58 replies to this topic

[AChartist]

last week was flatish in my weekly cycle, there is an abrupt spike up for a couple more weeks, and monthly basis has peaks in 1 to 2 more months, gold should be ok for a few weeks at least. It's basically saying what is calculated true in correlated weekly cycle is also there in monthly and should work. I bought some silver right this week, 333 per 20 oz., gold coin premiums up last night, that is often a clue. I haven't been able to buy any gold right for a while and probably will not until next spring-summer low.

[tria]

Will not touch it today no matter what the price is but probably sometime tomorrow. Just to be less short than I am today. JMHO -tria

[tria]

Well I chaged my mind and bought 1/4th @ $1,153.30 -call it a daytrade of about $22.00- Will probably add another 1/4th tomorrow if near $1,145.00 -tria

Edited by tria, 28 October 2015 - 01:52 PM.

[tria]

It is easier for me to read the patterns of the GLD:FXE chart rather than the GLD in $terms chart.

I belive that the initial objective of the small reverse H&S formation formed in Aug, Sept and October, was fully met at today's high.

http://stockcharts.c...id=p64481084647

The price objective of the pennant formation in the Gold in USD terms has not been met YET.

-tria

Edited by tria, 28 October 2015 - 02:28 PM.

[tria]

BTW Tom MCClellan in his 7/17/2015 free letter, suggests the same about the usefulness of the gold as priced in euros, rather than in dollars charts.

"I like to tell my newsletter readers that if you want to look at a chart of gold prices to get a good technical perspective, then look at gold as priced in euros, rather than in dollars.

The dollar price of gold just does not seem to behave in as orderly a fashion from a chartist’s perspective as the euro price does. The dollar price does not particularly exhibit support and resistance behavior at static price levels, and its trendline breaks seem to come after the corresponding trendline break in the chart of prices measured in euros."

http://www.mcoscilla...has_gone_quiet/

-tria

[tria]

FWIW,

I do not think that GDX will move a lot today and tomorrow if the end of the month opex maximum pain principle/observation holds true.

The last two days of this week are imo only good for daytrading Gold or for a 2-day trade.
The week may not end on a happy note.
Next week may offer us a more tradable low.
I will act accordingly if any or all of the above are observed.

The difference in the OBV study between Gold and Silver continues to amaze me.

http://stockcharts.com/h-sc/ui?s=$GOL...id=p57025109402

http://stockcharts.com/h-sc/ui?s=$SIL...id=p88910284485

-tria

[crossd]

FWIW,

I do not think that GDX will move a lot today and tomorrow if the end of the month opex maximum pain principle/observation holds true.

The last two days of this week are imo only good for daytrading Gold or for a 2-day trade.
The week may not end on a happy note.
Next week may offer us a more tradable low.
I will act accordingly if any or all of the above are observed.

The difference in the OBV study between Gold and Silver continues to amaze me.

http://stockcharts.com/h-sc/ui?s=$GOL...id=p57025109402

http://stockcharts.com/h-sc/ui?s=$SIL...id=p88910284485

-tria

..silver being an industrial metal may explain it..
donc

[tria]

Added 1/4th Gold and 1/4th in Silver @ $1,153.10 and $15.75 There will be a rally by the close today. Tomorrow I will sell them on an expected early day high. -tria

Edited by tria, 29 October 2015 - 07:55 AM.

[tria]

FWIW,

I do not think that GDX will move a lot today and tomorrow if the end of the month opex maximum pain principle/observation holds true.

The last two days of this week are imo only good for daytrading Gold or for a 2-day trade.
The week may not end on a happy note.
Next week may offer us a more tradable low.
I will act accordingly if any or all of the above are observed.

The difference in the OBV study between Gold and Silver continues to amaze me.

http://stockcharts.com/h-sc/ui?s=$GOL...id=p57025109402

http://stockcharts.com/h-sc/ui?s=$SIL...id=p88910284485

-tria

..silver being an industrial metal may explain it..
donc

Yes but Silver was always an industrial metal, meaning this phenomenon has been going on just recently. I have not seen such a BIG difference in the past.

-tria

[tria]

Just in case they will hit the stops around the $1,150 level or slightly lower, I have placed an order to buy near $1,1147-1145 and near $15.60-15.50 in Silver -tria

Edited by tria, 29 October 2015 - 08:29 AM.