Gold cup with handle.. problematic?

17 мар. 2016 г.

Usually a cup with handle formation is a continuation pattern..

Usually it does not retrace more than 1/2 of it's previous advance..
The practical takeaways

• If we get a breakout of the handle with strong volume, this is a buy signal
  
• Until this breakout, expect the daily moves of gold to be sloppy and choppy
  
• If this breakout does not come and we cannot hold the handle, this could be a shorting opportunity
  

Yellen's dovish words pushed the dollar lower and gold higher.. will it stick? Watch these levels, volume, and divergence in RSI or MACD for clues.

Historically, gold and interest rates do not like to move in the same direction..

22 мар. 2016 г.

Сделка активна

I am going short on Gold here. Something isn't quite right... something stinks and I am basically looking for the price to drop through this bottom channel of the handle. If I am wrong (which could be) I will hit my stop and l will look for the next trade. STAY DISCIPLINED!

22 мар. 2016 г.

Заметка

I made a quick scalp trade but I am watching carefully here flat

23 мар. 2016 г.

Заметка

Bottom trend line clearly breached looking for the best short trade at the moment.

23 мар. 2016 г.

Сделка активна

Short 1 May contract at 1228.8

23 мар. 2016 г.

Заметка

I can't tell if this is a fake out or not. I have set up a bracket order to take me out at 1127.8 at a small profit or at 1170 in case this thing wants to fall for the floor. Position management is key.

24 мар. 2016 г.

Заметка

I am still short one May contract at 1228.8 with a bracket on both sides to protect profits. I will probably carry this position through the weekend

31 мар. 2016 г.

Сделка закрыта: достигнута стоп-лосс цена

I was clearly stopped out at a profit. I am trying to see if we can regain the bottom of the handle and move higher or if we continue to breakdown. Very key levels here!