Tuesday, November 11, 2014

My Gold Trading Strategy As At November 11, 2014

Will we adjust the Gold Trading Strategy from Short to Long?

Wow, did the Gold bear go away for the winter and allow the metal to rise a bit?

Today saw an improvement in the price of Gold, at present the price is just over $1.164.00 although it has been settling back for a couple hours.

There are many opinions as to what is causing Gold to be higher or lower, all we can do at this time is to trade what we see, sometimes the old technical chart patterns are the best clue.

I have three charts on this post, the first one is a CCI panel chart showing a pair of trend line entries and some divergence. Nothing spectacular about using a trend line for trading, anyways, a couple entries there that worked out well.

This next chart is interesting in that it shows that price rose to the resistance line and fell back, indicating that the bulls not yet moving with much enthusiasm.

The last chart shows that the weekly pivot is a strong influence for support and resistance, today price tried to cross the line and then fell back. My thinking is that many Gold investors are sitting back and waiting for something exciting to happen before they jump in..

Next I have three articles that have some excellent content. The first two are by Avi Gilburt a technical analyst/trader, I regard Avi's columns as a must read.

GLD: Please Do Not Overreact - Part 1 - Seeking Alpha (registration)

 Mon, 10 Nov 2014 16:31:50 GMT

It seems the precious metals market has purchased a one way ticket to 'bear-town,' and is fast becoming quite despondent. So, while many of you believe I am ...
Read more ...

GLD: Please Do Not Overreact - Part 2 (GLD) - Seeking Alpha (registration)

Mon, 10 Nov 2014 16:42:37 GMT

The one factor I keep hearing more about is that the move in gold is all about the move in the dollar. The premise is that if you follow the dollar, then you will know the movemen ...
Read more ...

Recently there have been some very large deliveries of Gold out of the Comex, this has caused many people to wonder the destination

There Are Strange Things Happening With The Gold Held At The Gold ETFs - Seeking Alpha (registration)

 Mon, 10 Nov 2014 09:50:15 GMT

It is a bit like a game of chicken between the bullion banks and investors seeking physical gold (mostly in Asia). If demand drops to levels that don't ...
Read more ...

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