XAU SELL SIGNAL !

I feel a slight responsibilty to re-address this thread Linked below,

and if my 60m does Send a Trend signal I will post it there.

FF XAU SELL SIGNAL.. and after thoughts

Best to all traders

MrDev

Thanks Mr Dev. It'd be nice to see a few more posts over here on the gold board. I know most like to post in FF and one has to scroll through and try to find various gold related remarks in FF.

Gold may bob higher for a few days still, but the XAU and HUI have reached their targets for this run IMO.

I don't know if you have read this post here, but XAU puts may be a worthy trade this month if the top is in.

Trading HUI Parabolas

These gaps should get filled soon, perhaps the first two gaps get filled by opex.



cheers,

john

Thanks for the charts. It was very telling yesterday that while the spot prices all soared, the miners either dropped or stayed pat. This is almost a classic divergence and these can be very telling. Right now the spot prices are down in gold, silver and palladium while platinum and copper are still way high. However, XAU actually dropped from yesterday opening from 139.86 to 139.40. In addition, this 545 area is where we hit resistance before the holidays and preceded to retrench to 492 so we'd like to think about near term support in the 490's. And seasonality is working against us, so I'll be curious to see how the demand from asia and the middle east will impact the bullion market in this situation. That's so far been the real driver, IMHO, the demand from India, China and Japan coupled with petro-dollars seeking an alternative to miles of tents full of $. After a while the utlity curve for additional $ flattens out relative to other investments. I'm still long but watching closely, peace, rono

Thanks SilentOne, Ya, who know when it comes to those GOLD Parabolic moves, I think many Professional Gurus were calling for a TOP weeks ago after a blow off move pulled back. But the Shinny metal had them watching just to see it move up and make a NEW HIGH! I'll try and post my chart later today as we move into that target 135ish area

Hi Mr Dev, The basis of these PM-related parabolic moves are extended 5th waves. And when they end, they retrace ... quickly. PS bought XAU Feb 06 130 puts and GG Feb 06 22.5 puts. cheers, john

XAU almost achieved the 135 price objective today with a Low of 136.79, but nothing,

has changed and I think we still have some work to do.

Again what I see as we near the area are some GAPs going both ways.

Today we saw a nice GAP down moving against the "established" Int Term Trend, with

a price retracement that failed and ending off the lows.

This is obviously a 60m time frame and since the Red MAs are above the Blue,.
anyone holding shorts since the 10th indicator showed a (Sell) or (pos high) could
take profits and re-Short any morning POP with a tight stop.

If you feel like I do that the 135 area of support could be tested and breached then
Maybe you hold, out a lil longer if you don't like to flip.

Still the recent High is an obvious Stop for anyone getting to bearish, which
make this a Good Short Entry Area (imo) or Trade for Traders.

Best
MrDev