Goldie gives more loveGoldie Triggered a trade for us last week. We are in with a SMALL position. We like the consolidation that is occurring. If we break to the upside WITH VOLUME we will add (small) to our current position.
Goldstocks
XAUUSD (GOLD) Looking for Long.XAUUSD (GOLD) Looking for Long.
because Gold have a Support area with Fibo fan level of 0.5.
and also Gold have Support and Resistance area. and gold have Divergence area,
so it should be up.
She's kicking butt and taking names.Goldie doesn't like handles...We like the long side but will need to wait for a consolidation or pullback. Keep a close eye on this chart.
Short gold on a fib retraceOn the left was the most similar gold spike I could find in 08/2011... I expect a similar retrace here boosted by the possible SPX reversal candle on Friday. Should SPX momentum continue, gold may go to 1140ish before I do a reevaluation.
XAU/USD Daily Market Report - 10/02/2016XAU/USD
Market retreated again from 1200-10 resistance zone which giving signals about ability for trading zone between 1150 - 1210
Market closing to Janet Yellen 2-days testimony while market supports 1180
Below 1180 market will face 1170 and 1150 as support levels, while resistance at 1200 and 1210
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He cup runneth overCould Goldie be looking for her cup...and handle? She is a bit over bought and needs a rest. We will watch her closely to see if this can play out. WATCH LIST!
She's En fuego!WOW...we missed this leg of Goldie's run...be patient with her. When she decides to roll over, she can. We will wait until another consolidation or pullback to look for a setup!
Gold in Down Move,Gold make a Selling Channel. and in my my View USD maybe strong because USD GDP was Growth.
Best of Luck
Goldie Rocking!Goldie may have another move in her. We like the Trigger zone for longs. REMEMBER: NO TRIGGER, NO TRADE!
FLAT GoldFLAT...we covered our position on this AM sell off. Crude popped over rumors which drug the indexes with it. Goldie rolled over and puked after making a new high. We are on the sidelines waiting for another opportunity. Stay tuned.
Aunt Janet to the rescueAunt Janet to the rescue. The FOMC didn't raise interest rates which sent the indexes tumbling and popped Goldie. We are getting close to our final target (200Day EMA). If we see any weakness we will cover the trade We also pulled the stop WAAAAYY up to lock in profits.
Goldie...number #2UPDATE: We took our 2nd target at 1122. Stops are pulled just under our entry. Now we wait for Aunt Janet for some love. LESSON: Observe how we managed this trade in order to give ourselves an opportunity for an FOMC pop. If you missed the trade be patient and wait until after the FOMC news to find new trades.
Third Times a CharmThird times a charm. We waited for the second resistance area to get long...again. We have been playing the long side for a while and we think Goldie has eyes on the 200 day EMA. For now we have our 1st target and hopefully get number 2 before FOMC. Aunt Janet surely can't pull a Mario and knock us out of our position? ;)
Goldie floating higher?Mario spoiled the party and took us out of our trade Thursday. When this happens we will sit on the sidelines for a day to see what happens next. Friday was an inside day for Goldie. We expect a move outside the range on Monday. We still like the upside and will continue to look for long triggers until we are proven wrong. There are two areas to look for triggers. Either way...WAIT FOR A TRIGGER!
Is Goldie sleeping with Draghi?Goldie broke back above our long area today and we got long on a quick trigger. We took some quick profits and are now holding a small position going into the ECB announcement tomorrow. The timing wasn't good on this trade because of the news so we will be patient and see what kind of party Draghi will throw tomorrow.
Goldie is tryingGoldie is trying to back above the 1095 area. If we see price above that area we will look for a trigger to get long. Be patient with her...it may take her a few days to cross that hurdle.
She has a mind of her own. Goldie is always keeping people in on their toes. We were expecting some consolidation on the breakout and then another leg higher, but Goldie has other ideas. She is now back to our original entry. If price closes above 1095 we will look for triggers long. NO TRIGGER, NO TRADE!
Goldie setting up?OK...we are flat Gold and want to re-enter for a run to the 1140-5 area. We would like to see a pullback to the 1089 area but in strong trending gold markets deep pullbacks usually don't happen. We believe Goldie with consolidate in this area for a day or two and start another leg higher. We will be looking long for triggers after the first 60 minutes of the trading day. NO TRIGGER, NO TRADE!
Wise WordsIn hindsight we covered our trade a little early. However, a mentor told me if you pick tops or bottoms you will go broke...if a move is for real there will be plenty of time to make money. wise words!
Goldie delivered the trifecta. Second Target was hit intraday today and we covered our final leg on a globex pop. This trade work out very nicely with very little pullback. This is the exception and not the rule. Most moves have some back and fill before hitting 2nd and 3rd targets. From the looks of it, 2016 could be a very good year for traders. If you missed this trade DO NOT CHASE! There will be many more coming.
Goldie Trade UpdateWith a break of the previous days high and as it inches to our second target we are pulling our stop up closer to the entry. Manage your trade!
GOLD (GC, XAUUSD) - JANUARY INTRADAY FORECASTThe new adjustment to the gold/us dollar by the EWA/EWP analysis! There are 2-variants of the price progression in subwave C. Classic impulse or can be Ending Diagonal Triangle!? Anyway: Buy limit - 1073.56, S/L -1069.00, T/P - 1086.00
Best regards! Sincerely yours, Powerful Traders.
