Goldie is relentless to the downside and we are taking the Trigger Zone off. She has gone to far and now a snap back is possible. So we will wait to see if there a bounce before we setup a short trade for another leg down. We think Goldie is headed to $1,000 before shorts cover their positions. Stay tuned.
We still like Goldie on the short side but we need a bounce to get involved. We will wait but it is not looking good for us. In an ideal world we would get the bounce to our zone then take out the July lows and touch $1,000. But we know the markets are anything but ideal. Keep on your watch list.
This is why you take your stops in Gold and smile. When Goldie gets running, she is a freight train going down hill. Gold has been taking stops and eating the gold bugs for lunch (and dinner). This market is clearly weak. We are wanting to get positioned short on bounces. We will be looking for the Trigger Zone on the weekly chart. If Goldie takes out the...
We were finally stopped out of our last 3rd lot Friday. Goldie was getting crazy and the volatility was to much for our stop. We will now step back after a great trade and see where the next opportunity will be. You can bet there will be more opportunities in Gold. Stay tuned
We're still holding tight but the last third is in jeopardy. We would like to see Goldie close above the 200 EMA again to give us a chance of taking out the recent highs. If we get stopped out we will look for another trigger zone.
Gold is still acting well holding above it's 200 day MA. We have pulled up our stops on our last third of our original position. We will look to cut Goldie loose if she climbs above the 1200 area. But for now we expect her rest for a few days.
Close enough for Science. Goldie has been creeping up all morning and seems to be running out of steam. We have taken our second target at 1177.5. We still think Goldie has legs but is in need of a pullback and or some rest. Our third target is open. We will keep our stop in place and adjust through the rest of the week.
Goldie is popping in Globex trading. She has taken out the August highs. We are bringing our second target closer to us. After further analysis we see a spot around the 1181 area that could slow this move down. We have also pull he stop up to lock in more profit. Run Goldie Run!
Target #1 is bagged today. Goldie held up well in to the close. She is just shy of the August highs so we expect Goldie to pull back or consolidate before making an attempt at taking out stops. If the MOMO is good then Target #2 will be realized. We like how she's acting. Stops have been pulled up to manage risk. Stay tuned
Goldie closed strong and has taken out a prior swing high. This is good news for those of us who are long. We expect her test the August highs and possibly the 2oo day EMA. Our stop is in and risk is defined. DO NOT chase at these levels. If this move is for real there will be more opportunities to enter. Trade well!
Goldie tried to run our stop but found legs. Let's see if this is the fuel for more upside. We are moving the stop up a bit. If she revisits the stop area she will most likely take us out. REMEMBER...trading is about preserving capital and managing risk!
Goldie won't be out done by crude. She is trying to bust a move. We triggered long tonight and will keep a tight stop just in case Goldie starts getting frisky. If we stop out then we will wait for a clean break and then buy the pullbacks and pauses.
NOTE: If you haven't looked at the daily chart of gold we posted...please do so before reading this further. Now that Goldie has founds legs we have two weeks of buying at the bottom which could mean they will test the upside range. The erratic behavior is an indication that one side will take control and when they do it will run. LOOK AT your weekly and...
WHAT A MOVE...The jobs number spiked Goldie. The spike took out the last days highs and also blew through our trigger zone with virtually no chance of triggering short. THIS IS WHY WE USE TRIGGERS. If not, it would have been a very quick stop. So this trade is no dead to us. We still have Goldie on the watch list. The erratic action is telling us that she is...
Holy Shizz...Goldie didn't bounce before selling off. We DID NOT get on board. However, we will short bounces. We adjusted our trigger zone a bit and will see if Goldie will throw us a bone. Why not chase it down at these levels? Goldie has teeth and will bite. ;) Never chase...you will miss some trades. Set YOUR criteria a make the market come to you. ...
After being stopped out on the long side we are back in the wedge. The fake breakout could reverse hard and squeeze the gold bugs so we will short any bounce. The failed pattern is a great pattern and one of our favorites. We also have a MONTHLY signal that fired short so we will press the short side of Goldie. Remember...NO TRIGGER, NO TRADE!
We were stopped out of our Gold position and are on the side lines. We mentioned that we had a larger time frame signal setting up and the long side was fighting that signal. We are now back in the wedge which could mean a fake break out and lower gold prices. Keep this on your watch list.