Tuesday, March 28, 2017

Dollar Index Reversal

Bounce or Trend Change?

Almost scripted, the Dollar and its Index reversed course at 98.86
in the previously noted support area (uptrend line added).
Now that the upside gap at 99.53 has been filled,
there are no clear near term indications.


Taking Small Bites

Some small bites are bigger than others.
Shorting the junior miners via JDST
proved profitable for day traders.
Fibonacci resistance continues


Stay Tuned!


Wednesday, March 22, 2017

Dollar Support?

Three Technical Conditions:

1. Dollar Index holds above 99.23 (Feb 2nd), reverses direction
into inverse head & shoulders pattern, and trend changes.

2. Dollar Index breaks 99.23 but holds after closing 99.12 gap.

3. Gap close reversal is E-Breakout from declining wedge.


A drop below here means much lower for "King Dollar"
and Gold will rise above the Gold Bull Trap Range.

Stay Tuned!


Tuesday, March 21, 2017

Gold Bull Trap Range

Still stiff resistance!

Many months after Donald Trump's election victory
the Gold bull trap which ensued back then remains
a tough obstacle to overcome.  Even the basic
Fibonacci area has yet to be fully breached.


Stay tuned!


Gold ETF Swing Trade Edges

Consider the short side!

NUGT and JNUG must make big moves to regain recent highs.
DUST, and especially JDST, are much nearer to testing lows.
Smart play is to await an entry point and short the miners.
JDST may break its lows, but DUST will likely hold.


Mid-points for NUGT and JNUG are closer
to being their true trading range tops.

Stay Tuned!


Sunday, March 19, 2017

VIDEO - GOLD: The Trump Trading Range




GOLD: The Trump Trading Range

Gold correlates to Donald Trump's victory.
(Shaded area is the Trump election bull trap.
Broken lines are current high/low/halfway):


 
 
  

 

XAU and forward seller Barrick Gold (ABX):



Precious Metals



The history, in charts, behind
this Gold Bull Trap
is on its way.


Saturday, March 18, 2017

About Trendline Magic


Trendline Magic will be more than chart trendlines,
as important as they are. Patterns, Resistance
and Support levels, Trading Ranges,
and more, will be covered.