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Xau_usd

XAUUSD WEEKLY CHART - MAKE IT OR BREAK ITWith all the NIRP's and ZIRP's flying around in an economy based off fraud and debt, this was expected, and now we have the start of the technical indicators to back it up :) With the history of miners leading the commodity in moves, I'm expecting gold to make a move higher (see GDX charts): - We again have the bull flag being made, with any bearish attempt to "fill the gap" back down to 1180 being stunted 1200 - Our 'medium' channel from 2013 has been broken, re-tested, and remained bullish - We are at out 23% fib retracement (same that GDX just broke through) from our big move down from our ATH in 2011 - We are also one move away from recent solid price action (black horizontal lines), which was similar in the GDX as well - If these are able to break tomorrow, 1300-1400 is our very short term goal - After 1415 you only have 1485, and 1568-1600 as price action areas, which is a very nice, large gap to be filled Feel free to comment with questions or ideas :) Happy Trading!
FX:XAUUSDLong
by AwareBear
XAUUSD DAILY CHART - MAKE IT OR BREAK ITWith all the NIRP's and ZIRP's flying around in an economy based off fraud and debt, this was expected, and now we have the start of the technical indicators to back it up :) - Just as the GDX, we have a beautiful parabola, followed by an attempt to go to 1180, which was rejected by the bulls - This creates the bull flag / pennant that was see now, which was just broken out of to the upside - By finishing this day (April 11th) above the 23% fib retracement, I believe we have invalidated any head and shoulders pattern, as the left shoulder failed to do this - This is vital, for if we drop lower from here, that is a classic Head and Shoulders pattern, which would launch us to 1180 no problem, so this is why it is a "make it or break it" time for gold ... - We are out of our 'middle tier' channel, and back into a smaller and much weaker channel - This leaves me with some concerns but the same thing applies as to the GDX; - If it can break and hold above this channel and price action of 1270, that's when we should see the confirmation of a bull market, short term at the very least Feel free to comment with questions or ideas :) Happy Trading!
FX:XAUUSDLong
by AwareBear
GDX DAILY CHART -- MINERS BREAKOUT, CASH WONT BE KING FOR LONG With all the NIRP's and ZIRP's flying around in an economy based off fraud and debt, this was expected, and now we have the start of the technical indicators to back it up :) I was expecting it to retrace down to the 17 area to "fill the gap" Instead it created a bull flag / pennant , and then in 3 days , broke out of our channel and above price action All very bullish signs, even with the 50 and 200 ma quite far behind Tomorrow (April 12th) I will be looking for a retracement of 22.16, which if it can hold, is where I buy more miners - If it doesn't retrace at all I will simply buy in before the day ends, as I'm a firm believer in price action Feel free to comment with questions or ideas :) Happy Trading!
AMEX:GDXLong
by AwareBear
GDX WEEKLY CHART -- MINERS BREAKOUT, CASH WONT BE KING FOR LONGWith all the NIRP's and ZIRP's flying around in an economy based off fraud and debt, this was expected, and now we have the start of the technical indicators to back it up :) My target area Short Term is 25-28: - We have the 23% fib retracement from our move down from our All Time Highs in 2011. - Weekly 200 ma - Solid price action (horizontal black lines) - Broke out of our channel to the upside that start in June 2013 -- If tomorrow (April 12th) holds above this channel, that's when I shoot my final bullet - The top of our bigger channel is in this area Feel free to comment with questions or ideas :) Happy Trading!
AMEX:GDXLong
by AwareBear