Thursday, September 14, 2017

Although Gold is holding above 1320, momentum is weakening on the 1H chart. There was no strong rally and market is very quiet so revisiting 1320 or lower is not out of the cards. If  the price closes where it is at now then there is hope, if it goes down after the close then a lower level may be expected by tomorrow. I would like to point out that Gold has not closed below the 20 MA since the rally from 1200 started so it is required that we stay above that level on a daily close basis in order to be hopeful about resuming the uptrend. A daily close below the 20 MA will turn the market bearish.
Posted by at

23 comments:

  1. jorge lugoSeptember 14, 2017 at 3:39 PM

    here we go, up to 1358

    ReplyDelete
  2. jorge lugoSeptember 14, 2017 at 3:46 PM

    maybe I overdo it, 1338*

    ReplyDelete
  3. omar kSeptember 14, 2017 at 5:13 PM

    have a feeling it will at least close the gap tomorrow , i just hope it doesn't make a leg down to 1320 again my account won't hold .

    ReplyDelete
  4. CesatoSeptember 14, 2017 at 5:34 PM

    at what level did you release the short position?

    ReplyDelete
    Replies
    1. omar kSeptember 14, 2017 at 5:39 PM

      on and off , last release was 1326 or 27 ...it was the first time to hedge ever and it was very confusing with the shake on the news, took a few hits there yet saved my account in the past 48 hrs.

      Delete
    2. CesatoSeptember 14, 2017 at 5:41 PM

      OK just keep an eye on 1337, that is the next resistance.

      Delete
    3. omar kSeptember 14, 2017 at 5:55 PM

      will do , i thought it was 1335 though will keep an eye on both thanks Cesar

      Delete
    4. CesatoSeptember 14, 2017 at 6:31 PM

      Around there. Supertrend is at 1336.5.

      Delete
  5. UnknownSeptember 14, 2017 at 5:52 PM

    North Korea has just fired a missile according to BBC #23 minutes ago

    ReplyDelete
    Replies
    1. CesatoSeptember 14, 2017 at 6:32 PM

      That is interesting news for tomorrow´s move.

      Delete
    2. UnknownSeptember 14, 2017 at 6:43 PM

      So that would effect the chart only at the NY opening ? I wanna go to bed but I dont want to miss out on the possible opportunity :(

      Delete
  6. CesatoSeptember 14, 2017 at 6:48 PM

    It´s having an impact now, I would say you could sleep, next resistance is @1336 and it´s already going up there.

    ReplyDelete
  7. jorge lugoSeptember 14, 2017 at 7:21 PM

    Are you going to update? Or maybe tomorrow morning?

    ReplyDelete
  8. CesatoSeptember 14, 2017 at 7:24 PM

    Tomorrow morning

    ReplyDelete
  9. UnknownSeptember 14, 2017 at 8:49 PM

    Price fell back to 1330 so its a good buying opportunity i guess

    ReplyDelete
  10. UnknownSeptember 15, 2017 at 12:03 AM

    No action with NK new missile launch? Why is that?

    ReplyDelete
    Replies
    1. UnknownSeptember 15, 2017 at 12:45 AM

      i already posted the reason for that :D

      Delete
    2. CesatoSeptember 15, 2017 at 5:17 AM

      I don´t see your post? where is it?

      Delete
    3. UnknownSeptember 15, 2017 at 7:43 AM

      when i said the bull rally may not because of the NK, its because of irma.

      Delete

Disclaimer: This site is not intended to provide professional advice nor to lead users to either copy or follow the trades herein posted, it is essentially conceived to share thoughts and ideas for non-professional traders and become a non-official knowledge base for individuals interested in testing and improving their own skills in the spot Gold market.

Subscribe to: Post Comments (Atom)