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Gold Daytraders

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if the dollar basket becomes impulsive it maybe time to size-up on STO's...otherwise small sells as we go....go ....go

the news cupboard is bare, a bonus for strictly price-action
but keeping an eye out for the :bunny: who sells every news whip



$DX v $XAU
 
Gold is now at the lows of the last three days. Put your hard hat on.
Stuff a few of your bunnies in your hat.
 
peter2 said:
Gold is now at the lows of the last three days. Put your hard hat on.
Stuff a few of your bunnies in your hat.
Click to expand...

so long as dx keeps the grind on i think the liquidity people will keep rotating south with plenty of price width further down way before any technical cues kick in.

top clients cmc cfd are 82% BTO (let's call them positional)
for 'all clients' 69% are BTO

would be good to see a decent shake out.....incidentally the $XGD looks like it's in mid-stream impulsive bid...few of these local goldies RRL/EVN etc are going off like trooper with not much goss at all

the best trends seem to attract the least amount of attention
 
1260's 1:1 & 1261's 1:-1.272 ratio
appear next likely levels that may hold a reaction
 
probabilities: participation lifted, volume lifted, volatility lifted

ratio conforming

=trend to a minor degree (...ish...so far)

 
a third 1:1 ratio in a trend move is extremely rare

if the front month contract moves above 1265.74's then the 1:1 is broken and i'll be looking for a larger return swing before we can get to 1261's

if it breaks without making the basic previous 1:1 ratio then that adds weight to an idea of much larger downside targets
 
$XGD components woke up with a too-much-sugar hangover this morning.... surpriiiiise !



decision time for bulls, give-in to get-in lower ?
 
looks like we have a small swing-low in place, no positions open

suspect we'll rotate in a small range before making further lows with 1185's as target
 
1271's represents 33% retrace of the current/recent downswing, it's also a two-swing 1:1 ratio of the most recent swing 5th may day/night sessions

if price can attain that level with $DX remaining bid then i'll look for another sell there, if we get impulsive bid thru that level then i'll take that as a cue for longs and look for clues that we have a significant swing low in place today (unlikely)

keeping at hand the idea that no inverse or parallel correlation to $dx is required
 
Nicely done yesterday. Trending with the trend and adding as you went along.
 
peter2 said:
Nicely done yesterday. Trending with the trend and adding as you went along.
Click to expand...

the scoop we're in today lacks any impulsivity, even so, better momentum on indexes

the long play is active upto 1271's i think, but, i dont want to waste a few days as more surprises downside than sudden bids i think.....still, you know how bunnies like to nibble
 
This has got to be putting some pressure on the commodities and the currencies....The DX actually reversed a few ticks after filling the little gap back in Dec 2014

If the bullish wedge plays out, we have a target of 98.59. this would of course be dependent on the Fed maintaining the their accomodative yet steady pace of rate increases....
 

Attachments

  • DX May 10 2016.jpg
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we may have a small zone to play before a big foot steps on the little folk again

 
I've got a few little areas that one might look for limit sell....once above 1279, i'm thinking of longs as shorts should get squeezed....

I'd like to see a fatter profile at these levels before a bit of short covering....the low is pretty much a 'poor' low, such as it should be revisited.
 

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  • GC 06-16 (30 Min) 5_10_2016.jpg
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  • GC MAY 10.jpg
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CanOz said:
I've got a few little areas that one might look for limit sell....once above 1279, i'm thinking of longs as shorts should get squeezed....
Click to expand...

just got chopped out several times ......small size and scale....song of the day

but......i win...i beat them eventually
 
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