chartwatchers

Though we are still in the range it seems the ping-pong game finished. When you choose gold market to trade you need to know it is a rigged market : everything evolved here is to fleece human retail traders. The last few days are a perfect example how these entities are influencing the gold market. On the 18th Aug gold topped at 14:00 and entered into a normal ...

Last week Tuesday commercial long contracts were 87538, short contracts on the same day were 86121. At the same time large speculators short contracts jumped from 7158 to 16598. This is a rare moment when most of the commercials think there is no need to hedge production and hedge funds became very convinced silver is going lower. I will be trading this with the ...

The call is to drop 300 points by the 20th of September. I was waiting for this day to drop below the previous day's low. As of today by the close we completed a swing : https://www.tradingview.com/x/mdZPjyfT/ It took almost 7 months to break above the previous high(2877). The rally started on the 9thFebruay and we broke out on the 27th of August. We used up too ...

After 2 green days we got our red candle day today. It's still nothing to worry about this drop it's normal at the beginning of a new intermediate cycle. 1. We tested back the down trendline with this drop. https://www.tradingview.com/x/kRkQcXDc/ 2. 1212-14 was an important zone on the hourly chart. It took 25 days to break down this zone and produce the final ...

What a bear trap. I think nobody was waiting for today's move after yesterday's selloff. We are going to close above the 10 EMA - what we lost yesterday - and we broke the down trendline... Before anyone would start to short it I have to say the rally is just starting. While all the indicators were showing divergences: the hysteria broke down price from the ...

Watching the year 2018 the EurUsd is looking like a perfect short trade. It topped in the first quarter of 2018 like a descending triangle. The triangle broke down and we reached not just the counted target price but we also break below the 200 SMA which is one important sign of a starting bear market... This big rally from 1.0345 to 1.2558 and the last few weeks ...

For those who doesn't want to test their deathwish with JNUG here is GDXJ the unleveraged fund of the junior miners. As we are getting close to the end of this trading day a bullish harami is forming on the daily chart. As I'm typing this gold is just breaking a out on the hourly chart. https://www.tradingview.com/x/BChscPop/ ... and forming a swing on the daily ...

The volume in the 3x leveraged junior miner fund jumped in the last few days. We had a capitulation type of volume price dropped hard. https://www.tradingview.com/x/DiVEc8hM/ After today's powerful start bears tried to take control but it was enough only to take out the stops of those who entered today. The opening gap was not filled. It seems to me the bottom ...

Brexit, US elections, Kim's rocket season... Just a few of the news what drived gold's move out of the lows or pushed it into the deep. What will be the next news what drives it out from the recent lows I don't know but I guess we will get it know soon. There is always a story to explain the actual rally or drop. Yesterday we broke the down trendline finally and ...

I also want to post this chart for those who prefer the riskier investments. If GDX prints a 4.3 $ rally during the next 2 months that's a 20% profit. At the same time NUGT will print a 60-70% rally. It means by the end of October we might see NUGT at 31$. We will not reach yesterady's breakdown volume but the volume not bad so far. At the same time gold is ...

If it was a true breakdown price should had opened by a gap and drop hard. This is going to be a false breakdown from the range. We will be heading to 25 $ soon.

It seems we are just having one more possible entry in gold. Price tagging the 100 SMA on the hourly chart. If it doesn't act like a support zone we will drop close to the previous low again (1238). MACD might want to turn up again above zero and RSI is oversold enough for the next leg up. This call is pretty close to my earlier entry. The picture is tricky ...

Come back for the text later.

Gold had every chance to tag to the purple trendline while the dollar rallied. That never happened though. Gold's intermediate corrections was getting shorter and shorter during the last year. The reason is the central banks' money printing since 2009. I think that money landed in the stock market first and in the last year it was migrating into the precious ...

There's quite a similar pattern evolving in gold today to the 2009 summer pattern. There were many attempts to break 1000$ at that time. This time the key level is 1360. I think once we break 1360$ gold will print a strong rally up to 1450-1500 in 2-3 months. The only question is she ready to run? Or we still need to visit 1236$ first. In 2009 the last ICL was ...

Interesting things are wvolving in the currency markets and gold. First of all let's start the currencies because I think this is going to drive gold's next cycle. EURUSD https://www.tradingview.com/x/cHEyHbcn/ The last 2 intermediate cycle lasted for 120 and 100 candles and this one is already 126 candles long. After Friday's big reversal into the close - we ...

As I've mentioned before in the Heavy metal gold post the EurUsd was printing a descending triangle pattern. The pattern broke down a few days ago but I don't think the EurUsd has topped and starting a bear market. As soon as the target price from the pattern completed the rally will start again. The target price is at 1.1963. This target price is the same as the ...

Most probably the previous gold idea will be closed in profit soon. I think the drop is just not finished yet. Before gold breaks upside from the 2-3 years bottoming process we need to wash out all the goldbugs. Today we have a very similar pattern to the 2016 Aug-Oct descending triangle. In 2016 Sept wee tagged the 200 SMA twice before on Monday or Tuesday the ...