diverging, but price needs a close above Gann 3/1 and 50 fib to prove it wants higher.
In such a case, and if 1295 falls, we might see "13" again in front of price, and some bullish pressure will be created. Short covering is not enough to drive...
I'm not actually shorting gold here, as a I'm a long-term bull, but technically, we did see a failure at the 200 EMA. If support at 1280 doesn't hold, this could confirm a pattern of lower highs and pave the way for a re-test of major lows at 1180. Though given my bullishness I'm more interested in looking for signs of bottoming and corresponding buying...
I'm a long-term bull on gold who anticipates gold's price rising to at least $5,000 -- an estimate I regard as very conservative -- and so I am happy to continue accumulating at well-established support levels. I believe the recent lows of $1180 reached at the end of 2013 constitute a major support level, the recent highs of around $1380 established in mid-March...
Just how my eyes are seeing this. For me the short term pattern looks bearish with an inverted cup with handle pattern. Also there is a confluence of down trend line resistance as well as Head / Shoulder neckline extension resistance.
Above 1360 this looks more bullish, below 1275 and gold could crash back to for another retest of the 1200 round number.
Gold should eventually go up to the top (gold line) which should take it up into the $5000 area. This does not bode well for the debt structures of government, as Martin Armstrong has argued, it is a loss in confidence of government that will cause gold to surge. Whether gold goes down to the red line (1980 high) before its 5th wave rally is uncertain at this...
update on previous chart, this chart has nice symmetry, stockcharts.com's pnf is projecting 1440 now, a summer rally should go up and test the crash gaps from last spring. After this summer Gold will most likely start down again going into Martin Armstrong's pi cycle peak of 2015.75 , Armstrong is looking for 800-1000 area before the final bottom and then at...
Gold has shown tremendous strength so far in 2014. After breaking two significant resistance lines going back as far as 2012, gold has run up over 13% since the final days of 2013.
And with the global monetary system printing over 10 Trillion since 2006, the long term price of gold is certain to continue rising long term. However, for the short term ahead...
