Yes but that can be negated on continued weakness, one must see
a buy trigger and more importantly, price must impulse up and begin
to change trend. It will take quite some time to change the
momentum as I've discussed ad nauseum.
I've seen dead cats bounce better than GDX of late, it simply
waited for the 9 day to come down and then pressed lower. Respect
the trend until evidence changes.
yep, also that macd zero line acted as a barrier, it went up to
get close then reversed down on the 60min, poss buy area could be
the 23 even area...support there
Posted by disciple33 on 17th of Sep 2014 at 03:52 pm
Similar pattern on GDXJ. I tried trading the breakdown of the
triangle by going long JDST, but got chopped out. It was quite
volatile before it finally headed south in earnest.
Im in the same catagory here - had dust - got stopped out on the
bizarre whip then missed the dump....direction right, but poor
entry cost me a stop out. Steve - Id like to re-enter DUST, any
idea for a safe entry on that? Any chance we can twist your arm to
post some intradays with setup ideas for going short gold?
Hastur...I posted intraday charts yesterday that would have been
objective short entries once support was broken. This was
discussed in newsletter...listen to it since I discuss
GDX/GDXJ.
Yes - as I posted earlier - I got hit with the major
down-up-down whipsaw and got stopped out just post fed. I
was hoping to find a way to "safely" get back in. Looks like a down
AM...so that hope is prolly fading rapidly.
there is positive divergence on daily charts of $gold, this is
not a place to go short. I would be a buyer of $gold after a flush
to 1190ish area, and it may happen this week.
Im not sure about the Pos divergence thing. IIRC, for most of
the dump last year in the gold stocks, I think there was a
permanent pos divergence nearly the whole time on both the daily
and weekly charts and it just kept going down. I do think 1180 is
"inevitable", and Id certainly like to ride it down that far (in
DUST, that may be 20-30%!). Is anyone else watching playing this
currently? Would love to hear other's thoughts or plans to get
in.
try entering at a retest of yesterday's breakdown if that
happens. Or wait for a bounce in $gold. $gold is oversold on the
weekly charts but there is no positive divergence yet. A chance to
short was at a breakdown of 1270.
And as a possibility, if Scotland votes yes, $gold will fly like
a rocket. It's a close call out there.
Thanks! That was what I was looking at - DUST etc are now
outside the BBs on their intraday charts - I am hoping that
they either flag out or correct to an oversold level here so that I
can jump in with a tight stop. If you look at the daily chart you
can see that we flagged out this past week at the exact place we
flagged out on the way up - I suspect this symmetry to be repeated
and we hit the summer lows before we get a bounce and see "what is
what". That is about 6-7% lower from here.
GDX
Posted by amcap on 17th of Sep 2014 at 03:35 pm
I missed this one!
http://scharts.co/1uHEvUk
some divergence on the rsi5
Posted by himsa on 17th of Sep 2014 at 04:15 pm
some divergence on the rsi5
Yes but that can be
Posted by steve on 17th of Sep 2014 at 04:20 pm
Yes but that can be negated on continued weakness, one must see a buy trigger and more importantly, price must impulse up and begin to change trend. It will take quite some time to change the momentum as I've discussed ad nauseum.
I've seen dead cats bounce better than GDX of late, it simply waited for the 9 day to come down and then pressed lower. Respect the trend until evidence changes.
yep, also that macd zero
Posted by himsa on 17th of Sep 2014 at 04:39 pm
yep, also that macd zero line acted as a barrier, it went up to get close then reversed down on the 60min, poss buy area could be the 23 even area...support there
Not so easy
Posted by disciple33 on 17th of Sep 2014 at 03:52 pm
Similar pattern on GDXJ. I tried trading the breakdown of the triangle by going long JDST, but got chopped out. It was quite volatile before it finally headed south in earnest.
How would you have traded it, had you seen it?
Im in the same catagory
Posted by hastur on 18th of Sep 2014 at 04:27 am
Im in the same catagory here - had dust - got stopped out on the bizarre whip then missed the dump....direction right, but poor entry cost me a stop out. Steve - Id like to re-enter DUST, any idea for a safe entry on that? Any chance we can twist your arm to post some intradays with setup ideas for going short gold?
Hastur...I posted intraday charts yesterday
Posted by steve on 18th of Sep 2014 at 08:28 am
Hastur...I posted intraday charts yesterday that would have been objective short entries once support was broken. This was discussed in newsletter...listen to it since I discuss GDX/GDXJ.
Hi Steve - Yes - as
Posted by hastur on 18th of Sep 2014 at 08:43 am
Hi Steve -
Yes - as I posted earlier - I got hit with the major down-up-down whipsaw and got stopped out just post fed. I was hoping to find a way to "safely" get back in. Looks like a down AM...so that hope is prolly fading rapidly.
there is positive divergence on
Posted by junkie on 18th of Sep 2014 at 07:23 am
there is positive divergence on daily charts of $gold, this is not a place to go short. I would be a buyer of $gold after a flush to 1190ish area, and it may happen this week.
Im not sure about the
Posted by hastur on 18th of Sep 2014 at 07:38 am
Im not sure about the Pos divergence thing. IIRC, for most of the dump last year in the gold stocks, I think there was a permanent pos divergence nearly the whole time on both the daily and weekly charts and it just kept going down. I do think 1180 is "inevitable", and Id certainly like to ride it down that far (in DUST, that may be 20-30%!). Is anyone else watching playing this currently? Would love to hear other's thoughts or plans to get in.
Title: be careful shorting around
Posted by junkie on 18th of Sep 2014 at 07:43 am
try entering at a retest of yesterday's breakdown if that happens. Or wait for a bounce in $gold. $gold is oversold on the weekly charts but there is no positive divergence yet. A chance to short was at a breakdown of 1270.
And as a possibility, if Scotland votes yes, $gold will fly like a rocket. It's a close call out there.
Thanks! That was what I
Posted by hastur on 18th of Sep 2014 at 07:56 am
Thanks! That was what I was looking at - DUST etc are now outside the BBs on their intraday charts - I am hoping that they either flag out or correct to an oversold level here so that I can jump in with a tight stop. If you look at the daily chart you can see that we flagged out this past week at the exact place we flagged out on the way up - I suspect this symmetry to be repeated and we hit the summer lows before we get a bounce and see "what is what". That is about 6-7% lower from here.
GDXJ 20 day failure and
Posted by steve on 17th of Sep 2014 at 03:56 pm
GDXJ 20 day failure and double top on 60 minute prior to rollover. Then it broke the trendline.
daily divergence trumps inter and
Posted by roger on 17th of Sep 2014 at 03:59 pm
daily divergence trumps inter and intra-day eventually- macd still looks like a bucket pouring out
DUST looks the opposite
Just look at the US
Posted by steve on 17th of Sep 2014 at 04:11 pm
Just look at the US Dollar..not good for gold people.