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Hadelta

Gold Continues to Sell OffGold sold off sharply on Wednesday, closing the day down 8 points. The Heikin-Ashi candle finally turned red and the level on the QStick indicator at the bottom of the chart has now turned orange. All this signifies that the pressure to the downside continues. Whether or not this is anything more than a temporary selloff from the extremely overbought condition is still not clear. What is clear though is that further downward movement should bring price down to at least the 1263 area which is the mid point of the Bollinger Bands. Disclaimer: This post is for educational purposes only. Trading is at your own risk.
COMEX:GC1!Short
by GoldBands
Natural Gas Drops Below Upper Bollinger Bands to End 6 Week RiseOn Tuesday, Natural Gas dropped .10 points to close just above the 21 day moving average. This is a potential end to the last move up which began on Feb 22 of this year. If price can break through the 21 day moving average, I would expect price to continue selling off until a tag of the lower Bollinger Band which now sits at 2.9. The potential downturn is supported by 2 consecutive red Heikin-Ashi candles and the haDelta indicator now turning red.
NYMEX:NG1!Short
by GoldBands
Gold Rallies and Pushes to Upper Bollinger BandGold rallied hard today, gaining almost 20 points on the day. On the way to the new monthly high for April, Gold shot past last Friday's high and didn't pause as it continued it's ascent to the outer Bollinger Band, which is set at 2 Std Dev from the midline. Monday's red Heikin-Ashi candle is now well in the rear-view mirror as well. And all along, the haDelta indicator did not flash red, staying a solid blue since April 4. Most of the time, after a big move in Gold, the market pauses for a day before giving any signal of the next move. I am watching for a pullback to the inner 1.5 Bollinger Band (which is at 1270) which is also at the same level as the Keltner Channel (yellow). A nice rejection of that level would indicate that a new up wave in the precious metal is about to begin. Bullish Heikin-Ashi chart Disclaimer: This post is for educational purposes only. Trading is at your own risk.
COMEX:GC1!Long
by GoldBands
Gold Recovers but Continues to Move SidewaysGold ended Wednesday down .6 points, making a late day recovery after selling off strongly to start the day. So while gold did close above the 7 day moving average, price continues to move sideways. The haDelta indicator is also still bullish but is showing definite signs of slowing down and even possible changing course. And if, in fact, price does move down, the haDelta would be showing a major diveregence between price and the last 2 peaks ( see yellow line ) Disclaimer: This post is for educational purposes only. Trading is at your own risk.
COMEX:GC1!
by GoldBands
Gold Falls Below Support LevelsGold closed down 3.7 points on Thursday, falling through support levels at the 7 day moving average and the inner Bollinger Band. While it's not clear if this is going to be a long or short lived downward correction, I am banking on price hitting the 21 day moving average at 1232.90. As I've said before, when price breaks through the 7 day moving average, the is a high statistical probability that price will then touch the 21 day moving average. As for the Heikin-Ashi signals, we now have two consecutive red Heikin-Ashi candles and the daily haDelta indicator has turned red. Disclaimer: This post is for educational purposes only. Trading is at your own risk.
COMEX:GCM2017Short
by GoldBands
Gold Stays Bound within Monday's RangeGold closed down 2 points on Wednesday, once again finding support at the confluence of moving averages and the inner Bollinger Band. While not moving lower than support, price stayed contained within Monday's candle and is setting up for a potential 'Rising Three Methods' pattern. This pattern starts with a long green body that is followed by three small body days, each fully contained within the range of the high and low of the first day. Then the fifth day closes at a new high. If this plays out, then Friday would be the day for price to hit the outer Bollinger Band which is now at 1267.30. While the indicators are still green, the Heikin-Ashi candles are showing a potential end of the up move which you can see on the chart above. Certainly the Heikin-Ashi doji on Wednesday is not inspiring a lot of confidence for the bulls. I recommend protecting your profits and tightening stops. Disclaimer: This post is for educational purposes only. Trading is at your own risk.
COMEX:GC1!Long
by GoldBands
Gold Gains and Penetrates Mid Bollinger BandGold moved higher today, gaining 10.2 point to close at 1255.7. After penetrating the middle Bollinger Band @ 1255.4 to hit a daily high of 1261, price closed just underneath that middle Bollinger Band. I am still expecting a tag of the outer Bollinger Band at 1266.10, which is my first profit target on this bull trade that started with an entry at 1220. All signals are bullish, including the Heikin-Ashi candles. Disclaimer: This post is for educational purposes only. Trading is at your own risk.https://www.tradingview.com/x/Jf4JUTxT/
COMEX:GC1!Long
by GoldBands
Gold Ends the Week FlatOn Friday, Gold spiked up above 1250 but then sold off as the day drew to a close, to close at 1243.3. On the week, Gold was up 14.3 points. All indicators are bullish and, Friday's Heikin-Ashi Doji aside, I am looking for price to at least tag the 1.5 Bollinger Band or higher. Reversing now without even a tag of that 1.5 Bollinger Band would be unusual. So until we get some red color on the chart, I will be maintaining my long position. Disclaimer: This post is for educational purposes only. Trading is at your own risk.
COMEX:GC1!Long
by GoldBands
Bollinger Bands and the Coast to Coast MoveOne of my favorite uses of Bollinger Bands is to participate in what I call a 'Coast to Coast' trade. This is when price breaks from one of the outside Bollinger Bands and then reverses and moves towards the opposite Bollinger Band. Along the way to completing the opposite tag, price will often react off the 21 day moving average. You can clearly see that on the chart below. After the first tag of the 21 day moving average, price re-bounded and instead of moving towards the other outside Bollinger Band, continued and hit the upper Bollinger Band a second time. And then, a week or so later, price once again rebounded of the 21 day moving average and reversed to hit the outer Bollinger Band one last time. After the third hit of the outer Bollinger Band, price did correct and quite quickly hit the opposite band. That sell off seemed to be enough to propel price back up. Also you can see that one both the last move down and the current move up that price didn't even pause at the 21 day moving average. If you study historical price action off the outer Bollinger Bands, you'll see that 3 tags of one band is pretty much the max. When I see that, I do think counter trend. In this case that was confirmed by the haDeltas both turning red. Disclaimer: This post is for educational purposes only. Please trade at your own risk.
COMEX:GC1!Long
by GoldBands
Gold Rebounds off the 7 Day Moving AverageGold dipped lower in the overnight session but then rebounded off the 7 day moving average. Price is now at the top of the weekly highs and looking to move above 1250. I've added a second haDelta indicator which is set to track the weekly Heikin-Ashi candles. Now both the daily and weekly are aligned in blue. This is a great way to stay in the trade and to filter out noise. For example, yesterday was a down day but even though the sma on the daily haDelta moved down, the overall trend remained up. The Heikin-Ashi candles also remained Green. Disclaimer: This post is for educational purposes only. Trading is at your own risk.
COMEX:GC1!Long
by GoldBands