We are avoiding Crude. It's in the middle of the range and there is NO edge. It's coin flip in this area. We will revisit when she perks up.
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.
Crude made a quick move and got new longs stuck which fueled the sell off. We triggered long this morning and got stopped for 50 ticks which is a win in our book. We learned long ago that a stop is the beginning of a story. This story is telling us that there may be more downside. We are technically back in the consolidation area and we are sitting on our...
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
We were taken out of our Crude trade today as crude had a large down day. This is why we use stops and proactively manage the trade. This is also telling us it's time to reassess. Crude is NOT broken technically and we still like the upside and will look for triggers long but now we will keep a tight leash on new trades. So what is the take away...manage your...
WEEKLY CHART - Keep your eye on the Euro. We are getting closer to a break. If the break has legs then it could run for a few weeks.
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!
As we mentioned on Friday Crude has acted well. We waited for this trade and it was a nice gift. WE ENCOURAGE you to review our chart setups. You will notice we don't take trades everyday. Trading is about stalking your trades not forcing trades. The BIG money is made on BIG moves. There will be plenty of moves throughout the year so be patient for them. ...
#2 is in the bag and we will push this trade as long a we can. Ideally we want to see the 200 Day EMA at around 56. This is a long way away but if this move is for real we should be able to stay with the trade. As price moves we will adjust stops to follow. We like what we see with the whole energy complex. Stay tuned.
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 is struggling to break out. This trade doesn't look good for us. Regardless, we still like Goldie to the upside. Stay tuned
More follow through for crude today. We pulled stops up a bit to lock in more profits. Price kissed the August highs and pulled back a bit. However, crude is still strong and is being supported by the energy sector. We expect price to blow through the August highs an continue on to the 52 - 53 area.
And the long side is the winner. Crude triggered a few minutes after the RTH open this morning. If you missed this opportunity you were sleeping. There was 25 days of prep time. She moved far enough to give us our first target. Stops are now at entry at $46.71. Tomorrow we have the Petroleum report so we don't want to puke out a good trade. We are hoping...
Lots of great charts setting up...Keep your eye on the Euro. She is cooking and oven is getting hot. This 8 month consolidation will find a direction and it will move.
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.