Gold Bullish or Bearish

[Patuca 13]

Is the BEAR trend over?

 

We've had a trendline break,but the price is still a long way from 1520.....the 200 day MA.

 

Short term we have 17 days UP to the swing high, then 11 days DOWN to the swing low.

We need more than 11 days to the next swing high...... and then Bobs your uncle.

 

In the mean time, theres a TURN date Monday/ Tuesday (Gold Uranus 72 degree)

So Buy for scalp to 1400

But if the market opens down on Monday , wait for the TURN.

No shorts.The trend is UP. :doh:

I cant wait for Monday :missy:

 

Perhaps I should add a bit more on TURNS......... for the workers.

We dont know which way it will TURN

All we know is if the market is up, it will TURN down, and V .V.

So we have an idea of direction. It works 70% of the time.

 

And next Friday there is lots more action.

regards

bobc

 

PS. DOUBLE DOG WARNING (copyright Patuca)

All Index traders be careful next week.

 

PSS. Triple Dog Warning (copright Bob )

The Gold bears (SunTrader ) should review their position. :(

 

PSSS.The above should not considered as advice.It is merely the ramblings of a member of Suicides Anonymous.

i may soon get to say hello and goodbye to MM SL in the ES...sail on silver girl...sail on..your time has come....

[bobcollett 10]

Bob,

Which dogs might "start running"

 

Are they the dogs of the Dow?

Are they the dogs of war?

Are they the Hounds of the Baskervilles?

The hounds of hell?

Are they the dogs you bet on at the greyhound track?

1001 dalmatians?

 

It can't be these can it?

 

30 Of The Greatest Movie Dogs

 

Are they Diamond Dogs? ...."beware of the Diamond Dogs"

 

 

Hi mitsubishi,

No, these dogs are not similar to the Dogs of the Dow.

They are bad investments which someone is now promoting.

Everything else is UP, so beware when they start promoting the "dogs"

And the biggest "dogs"..........Gold and Silver.

regards

bobc

[Ammeo 10]

Finally im seeing some Bull market in Gold and Oil after almost an year. Gold is still a bit fishy as no strong upward trend hasnt been confirmed yet but it seems its not gonna fall below $1250 mark anymore..

[bobcollett 10]

Asian has closed UP slightly.... more sideways.

 

Somebody posted the inverse correlation between Gold and Oil.

The attached chart, complements of Spread Betting Magazine (FREE) shows a balance at 14.87,and at the moment its about 12.

Either Gold must go down or Oil must go up, or a bit of each to get back to equilibrium.

So heres an easy arbitrage TRADE for the more sophisticated member (please ignore all this Patuca).

I think SIUYA and mitsubishi are spread traders because of the Tax laws in Britain.

So they've probably done this already.

BUY Gold and SELL Oil..

regards

bobc

 

PS Its my birthday next Saturday and theres this book, recommended by Silver,

titled "A guide to Stock Market Acceleration Points"by K Wong.It costs $7500 ..times the Rand exchange rate of 10 = R75000. Thats too much for me.But think of me if you make a killing on the above spread bet. ;)

[bobcollett 10]

Stopped out at 1370 for 5 point Loss. :doh:

I had already picked a name for my new horse...Uranus

Now I might have to sell my favourite....Lunar.

Back on suicide watch.

And Oil also down.

This correlation cant last.

 

The problem is when I explained my whole trading plan to my wife on Sunday evening, she said "Do the opposite !!!".

 

Plan B

Still bullish

I will post a Gann overlay to find SUPPORT.

regards

bobc

[bobcollett 10]

The fox hunt.......

My stock broker, golf partner , domino opponent and friend, sent me this today, after my Gold trade....

 

regards

bobc.

[Patuca 13]

Stopped out at 1370 for 5 point Loss. :doh:

I had already picked a name for my new horse...Uranus

Now I might have to sell my favourite....Lunar.

Back on suicide watch.

And Oil also down.

This correlation cant last.

 

The problem is when I explained my whole trading plan to my wife on Sunday evening, she said "Do the opposite !!!".

 

Plan B

Still bullish

I will post a Gann overlay to find SUPPORT.

regards

bobc

capt Bob how come you seems to always be trying for home runs? When the market gives you 15 or 20 points how come you don't lock that profit in? You can always enter again if the trend continues. gold tends to have alot of overlapping bars...mini ranges..consolidations..etc and then the occasional out of the ball park homerun. ..but most of the time no home runs....think about it.....meditate deeply..

[bobcollett 10]

Wouldn't that be an act of confirmation bias?

 

I agree. Bad trading :crap:

regards

bobc

[bobcollett 10]

Hi Patuca

I am meditating deeply :missy:

I see this small angel with wings coming through the window.

She has both hands full of $$$.

On one of her wings is a date in Roman numerals .... its hard to read.

It looks like 23/8. Got it.

On her other wing written in Sacred Geometry is BOB

She is bringing me my birthday present.

And I wake up and my coffee is cold.

kind regards

bobc

[Patuca 13]

Hi Patuca

I am meditating deeply :missy:

I see this small angel with wings coming through the window.

She has both hands full of $$$.

On one of her wings is a date in Roman numerals .... its hard to read.

It looks like 23/8. Got it.

On her other wing written in Sacred Geometry is BOB

She is bringing me my birthday present.

And I wake up and my coffee is cold.

kind regards

bobc

the interpretation: small angel signifies scalping or smaller trades. both hands full of money...means scalping may fill your hands with cash like an ATM machine...the date 23/8 means you might should consider going for a RR 2.875:1 (23 divided by 8 could round it off to a 3:1 RR angel won't mind), the letters BOB mean Bear Or Bull. The present is the strategy the angel is giving you on your special day..you waking up to cold coffee means your previous methods may not in line with the market and leave a bad taste in your mouth so much so that you do not want to drink it anymore but rather might toss it out the window.

 

patuca

Edited August 20, 2013 by Patuca

[Patuca 13]

HAPPY BIRTHDAY Capt Bob!

[bobcollett 10]

Tomorrow night is a "seasonal" BLUE MOON

Thats the third of four Full moons in a season

A season is from the soltice to the equinox .(or V.V )

The last time we had a seasonal Blue Moon was on the 21st Nov . 2010

Gold went UP 19 points

regards

bobc

[bobcollett 10]

In the mean time....

WHAT IS THE TREND??

 

We have 16 days UP

11 days DOWN

9 days UP

The UP days must exceed the down days for a change in trend.

 

NO CHANGE.....its a bear

And we have that ugly gap in volume which CAN be filled (yellow arrow)

 

The purple arrow shows my predicted TURN.day

At least I got that right .

The systm works. Its me that preempts the results.

Resistance is at 1384

BUY at 1387

SELL anytime..... its a bear

 

Patuca says I must go back to Brooks and scalp

Thats the orange arrow....inside bar...

BUY above the break and SELL below

.

I think I can get a home run bullish.

And mitsubishi has questioned my judgement ..... and maybe he's right.

Lets see.

regards

 

PS SunTrader is still not talking.

PSS. And for all those members who have not wished me happy birthday for the 23rd......dont walk down a dark alley.

[bobcollett 10]

Elliot Wave has a TOP in the Euro

If the Euro goes down , the $ goes UP, and Gold goes down.

I am now totally confused

Also,today, we have a LOW below Tuesdays LOW.It needs to CLOSE lower and the trend is DOWN........based on a Gann swing chart

The Gann swing chart has one rule.......it will go up while highs are broken, and it will go down while the lows are broken. Basics.

I add rule 2. End of day prices apply.

regards

bobc

[MightyMouse 12]

Elliot Wave has a TOP in the Euro

If the Euro goes down , the $ goes UP, and Gold goes down.

I am now totally confused

Also,today, we have a LOW below Tuesdays LOW.It needs to CLOSE lower and the trend is DOWN........based on a Gann swing chart

The Gann swing chart has one rule.......it will go up while highs are broken, and it will go down while the lows are broken. Basics.

I add rule 2. End of day prices apply.

regards

bobc

 

Bob,

 

It doesn't matter where it closes today (higher or lower) the trend is already down.

 

For the time being, the reasons for the rise in the price of gold never materialized. Gold bugs have to wait for the next crisis to get a bull market in gold.

 

For now it is a sloppy downward drift which will look bullish at times, but there are only hopeful bulls and hope doesn't belong in a trading strategy.

 

MM

[zdo 20]

“A tight correlation with the euro is hardly a ringing endorsement to buy PM's.”

(not our)

MM

(?)

[zdo 20]

:spam: :spam: :spam: :spam:

 

S pam Alert:

 

How Financial Reality Is Hidden By Commonly Used Theory and Jargon | Daniel Amerman | Safehaven.com

 

 

 

 

 

 

 

 

 

 

 

We now return you to your regularly scheduled posting...

[Patuca 13]

Patuca says I must go back to Brooks and scalp

Thats the orange arrow....inside bar...

BUY above the break and SELL below

 

Capt Bob not sure where you get that? The ATM strategy is to SELL on a break above the high of the previous bar when at the top of the range. That would be anywhere near 1380. Cover on any 15-20 point profit as it trades back towards the low of the range.

 

Now if it breaks out real strong out of the range above 1380 then a trader does nothing, as far as going long is concerned, until the breakout is confirmed, via strong bull bars with good volume or bull bar (s) then PB with a continuation.

 

so, basically a trader bets the breakout will fail and gets short at top of red box.

 

the range could breakout tomm. or it could go on in a range for several more days. a trader plays the ATM strategy until otherwise advised by the PA, hence betting on failed breakouts.

 

sooner or later it will break either north or south and sure the trader will be stopped out on his last atm strategy but he will have made some mula until the breakout does happen.

 

see the red box on your chart. at this moment it is in a range. most breakouts fail. hence the ATM strategy..

Edited August 22, 2013 by Patuca

[Patuca 13]

what a golden opportunity....sitting bull is walking out of the tipi...

[Patuca 13]

stop cpt bob! Do not do it. A person can still buy the breakout on any pb tomm. If no pb then with this huge strong bull bar a body can buy the open tomm and place a stop below the breakout... There is still time....big bull bars closing near their highs is another form of confirmation.

 

Ps remember my secret indian code in drawing with the tipi which mits was mocking? Well the sitting bull is now standing up....he may start running soon..

 

Cheers capt bob cheers..tomm is a bright day...

For a traders longterm trade he is sitting well if he bought the open of the next day after this BO 7 days ago. or even if he waited and bought the breakout yesterday of the pullback from previous BO. For a traders short term trades the ATM strategy worked well in the PB consolidation. Now Friday 23rd august another big BO. what will come next? Probally a PB of some sort. A trader might be prudent to exit the long taken when sitting bull stood up (7 days ago). Then wait to see if there is a PB monday, next trading session. If there is, then play the ATM strategy for the next few days on the PB. If on the other hand monday PA continues to show no PB then it may be prudent to get long at the market. Since odds favor a PB monday (but who knows could go either way) a trader that went long 6 or 7 days ago may want to consider not giving back any profits. If mondays PA continues straight up he can always re-enter.

[Patuca 13]

In general the ATM strategy is for ranges in areas of accumulation or consolidation. taylors techiques work well at these times...the longer term trades i.e. over several days are based on PB/BO opportunities as the market presents them. The longer term are trending strategies. A trader plays both. Why not? Why stick to one especially when so much of the time the market is going sideways.

[Patuca 13]

did i say the indices were bearish and the PM bullish? did i really say that?

[Patuca 13]

Please look at charts in next post and meditate..indices are bearish and gold..silver...etc is bullish...it may require some deep meditation..

 

Thanks Patuca

oops maybe I did.....

[Patuca 13]

Meditate..meditate..think

yep i for sure did....

[Patuca 13]

and sitting bull confirmed it with the secret indian code....oh well....:rofl: :rofl: