Member
Posted 29 November 2016 - 12:57 PM
Gold and Silver have to hold this monthly candle lows. If we breakdown below Nov monthly candle lows in Gold/Silver, then the bear market in Gold will resume.
I am a trend follower. I don't bet on trend reversals until they actually happen. Given that, i will be betting my money on the November lows to hold. Looking for a short term setup to get long in Gold. Will update when i get one.
Member
Posted 29 November 2016 - 01:09 PM
I will be buying GLD and GLD calls if Dec Gold trades above 1190 today.
Edited by NAV, 29 November 2016 - 01:12 PM.
Volume Dynamics Specialist
Posted 29 November 2016 - 01:55 PM
Why would you base your decision on Dec. Gold? Contracts rolled forward to Feb GCG17. Presently a negative reading... Lower high and lower low on STRONGER VOLUME.... December contract is dead fish.
Edited by SemiBizz, 29 November 2016 - 01:57 PM.
Member
Posted 29 November 2016 - 02:23 PM
Why would you base your decision on Dec. Gold? Contracts rolled forward to Feb GCG17. Presently a negative reading... Lower high and lower low on STRONGER VOLUME.... December contract is dead fish.
Dec gold 1190, Feb Gold 1194, GLD 113.6 - these are levels i am looking at to go long. Price patterns are the same in all three.
Edited by NAV, 29 November 2016 - 02:26 PM.
Member
Posted 29 November 2016 - 03:02 PM
GLD hit my target of 112.4. I am not saying it can't go lower, but I think it is at least a short term bottom.
http://www.traders-t...-1166/?p=755545
Volume Dynamics Specialist
Posted 29 November 2016 - 03:48 PM
I still have gold down into the 12/2 Gold Gann turn... we didn't quite hit my target of 1166... there are some good reasons to test it...
So I'm still negative for the rest of this week.
Member
Posted 29 November 2016 - 09:08 PM
Going into a Fed meeting where there is a 100% chance of a rate hike is not bullish for anything dependent on expanding dollar liquidity. If the Fed says that the next meeting is also up on the table in terms of hiking rates. I think it will be tough for gold.
Member
Posted 29 November 2016 - 09:47 PM
Why would you base your decision on Dec. Gold? Contracts rolled forward to Feb GCG17. Presently a negative reading... Lower high and lower low on STRONGER VOLUME.... December contract is dead fish.
Dec gold 1190, Feb Gold 1194, GLD 113.6 - these are levels i am looking at to go long. Price patterns are the same in all three.
On a 5 hr chart Gold is about to break up out of a goodlooking Triangle , targeting 1220 in a few days.we,ll see if it happens . then hopefully seeing 1300,s next year.
Member
Posted 29 November 2016 - 09:50 PM
They could not muster strength to hit 1190 today. It's do or die next 1-2 days. Very critical area for Gold.
Member
Posted 29 November 2016 - 10:26 PM
They could not muster strength to hit 1190 today. It's do or die next 1-2 days. Very critical area for Gold.
thought i just saw the FEB contract above 1195 ...
