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Gold Daytraders

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breaking the 127.2 level suits me to add size, prev sto's are scaled, what the dx does now tend to determin if this is a zone to bid xauusd

always a work in progress

gold size-up v usd 100619.png
 
Joules MM1 said:
......levels being levels etc

#biasrisk

View attachment 95199
Click to expand...
travel plans
1357's hit, def on a thrust, with background bearish cfd positions, a lot of short covering
time to find out if this trip is the real deal, USD has been moving upward with gold (normal in small moves)
a breakout of the wedge/tri shape will bring about more short covering (BTC + BTO's) we should expect to see momo as sideline money rips in ... first we should get a small retrace today thru monday to invite sellers so applying simple ratios to find a "tell"

gold travel plans 140619.png
 
with the 1357's target reached and rotation on 1358's, today is a confirmation day action-wise, with what was a ostensibly (altho not fully) an outside-down day on friday, with the front month contract taking out 1329's (+ 4p for the forward), i'll consider that a confirmation in toto... we're now on the last leg down of this wedge thing

the 6pac continuing it's climb and silver rotation, we can consider the return target to complete this longwinded sideways wedge thing as now 1231's (+/- cupla points) adjusted from the 1219/1222's price and we have to play that as we go, at least there's a road map for risk...so far
 
solid bifurcation this morning tween bids/offers (what else would there be!) so while bid is attempting to mount the resistance each lift is being sold into so it's not a case of not enough bids to get price higher or hesitancy for price discovery, it is simply a case of offers waiting for strength, looks like 1358/53 zone offered enough time for longs to exit before we go down to test 1231's
 
stops were close by at 1358's that was a big move, missed most of that swing looking for 1396's next leg

price the final arbiter on every idea
 
IMHO if gold stays within it's huge corrective pattern, then 1550s are a reasonable target. If this is the start of another impulsive move then the min target is 1800 with 2000 easily reachable. The bullish outlook is promising, but only if price stays above 1270. Monthly chart.

gold2006.PNG

Edit: I see copper has also started up from it's recent low. Palladium is off and gone.
 
Aussie gold continues to expand on it's all time highs, up a further $23 today and now $2028.

I wonder when we will see this historic event in the MSM.

My MOY jumped up over 20% in the last two days. Interesting times.

Edit: Can't believe this, Aussie gold price just mentioned on ABC business news.
 
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