7 replies to this topic

[opinionated]

This thing is killing me!

 

Same as last time,  stopped out at 23.52 which was good considering the vacuum drop on friday!

 

I did enter the same position at 23.20 in the afternoon.  I do believe gold is ready to move big this coming week.  But as I said it is all about the Dollar...  I think 93.75/94.00 is a tuff wall to know down for the geen back.

 

Best

[fib_1618]

The updated XAU/Yahoo advance/decline line as of Friday continues to show that there's still a lot of indecision about and the reason for the whipsaws. Still looking for an end December tradable bottom for the metals complex in general.

 

Fib

 

Edited by fib_1618, 21 October 2017 - 09:21 AM.

[SemiBizz]

As you know from my previous postings, I am also looking for a December low in gold, more towards the front part of the month...

 

And as far as the local trading environment for GDX on Friday...  what you had was ugly, down on much stronger volume, made the weekly low, closed on the closing low of the week..  Here's some possibly useful information based on hourly volume

 

S1 23.18

 

S2 23.00

 

S3 22.81

 

There is a "measured move" target off Thursday's Doji at 22.89, so you have some confluence working there

 

I'm fine with a bounce, set up a better risk/reward... I'm out here, so good luck.

Edited by SemiBizz, 21 October 2017 - 10:20 AM.

[typicalbear]

This thing is killing me!

 

Same as last time,  stopped out at 23.52 which was good considering the vacuum drop on friday!

 

I did enter the same position at 23.20 in the afternoon.  I do believe gold is ready to move big this coming week.  But as I said it is all about the Dollar...  I think 93.75/94.00 is a tuff wall to know down for the geen back.

 

Best

 

Taylor in the FED is best for gold....best to wait for the announcement.
 

[opinionated]

Thanks Fib, Semi and TB...

 

I am humbled, The best of the best show me my TA is flawed. Think I will close this position at the first chance.

 

Thanks Guys... 

 

Very much

[SemiBizz]

There's nothing left to do but to test 1263 now on the gold contract

[SemiBizz]

As you know from my previous postings, I am also looking for a December low in gold, more towards the front part of the month...

 

And as far as the local trading environment for GDX on Friday...  what you had was ugly, down on much stronger volume, made the weekly low, closed on the closing low of the week..  Here's some possibly useful information based on hourly volume

 

S1 23.18

 

S2 23.00

 

S3 22.81

 

There is a "measured move" target off Thursday's Doji at 22.89, so you have some confluence working there

 

I'm fine with a bounce, set up a better risk/reward... I'm out here, so good luck.

 

23.00 Hourly Support tested on LIGHTER VOLUME - BULLISH SPRING BOUNCE - back to 23.18 R1  23.30 R2   23.39 R3

[opinionated]

Thanks semi...

Big hit because of sentiment I guess so will hold for now I guess. Gold reversed from down 5 to up two... let's see the close could be a bottom trend reversal. Similar to the 1262 turn around? Probably wishful thinking...