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Gold Daytraders

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FWIW, CL is in the same 'boat'....bearish below 44.00
 
bid couldnt even achieve a basic ratio length......rubbish lift inviting get-out trades and sell-side liquidity

 
CanOz said:
FWIW, CL is in the same 'boat'....bearish below 44.00
Click to expand...

CL has made a good move overnight, GC has rejected our first trade location but still looks to be balanced between 1270 and 1258.
 
gotta go down to get up...with this much mess, won't be precious about any swings

 
@CanOz

Ned Davis Research said:
‏@NDR_Research May 11

$DXY near range bottom, but good news priced in. Questions stronger $USD view. See opps for US vs Int stocks
Click to expand...



how much more can the USD stretch....history sez: a lot !
 
Just my on Gold guys...

I think we have descent move down in the offering with good R/R Cheers
 

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Will Geisdorf said:
‏@wgeisdorf 14h14 hours ago

How quickly hedge fund sentiment can shift in 5 months...short dollar trade starting to get crowded! @NDR_Research
6 retweets 8 likes
Click to expand...

#$DX
 
big pull on local $XGD .....inline with a bull ....probably cyclical bull.....healthy retrace

gold v $DX



context context context

and relative size
 
the 1185 i listed as my retrace target is now adjusted ....selling is steady and consistant, no need for anymore fake lifts and whips, traders are either in for the ride or alighting at the wrong stop

two basic ratios 1:1 would have us reach min 1226's to 1129's zone for an attempt to bid up price which is likely to fail as the auction seeks to cull weak longs and attract weak shorts

a better target is the 50% level 1175's of the whole lift from december
then 1155's of the major impulsive leg, with further reach at 1135's

a ratio that hangs over from the major downtrend maybe active, as unlikely as it is as we're in a new game it is still worth observing at 1159's (see daily view)

$HUI and $SILVER should confirm the move ....they appear to be sync'd
already some $XGD comps are pulling back, after a strong hit last week, the betas should at least track sideways as they consolidate to move higher


 
1217's has a harmonic thing for a bounce but looks more impulsive in the larger downswing and am playing the rules of continuation

 
much of the travel has been done, but, not enough of the psycho-babble traversed as seen thru the cfd positional lens (front month contract via CMC) which (stamped) 78% BTO all clients

50% common levels

 
no biting to get thru the ratios overhead

(and no cheap edu either ...yet

)
 
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