Gold Day Trading

[Joules MM1]

if the level falls apart as a rotation, does it offer an idea of strength to the large upswing, as the swing has been so constructive, defining risk for a STO and a probable confirmation of more upside on a retake of the close-out level

gold is prone to reversing on 'no apparent reason' .......there's a always a reason, sellers overwhelm convinced buyers, exhaustion of bids, nothing special...the ratios provide levels of permission and risk

 

[Joules MM1]

the breakout looks weak and has already come back inside the 'floor' range makes me think we either have not stamped this zone as the zone to bid or we have seen an exhaustion move
breaking 1310's would be a good sign the swing south is underway 1325's break bit tick for bids (front month con)

 

[kid hustlr]

J do you ever look at Gold stocks as a lead indicator for the POG?

 

[Joules MM1]

J do you ever look at Gold stocks as a lead indicator for the POG?

i used to try and get a sense of a group of players and sometimes use xgd as a guidance on "belief" buy the bidders....but really theyre all slaves to the same thing so i found my focus got foggy doing all that running around....just cannot tell if lagging or leading a sentiment can look right but be a big fake as one group uses directional strength to get out/in .....knee jerk gang both directions...never found a useable edge

 

[Joules MM1]

the breakout looks weak and has already come back inside the 'floor' range makes me think we either have not stamped this zone as the zone to bid or we have seen an exhaustion move
breaking 1310's would be a good sign the swing south is underway 1325's break bit tick for bids (front month con)
View attachment 85497

a little more in focus on how price unfolds moving back to 1310's
a simple abc (the B a fake-out H/H) would suit more upside in the bigger pic

 

[Triple B]

Gday Joules
I have been following AU for a couple months[Demo as practice for real deal very soon]
Do you ever day trade [night Trade] the Non Farm Payroll, Fed minutes etc anouncements?
Some crazy $10 + swings in minutes . I practiced last Friday night[ [about 12:30amSat] Fading the Up Bar at the top . Going short and Riding down the correction. Not for the feint hearted but could be some quick opportunities there.

 

[Joules MM1]

G'day TB

another way of coursing/viewing thru the upwswing

symmetry and relative sizing offers risk profile and adds confirmation signals to context

 

[Joules MM1]

let's try that again !

 

[Joules MM1]

the breakdown of the above construct gave permission to take the sell and look for the larger abc (see #65) before we can stick on our hiking boots and head north again ......smells like teen distribution, Asia not on the bid today

 

[Joules MM1]

who's a nasty girl
jacking weak longs and grabbing a bargain for a zone to attempt another launch

 

[Joules MM1]

consolidation time spent maybe (offers) some clues

 

[Joules MM1]

chopped my knees a few times ......but i get em in the end (etc etc)

1311 never eventuated bodes well for a swing thru

 

[Triple B]

Hope you are busy on the Au Joules

 

[Joules MM1]

Hope you are busy on the Au Joules

yes

and regular visitor to your new diary/blog ....maybe a vlog coming soon too ?

(1) $DX is heavy long (2) gold is mediocre long (mate, where's me mania, oh, you went cr@ptocoil) and (3) xjo is 74% longs on a downswing ......while it may be true that not all cfd sentiment pos are of a great value due to the lack of data to support size, the data that is there suggests sentiment is usually high in the wrong direction ......gold is currently in a very robust channel and broke thru two of my major ratio level in a convincing GTFO of my way style

 

[Triple B]

maybe a vlog coming soon too

No Vlogs. not much point in a newb vlogging his stumbling through a demo acc I reckon.
Have been looking into ratios a little , and can see some use in helping determine CO potential selling/ take profit areas.
Did you squeeze anything out of the CPI Announc on Sat Morn?
I tried but got in a bit early , then stopped out . Might need to give a bit of time on next scheduled announc to let it settle then take pos.
Might see some hard selling into and around $1350 mainly cause its a nice round no and has previous R.
But reckon bulls will regain control.
Would like to see your 88s target hit though .

 

[Triple B]

Just for interest if it remains in the narrow bull channel we can see 88s By the end of the month.
If it gets overbought [above top trend line[overbought line]even sooner. so many ways to app roach this game.

 

[Joules MM1]

No Vlogs. not much point in a newb vlogging his stumbling through a demo acc I reckon.
Have been looking into ratios a little , and can see some use in helping determine CO potential selling/ take profit areas.
Did you squeeze anything out of the CPI Announc on Sat Morn?
I tried but got in a bit early , then stopped out . Might need to give a bit of time on next scheduled announc to let it settle then take pos.
Might see some hard selling into and around $1350 mainly cause its a nice round no and has previous R.
But reckon bulls will regain control.
Would like to see your 88s target hit though .

there was no triple play like there usually is so initially i got trapped after bidding close to the low i sold what i thought would be the stamped high for a larger swing south....that bummed out .... it gave a warning and the way the ratios were pushed aside added to the bull break so i guess we got some legs in this run which make the 88's look attractive and we'll get a lot of sub channels within this larger one...the pricing has been the best of all the legs in terms of days that close at the high and less down sessions so we could say the trend is accelerating esp while the $dx is in free fall with every muppet trying to buy the $DX bargain

 

[Joules MM1]

print keeps proving the few bulls are correct, retail kinda uncommitted both sides of the gig

 

[Joules MM1]

FT71: "what is the auction trying to achieve?"

do or die time ?
no rotation for $DX to get pumped about?
next COT report should offer insight

 

[Joules MM1]

and then