About me"It is much easier to watch a few than many." J. Livermore
For analysis I use candlestick patterns, chart patterns, indicators, cycles, sentiment.
I’m a trader on the gold market since 2004. I’m watching 5 minutes/1 hour / 4 hour / daily / weekly chart
It looks to me we had started the bottoming process in UGAZ .
Price broke below 13$ with no follow through and on August 5 we broke below 11.69$ and started to recover on the next day .
The weekly chart of NatGAS last week printed a hammer which often signs the end of the downtrend. This week we have the follow and the weekly...
Though 3 days ago the daily close was the highest close since 2013, we stopped the rally.
On the 8 hrs chart above it still seems we are just testing back the triangle but as we are on day 18 time is not working for us.
Today is day 18. I'm expecting a top on the 25-26th day. That would be on or one day ahead of FOMC....
I got a lot of messages these days...
"Sir I missed the move in silver what shall I do?"
" I'm short in silver I followed someone else, please help"
And my favorite:
" Sir can we buy silver now?"
We broke violently the multi year down trendline in the last 2 days.
Actually the above chart is a 2-day-chart because I wanted you to see how big was the...
In the previous idea I just closed the hedges a few days ago - and we are long again -
I launch a new long idea because the setup is offering a brand new long entry here.
On May 23 we had an intermediate cycle low and a daily cycle low. Before that low every time price tagged the 100 SMA it...
The triangle plays out as expected.
This time I didn't play the short side, because it's getting too dangerous for any short. You have to be very nimble and fast to jump out at the right time from a short position in a spiky bull market like this one. I'm also afraid this might be a tricky breakout without the tag of the...
While Gold printed a big rally in May and June, Silver was just lagging.
The XAUXAG ratio near to all time highs.
I think it's time for Silver to catch up and make a huge rally in the second daily cycle of this precious metal intermediate cycle. Silver's ICL occured on the 20th of May while Gold's ICL was on the 2nd of...
I guess a few of you missed the last weeks' big opportunity in gold. But as you know there is always another trade. In this idea I will show you how this trade can overperform our next gold long trade.
While we are shorting gold and waiting to print a DCL there's always worth looking around the metal sector which will switch from the late runner to a blade...
We stopped out the last idea where we had to stop it : at 1413.
Yesterday's close printed a pinbar again. At today's open gold was immediately slammed.
I noticed that at the daily cycle tops banks often force price downwards and not letting it to recover above the previous day's...
When you make enough loss in an 1x ETF time to switch to the 3 x leverage little sister at the bottom.
Time to take the advantage of the collapsing dollar in something what is printing the bottom in these moments.
Natural Gas -after shorted to death- is printing a 4,9% rally today.
UGAZ had a capitulation volume last...
I'm waiting for the backtest of the breakout at the 1350-60 zone in this idea.
Gold dropped 30$ after tonight's 1412 top. I'm looking forward to see a daily pinbar for the close at around 1380-82$.
We are very very due for a daily cycle top. If we have a pinbar I will post a daily chart, but this is a low risk entry with a stop above the 1412$ high.
After today’s 1% drop it’s not a question anymore : we have started the correction.
The only question how far is gold dropping.
These kind of drops into the DCL are usually lasting for 4-7 days. So I don’t expect a bottom today.
The bottom could be printed at the end of this week or beginning of next week.
I like to use the Fib retracement for...
When I posted my last gold idea
all the fancy newsletter writers – for 50-100$- were talking about how price will break down 1268. Everybody was finding bearish patterns on the chart: double top, triple top, head and shoulders, even someone was posting a descending triangle etc, etc. No one...
The wedge seems to be ready to break to the upside.
During the last 1-1,5 months price tagged 4 times the lower trendline of the wedge. The 1.11 level was not broken down though. We are in the apex of this 1-year-wedge and gold might be signaling a trend change in the currencies.
One could start an initial long position here and add to the position at the break...
2017. July : Gold broke an important resistance of 1216$.
Before the panic selling could have started, Kim Jong Un's nuclear test and missile launch over Japan stopped the panic selling in gold.
Gold was forced into a shorter intermediate cycle that summer. The next intermediate cycle was extremely long. It lasted for 177...
And one more idea for the extreme sport lovers.
If you want to trade GDX but the normal leverage is not enough this is the adrenalin you need.
NUGT printed 1000% gains in 2015-2016.
Every intermediate bottom in the miners is a new chance to make great gains here again.
The situation is the same like GDX.
The junior miners broke below the 200 SMA and starting to bounce out of the false breakdown.
Same RSI divergence, MACD is close to cross over.
It's a buy with a stop below yesterday's low.
I never do charting in the 3x ETF ...
The only thing I'm watching is the volume .
Volume often showing when smartmoney is positioning for a miners rally.
Yesterday's volume is extreme.
I think some of the big banks was buying yesterady 's miners breakdown and they did it in the 3x ETF JNUG.
I want to buy with them.