Gold Daytraders

[peter2]

Whoa, you've stopped and reversed. I bet you crunched the gears. Are you heading into resistance?

 

[Joules MM1]

Whoa, you've stopped and reversed. I bet you crunched the gears. Are you heading into resistance?

oh yes and game on with $DX .....gdp's up tonight so there's that ....but my main boo is to the downside until we get retail to see the light at the end of the tunnel then the mainstay will be north

mixing the timeframes a tad here with dx in tow

 

[Joules MM1]

how many swings with a broken bat ?
lots..of bunting !

 

[CanOz]

A composite of the Comex contract...

 

[peter2]

So you're going down with the trend, waiting for price to hit the huge support level on the daily chart, maybe even push it a little lower so that retail will short the obvious breakdown and then join the smartie's buying from retail and ride it up to 1300?

While all this is going on, you're changing your mind twice a minute using the 30 second charts. What a plan.

 

[Joules MM1]

So you're going down with the trend, waiting for price to hit the huge support level on the daily chart, maybe even push it a little lower so that retail will short the obvious breakdown and then join the smartie's buying from retail and ride it up to 1300?

While all this is going on, you're changing your mind twice a minute using the 30 second charts. What a plan.

basically, two relative sizes and two contexts and if they get out of whack the gist is to get flat and close off the chart .....it can go pearshaped quickly in dist/accum zones and an excellent way to make donations
as soon as that signal comes time to close up shop and wait for the furniture to shuffle itself

 

[Joules MM1]

the P2 Diet

$DX liked the taste of the GDP #'s than pm's

 

[Joules MM1]

view



Commitment of traders:
comparable studies for COT: https://www.aussiestockforums.com/forums/showthread.php?t=12971&page=16

based on previous studies of the size within the COT report, fair to say,
the positions do not reflect an immediate reversal sentiment, relative to the time taken to build the COT positions
lending to the idea we have much more to go to get south and shake the tree...

 

[Joules MM1]

locally $XGD comps follow suit with two large froth-wiping % days in two weeks reflecting the knee-jerk get out by hot money...... the back the back-bones still havent snapped for many retail holders? probably!



http://www.smh.com.au/business/mark...sandpasx-all-ordinaries-gold-sub-.html?page=2

 

[Joules MM1]

dx

 

[peter2]

After tonight's low US NFP number and the subsequent moves in the markets. I can only imagine the following scenario...

Joules, Joules are you with us?... There's no pulse, get the paddles... everyone clear.... kerthunk.....
beep ... beep... beep.

There's a pulse, its weak, but strong. Thank goodness he wasn't heavily short or we wouldn't have him back with us.

 

[Joules MM1]

After tonight's low US NFP number and the subsequent moves in the markets. I can only imagine the following scenario...

Joules, Joules are you with us?... There's no pulse, get the paddles... everyone clear.... kerthunk.....
beep ... beep... beep.

There's a pulse, its weak, but strong. Thank goodness he wasn't heavily short or we wouldn't have him back with us.

man flu missed the whole thing !
impressive move tho and if this is for real we'll see continuous impulsive trend all next week ongoing, otherwise, looking for signs of a trap ....commercials back off a fair way this week again with only 214k v 290k STO's at the peak of the daily swing

game on

 

[Joules MM1]

idea



data courtesy http://www.timingcharts.com/

the equality events at a peak in both sides of the COT contract ...not just any peak, a bear market bounce peak

 

[kid hustlr]

Thought u were long term bullish J?

interesting chart

 

[Joules MM1]

Thought u were long term bullish J?

interesting chart

yes, that long term maybe ending - may have ended ....the ratio idea has credibility with an impulisive
dive below the box - it's a 1:1 inverted to the pause (caused by the GFC) of the altime high uptrend
and i like the idea from both the ratio and the incredibly extreme positions of both major groups
although the retail are not as gun-ho this time around
CMC's cfd front month contract showed 73% buys all clients this morning around the US cash open
very little fear in the metals scene and most are seeing a new uptrend but i think we have an equal
probability that we've complete a bounce in a very long term bear market

obviously, taking out the high of the ratio (box) negates the idea, even so, the enthusiasm and extreme
sizing to be long and the Commercials opposing trade should be treated as a claxon

hoink

 

[kid hustlr]

Thanks J,

Keep your thoughts coming through.

The time frames I'm monitoring give no reason for me to be concerned in my (very small) gold stake. An impulsive downside move over the coming weeks would change this view however.

 

[Joules MM1]

@rvm
some weekend dial turning

 

[Joules MM1]

referring to the third chart above, the try-angle try-hard thing should see bids protect 1315's nearterm as a typical measure, fall thru there opens break of the base and whoopsie stops n sells below

 

[Joules MM1]

hat-tip to @RVM__ for the find

 

[Joules MM1]

you could call that the grand buy-the-dip including BTC (buy to close)