Will the long-term support line stop the hemorrhaging in the gold market?
In my new short video I will show you some of the key elements and levels that I think should come in and support the gold market. The video is quite short, but it will lead you step by step into the detailed analysis of this not so precious metal.
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The video is free to watch and there is no need to register. I would love to get your feedback about this video on our blog.
All the best,
10 thoughts on “What's up or down with gold?”
I entered a little very later on gold. I actually entered at 923.00. is it safe? Do you think that gold could correct to the 933 region before coming further down? pls contribute
Thanks a lot for this deep insight. I wonder that you have much more for technical analysis of gold price. The question I have comes from my own experience with the predictability of gold ores price. Obviously, this price is driven by the difference between the PPI and the index for gold ores. This is like a definition. at tha same time, the difference has very clear sustainable trends over 5 to 10-year periods. In other words, one can see far along such trend if the trend actually exists. I would appreciate your opinion about long-term trends in gold price. Do you see the same pattern as myself? I just link to the physical picture: http://mechonomic.blogspot.com/search/label/gold%20price
Thank you for your feedback. As we have said before sometimes as traders we over think and therefore over analyze everything including the markets.
Here's what I am saying in a nutshell. If you just followed the Trade Triangle rules and nothing else you would come out far ahead of most other traders. Their is no doubt about that in my mind. Personally I am happy with the sweet portion on the move. The rest I am happy to leave to someone else.
All the best,
While Considering the trade triangle (Trend and Entry on monthly, weekly, daily basis depending upon the market), do you also consider the other oscillators as in RSI, MACD, William %R , ADX, Stochastic for approval ..?? if yes, than can you please specific that particular oscillator.
Am asking this for the Gold Chart has given new weekly sell trade triangle and your William %R is in deep over sold territory.
I am always amazed to see the trade triangle do wonders by enabling us to eat the sweet portion of the move (on either sides) but am still unaware as to the points that you assign to the trade as in +90, +75 etc depending on the monthly, weekly, daily trade triangles. Any help in this regard will be deeply appreciated.
Thanks for this. It raises more questions for me, and that is good. I thought it would go down to the 850 level, but 870 is more realistic. The question at that point would be, will the long term trend continue to be up and if that is the case then would that not be a great opportunity?
If the williams %R is oversold now,then that indicates that the bottom seems to be in? Then getting to 870 would be difficult.
Seems like we are entering a sideways market. Not good for trading I suppose.
Thanks Adam for the video.
I just subscribed last Sunday after watching your video blogs for couple of weeks.
Currently the trade triangle shows negative for daily and weekly for gold spot. Doesn't this mean go short on gold?
Thank you for your feedback and for subscribing to MarketClub.
You are absolutely right, the trade triangles on the daily and weekly charts for gold are both negative meaning one should hold a short position.
Some members, like to look at the monthly triangles to get more of a confirmation of a major trend. However your reading of our program and our trade triangles is right on the money.
All the best,
Since gold is one of the markets where you advise us to use the weekly triangles for trend & daily triangles for timing, didn't the new red weekly triangle signal that we should be short the market (and cover the short only when a green daily triangle pops up)?
I thought that monthly triangles are irrelevant for commodities and FOREX. Please advise as, I went short gold yesterday based on the emergence of the red weekly triangle (and had not planned on covering until a green daily triangle emerges). Thx.
You are right on the money. It is the weekly triangle for trend and the daily triangle for timing for gold, forex and commodities.
Every success with your trade.
All the best,
The e-mailed INO list of stocks comes with lank graphs, totally useless as I can check prices anywhere. I have previously advised of this problem.
I enjoy reading your material but be advised that i do my own risk management and select my own trades but the reading material provided not only by INO but many others is a valuable tool and helps me to anticpate market trends.
Thanks for the service,
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