GoldBands

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GC1! 62% | 20 GCZ 18% | 6 AAPL 15% | 5 STZ 3% | 1
GoldBands GoldBands PRO GC1!, D, 2 months ago
GC1!: Which Way will Gold Go?
40 0 0
GC1!, D
Which Way will Gold Go?
Hello Traders, This is a mid-morning update. Following Gold's failure to close yesterday above the previous day's high, and today's failure to hold above the 1267 price level, I closed my Gold position that I had opened last week. While it would be very unusual for price not to at least touch the midpoint on the ...
GoldBands GoldBands PRO GC1!, D, Long , 2 months ago
GC1!: Gold Continues its Bullish Ascent
43 0 0
GC1!, D Long
Gold Continues its Bullish Ascent
Good Evening Traders! Today was another positive move up for Gold as the precious metal closed the day at 1269.9, up 6 points from the opening. Great news for our long Gold trade, for sure! Equally encouraging is that the Stoch RSI has finally broken above the 20 line, confirming the upward trend. The midline on ...
GoldBands GoldBands PRO GC1!, D, Long , 2 months ago
GC1!: Gold At Potential BreakOut Level
54 0 1
GC1!, D Long
Gold At Potential BreakOut Level
Good Evening Traders, It's always nice to have a solid move after an inside bar and that's exactly what we got today with Gold. Gold closed the day up 6.3 points to close out at 1262.9. After trading sideways for 7 days, including that inside day yesterday, the precious metal was able to finally push up past the ...
GoldBands GoldBands PRO GCZ2016, D, Long , 2 months ago
GCZ2016: An Inside Day for Gold
18 0 1
GCZ2016, D Long
An Inside Day for Gold
Good Evening Traders! Another lackluster day for Gold, that's for sure! Gold traded up to a high of 1258.2 but that was not enough to break last Friday's high, showing that Gold remains extremely range bound. On the positive side, the Stoch RSI continued to make its way toward the 20 line, giving the bulls hope ...
GoldBands GoldBands PRO GCZ2016, D, 2 months ago
GCZ2016: Gold Holding at the 38% Fib
13 0 1
GCZ2016, D
Gold Holding at the 38% Fib
Hello Traders! Gold prices have maintained a steady state at the 38% fib retracement level. That fib is drawn from the low of 12/15/2015 @ 1056 to the high of the year at 1383. Steaming from the big selloff two weeks ago, the Stoch RSI has had time to stabilize and may be ready to move above the 20 line. Could ...
GoldBands GoldBands PRO GC1!, D, Short , 2 months ago
GC1!: NFP - How Will Gold React to Non Farm Payroll?
88 0 2
GC1!, D Short
NFP - How Will Gold React to Non Farm Payroll?
Good Evening Traders! Well, here we are again, Gold trading just above the 1250 mark. Today was a solid day down, with Gold trading 16.7 points off the opening to close at 1253. We have come right to the top of this support area that was last seen on June 24, the day the British approved Brexit, and the day when ...
GoldBands GoldBands PRO GC1!, D, Short , 2 months ago
GC1!: Today's Doji after Yesterday's Extreme Move Down.
65 0 3
GC1!, D Short
Today's Doji after Yesterday's Extreme Move Down.
Good Evening Traders! Well, after yesterday's explosive move down, it's not surprising that Gold took a pause today. With a total range of 15.3 points, the net down move today was 1.9 points. I did take a new short position early in the morning and I'll get to that later in this post. I'm expecting volatility to ...
GoldBands GoldBands PRO GC1!, D, 2 months ago
GC1!: Gold Blasts Through All Major Support Lines
40 0 2
GC1!, D
Gold Blasts Through All Major Support Lines
Good Evening Traders! I've been calling for the bottom of the current cycle and last night I pointed out that there was major support below my current Gold short @ 1305. There was the upward trend line dating back from January, the channel bottom from July 1, and the bottom BB Band (2.0 Std Dev), all sitting right ...
GoldBands GoldBands PRO GC1!, D, 2 months ago
GC1!: Using Multiple Timeframes to Enter a Trade
52 2 2
GC1!, D
Using Multiple Timeframes to Enter a Trade
Hello Traders! As many of you know, I use the Stoch RSI as my main cycle indicator. As an indicator of an indicator, it normalizes the RSI indicator itself and provides excellent guidance on the price cycles of Gold. And while I base my daily analysis on the Daily time frame, I use 2 shorter time frames to enter ...
GoldBands GoldBands PRO GC1!, D, Short , 2 months ago
GC1!: Gold Tests Bottom of Wedge
37 0 1
GC1!, D Short
Gold Tests Bottom of Wedge
Good Evening Traders! Gold fell again today, down a little over 8 points from the open. Price tested the bottom of the short term wedge, the dotted magenta line on the chart and now appears poised to hit the major support area around 1305 in the next day or two. This is confirmed by the Stoch RSI which has also ...
GoldBands GoldBands PRO GC1!, D, Short , 2 months ago
GC1!: Gold Continues to Move Down and Closer to Major Support
31 0 1
GC1!, D Short
Gold Continues to Move Down and Closer to Major Support
Hello Traders! Friday's price action was very favorable for our existing short position and price moved off the long standing support trendline (magenta line) and further away from the BB midline. If you remember what I said earlier last week, the downward cycle as shown by the Stoch RSI still needed more time to ...
GoldBands GoldBands PRO GC1!, D, Short , 2 months ago
GC1!: Gold Breaks Support Line but Ends Day Back Above It
41 0 2
GC1!, D Short
Gold Breaks Support Line but Ends Day Back Above It
Good Evening Traders! Early morning trading saw Gold break through the long acting support trend line from January, 2016 but then pop back up to end the day above it. The move down was enough though to hit my first profit target @ 1320 where I took off half my position for a nice profit of 11+ points. It is ...
GoldBands GoldBands PRO GC1!, D, Short , 2 months ago
GC1!: Gold  Hitting Support - Will it Bounce or Break Through?
49 0 2
GC1!, D Short
Gold Hitting Support - Will it Bounce or Break Through?
Good Evening Traders! Our Gold short trade made progress today. Unfortunately, it ran into the long running upward support line (the solid magenta line) at the low of the day @ 1321.1. Price then rebounded right up to the BB midline in early evening trading. It has since come back down as I write this. If price ...
GoldBands GoldBands PRO GC1!, D, Short , 2 months ago
GC1!: Gold Fails to Extend Higher
35 0 1
GC1!, D Short
Gold Fails to Extend Higher
Good Morning Traders, The last 3 days saw 3 dojis (red highlighted rectangle) and failed to break the long down sloping channel top that dates back to July 1, 2016. If you remember from my post last Friday, I was concerned about the big gap from the day after the FOMC and that it would need to get filled before ...
GoldBands GoldBands PRO GC1!, D, Long , 2 months ago
GC1!: Gold Moves Up after FOMC
45 0 1
GC1!, D Long
Gold Moves Up after FOMC
Good Evening Traders! Janet Yellen and the FOMC delivered good news for Gold bulls today and tabled a September rate increase just as everyone predicted. As a result, the US $ declined and stocks and Gold advanced. This was good but not great for our long Gold position. Given that we have been trading in this ...
GoldBands GoldBands PRO GC1!, D, 2 months ago
GC1!: Gold and $ Correlation
26 0 0
GC1!, D
Gold and $ Correlation
In preparation of the FOMC meeting on Wednesday, I thought it would be instructive to compare Gold vs.the US Dollar ICEUSA:DX1!. Gold is the brighter candles and $ is the dark candles. While there are some periods where they move in the same direction, the majority of time there is an inverse relationship.
GoldBands GoldBands PRO GC1!, D, Long , 2 months ago
GC1!: Gold - Long on Potential Head and Shoulders
29 0 0
GC1!, D Long
Gold - Long on Potential Head and Shoulders
Good evening traders! As you all know, I was short from 1341.8 and looking for price to hit my target of 1305 1.64% . Well, Sunday night's price action was aggressive to the up side and I decided to close my trade and take my profits for a solid 23.1 points. At the same time, I began building my long position, ...
GoldBands GoldBands PRO GCZ2016, D, Short , 2 months ago
GCZ2016: Gold - The Week in Review - 9/16/2016
31 0 0
GCZ2016, D Short
Gold - The Week in Review - 9/16/2016
Hello Traders! Thanks for joining me for this edition of Gold - The Week in Review. Last week we initiated a Gold short on Thursday @ 1341.8 and price moved down for the rest of the week. In fact, Friday's candle crossed and closed solidly below the midline of the range. Monday continued the bearish movement as ...
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