24 replies to this topic

[dougie]

interesting that those levels almost never correspond with AJOR bottoms though

XAU LT Chart..

enjoy

[Mr Dev]

not really .. because this chart is not designed to show major bottoms just daily . we can all see that these areas mark near quarterly ranges of activity.
one shouldnt try and use short term time frames for Long Term OR... Major indications.

in fact one would NOT and should NOT use such a long term chart look to try and trade short term (ie daily) as well...since
you can NOT zoom in on the key information. this is only a historic view so people can see
a daily oversold level in comparison since this chart is 30years of daily activity. this is also why i posted so many other CLOSE UP charts.


for Major TURNs at HIGHS or LOWs a different chart set up would be used where
the parameters would be shifted to be a little slower and or ..the data would be converted to a weekly time frame.

interesting that those levels almost never correspond with AJOR bottoms though

Edited by Mr Dev, 13 November 2014 - 01:12 PM.

[Mr Dev]

the problem with the XAU and miners in the short term is really going to be with the VIX Set to run up to 15~17 as mentioned since 12.5 and last friday.

thats going to be a problem for most indexes and most sectors

Edited by Mr Dev, 13 November 2014 - 01:14 PM.

[Mr Dev]

i can lead you to HEALTH FOOD but i can't make you eat it.

Here's the XAU today .. everything here is on a BUY except for 2 !

both of those 2 (one on top and one on bottom) are long term indicators.... that are close to turning green in days....and have been on a Sell Since Last Aug.

80ish is the target shown and the resistance area .

Edited by Mr Dev, 13 November 2014 - 01:46 PM.

[Mr Dev]

hey ..we knew we were early .... and trust me we are so far from peak momentum for the XAU if it completes this turn its amazing .

the XAU did close down 1.4 % today but as i posted at my .. RUT OCT 10/13th trend has changed today thread. . . the XAU daily chart is still on a buy GDX as well.


so ill update a few of these charts for you folks tomorrow/ friday ...likely after the markets are close.

Edited by Mr Dev, 14 November 2014 - 01:08 AM.

[dougie]

looks like it will be an even better buy in AM

[Mr Dev]

yes did you get any? knowing when to buy the dip .. is key . like everything else in the Trading Game .. if you couldnt grasp it quickly ....its l already too late with the XAU now up +2.0% ..after being much higher . so im not calling this a min by min trade ...it would be way to volatile and exhausting to try that because every second of every minute provides another opportunity . . .everyday. this is a daily set up that has 10% potential gain in the coming week(s) and more after . by the time ive finished this post /..the XAU is now up +2.49 % so a .50% opportunity just went by again . . but thats not what im interested in .

Edited by Mr Dev, 14 November 2014 - 11:27 AM.

[risk_management]

Great job Mr. Dev. That's some serious conviction.

[Mr Dev]

thanks RM.

..i just hope the big traders see it too and come in after me ..XAU @ 71 should draw some attention.

i have as much conviction as possible on this...now just looking for some follow thru on a daily & weekly basis.

Picking bottoms or even tradable lows (possible bottoms) ...which is what im doing...is no easy task.

Tonights charts will be of great interest ..and may start to interest others to come in . . . as other sectors stall ...and this one starts paying out .

Great job Mr. Dev. That's some serious conviction.

Edited by Mr Dev, 14 November 2014 - 11:40 AM.

[Mr Dev]

i'll post this one up a lil early from the close as we have a lot of time left in the trading day...

but it looks like im on to something again.