Daily Trade Triangle Alert On Gold

Posted on by The INO.com Team

Our short-term Daily Trade Triangles signaled today at $1,1O7. 54 to cover all short positions and stand aside. For short-term traders we are neutral on this market. Choppy market conditions.

46 thoughts on “Daily Trade Triangle Alert On Gold”

  1. Gold, At A Major Tipping Point:

    Metal stocks didn't make as big a move as they might have between Monday and Tuesday, but according to the patterns we're mapping out, this actually places a more bullish possible scenario on the table for the rest of the week. This is especially true for gold has arrived at a major tipping point. For if the price of gold holds overnight and breaks above $1137 at market open, then we'll see a MAJOR rise in gold and metal stocks (and in this scenario, the markets would move upward with gold as well) over the next day or so before a correction at week's end. And next week would start with a big rise. So, this would be a very bullish scenario.

    However, if gold opens in the red tomorrow, we'll look for a big sell-off for a day or so, followed by a rebound at week's end and then likely, a correction to start next week. Obviously, a less bullish scenario.

    Incidentally, $1137 is important because it has been a major resistance point that has rejected numerous rallies over the past few months.

    In either case, the Alphas (my proprietary signals which can help to predict direction as well as the size of moves in stocks, commodities and indices) indicate that gold WILL make a BIG move over this next day and a half of trading (ditto for the HUI and broad markets), followed by a reversal of this initial big move at week's end.

    Please feel free to visit our blog to follow our detailed forecasts on gold and precious metal stocks!

    Nicholas Winton,
    Hedgehog Trader

  2. Our forecasts suggest we're going to see BOTH gold and the broad markets correct over the next couple of days and then rebound at week's end.

    Nicholas Winton,
    Hedgehog Trader

  3. weekly up trend is close to eyes .
    sign yet for weekly up trend hasnt appear yet , it will be clear closely to be fixed !

  8. if you have missed any previous set up , dont be angry as april is having the top for gold , but then go a way til july , bye %

  9. On wednesday there will be an surprise , down trend supposed !!!
    as washington arrived to an agreement with russia to lower the nuclear weapons , this must low down gold as an political signal !!

  10. whats the next move ? down from 1137 to 1116 , setup at 1116 to 1126 , then down to 1105 !!! the last will be setup for 1161 ( just suggestion plan )

  11. now gold has reached 1134.60 High night monday , shall it complete to 1137 up final period tommorow Tue ? Macd indicator hasnt close the circle , there is tue the final , I mean it will be the the last profit taking day before going to another set up piont at 1105.07 down!!!!.

  12. Gold and silver will rocket this april to 1161 , then the market will roll down to 1100 until july / 2010 .as it will go up to :
    ( 1227 * 1.25 = 1533 yearly profit through rabbit jump )but fistly to 1333 by this year 2010 , happy yearly profit for every body , have a nice easter.

  13. curves and MACD indicator will mostly give a periodical buy signal on tuesday !!! as it will be profit taking , for whom are buying before just watch the market period end at 1137 !!

  14. as clearly from the curves , gold will over to 1137 , maybe on Tue 6 april , the start of the trade was from 1092 as it was setup point !!

  15. again as not habitual gold and dollar are in the same direction !!!
    that was on the period of Mon - Fri which move both together up nither it was in the down zone .
    and as Macd indicator has up on first april the market get up .

  16. Gold and silver will rocket this month!

    Everyone missed the start of the trade and I suspect will miss more of it.

    Also, our forecasts suggest we should expect a broad market shake-up around mid-April.

    Nicholas Winton,
    Hedgehog Trader

  17. after the end of monday , Macd indicator hasnt give us an clear up signal to fix market up move !! we have to watch for another day , lets see tuesday as market close may be get between 1106.7 - 1109.8

  18. general gold trend in april if MACD indicator not acheived in the coming days to up zone , will be down to 1100 !!!

  19. if gold up 1122 so maybe will reach 1170 dramatically , but still 1162 is a resistance line value !!!

    1. Bob Hoye sees 1140 and then 1182 as two crucial closing price targets to watch out for. once 1182 is taken out, new highs to 1265 is a reasonable price target.

      i think we'll see a new high for Gold (in US Dollars) before the end of May.

      Stock Markets , Oil, Gold prosperity plays? nope. they are rising in reaction to the weak US Dollar. the US Dollar Index doesn't tell the story. all the components in the Index are losing purchasing power. it's a question of which currency component is falling slowest.

      gl

  20. Technically, April Comex gold futures are still in a four-week-old near-term price downtrend on the daily bar chart. Solid chart support is located at last week's low of $1,084.80. A close below that key technical level would produce fresh near-term technical damage. For April gold, shorter-term technical resistance is seen at the overnight high of $1,113.80 and then at $1,120.00. Buy stops likely reside just above those levels. Stronger chart resistance is located at $1,133.90. Sell stops likely reside just below shorter-term support at the overnight low of $1,103.10 and then at $1,100.00. Stronger chart support is located at last week's low of $1,084.80, basis April Comex gold. Today's key near-term Fibonacci pivot level for April gold: $1,108.00.

  21. so its cover your shorts now? look at gold and silver go now.....hmmmmm ill hold my gold silver precious / industrial metals stocks for now...im willing to bet that by the end of the year most of my stocks are doubled..... buy and hold ... all is well thank you china india etc..... demand will be long term up so im holding ..... triangle or no triangle wait till end or before end of year ,,, youll see....

  22. 55MPH,

    Thanks for your feedback.

    Not sure if you watched this video I made on gold about 1 month ago. This is what I think is happening to the market. Our trade triangle technology is automated and just follows the alerts.

    Here is the video you should watch: 5 Reasons gold will not go up

    http://broadcast.ino.com/education/5reasons/

    Enjoy,
    Adam

  23. Adam, what's up? you didn't like my post about being whipsawed by the trade triangles? it appears to have been censored.

    as for the US dollar index, trade triangles 100% rating is a signal to sell, if not sell short.

    don't be surprised to see Gold trade to new highs in the next several months. technical analysis is sometimes like the age old question of the chicken and the egg.

    gl

  24. I'm confused by your alert on covering short positions in gold.
    You've said in the same alert that the dollar is headed higher.
    Are saying that gold is going higher with the dollar.

    Please clarify your gold alert.

    1. Ken,

      Thanks for your feedback. This will help clarify our approach.

      Not sure if you watched this video I made on gold about 1 month ago. This is what I think is happening to the market. Our trade triangle technology is automated and just follows the alerts.

      Here is the video you should watch: 5 Reasons gold will not go up

      http://broadcast.ino.com/education/5reasons/

      Enjoy,
      Adam

  25. Cover short positions?
    I'm sorry but I don't understand what this means.
    I'm a novice and haven't learned all the lingo yet.
    Neutral as far as short-term trading is concerned? By neutral does this mean you don't know or you don't care? These are ambiguous statements that, I'm sure mean something, but, but for the life of me, I don't know what.

    Could someone translate this for me.

    David R.

    1. David,

      Thanks for your feedback.

      Our trade triangle technology is automated and just follows the alerts.

      Not sure if you watched this video I made on gold about 1 month ago. This is what I think is happening to the market.

      Here is the video you should watch: 5 Reasons gold will not go up

      http://broadcast.ino.com/education/5reasons/

      Enjoy,
      Adam

  26. This weekends insights were a bit confusing.
    US dollar index could hit a high of 83.90 and this one to cover all Gold shorts.
    Could you comment.
    Thanks!

  27. Thank you for your market insight.
    I am a bit confused about this fridays insights.
    One is the Dollar index could hit 83.90 and this one regarding Gold, cover all short positions.
    Could you comment.
    Thanks!

    1. Bon,

      Thanks for your feedback.

      We have very choppy trading conditions in gold at the moment. Our trade triangle technology is automated and just follows the alerts.

      Not sure if you watched this video I made on gold about 1 month ago. This is what I think is happening to the market.

      Here is the video you should watch: 5 Reasons gold will not go up

      http://broadcast.ino.com/education/5reasons/

      Enjoy,
      Adam

  28. Funny - exactlly a wek ago you posted that EVERYONE should take a short position on gold for the NEXT 12 months. You chabged it now. How comes?

  29. Yuemin,

    Thanks for your feedback.

    Not sure if you watched this video I made on gold about 1 month ago. This is what I think is happening to the market. Our trade triangle technology is automated and just follows the alerts.

    Here is the video you should watch: 5 Reasons gold will not go up

    http://broadcast.ino.com/education/5reasons/

    Enjoy,
    Adam

  30. I think trade triangle technology is good for a stock forming a clear trend. As for gold, it is in trading range or sideways, in midterm, in my opinion. So using swing trade, or buy low and sell high, would be a better way to make profit, unless it break down 200 dma.

  31. Thank you for all of your very informative comments and advice.
    As yet , I am not in the financial position to subscribe to Trade Triangles but I will be later in the year, when my finances are sorted out.
    I hope your successes continue this year and I look forward to being able to join you.
    Regards,
    Scott Ruthven.

  32. Hey there Adam,

    Was just wondering - can you please give your comments/opinion on the triangles showing to cover while the triangles for the dollar are pointing up?

    I'm keeping in mind that the dollar & gold aren't moving in lockstep always - or maybe right now for that matter.

    Oil was especially a mystery this week despite the inventory reports & dollar rise. Took me by surprise - still in the black however!! 🙂

    Thanks,

    Chris in Chicago

    1. Chris,

      Thanks for your feedback.

      You are right. the lockstep between gold and the dollar is not there all the time.

      I think that gold and oil are stuck in a broad trading range.

      Not sure if you watched this video I made on gold about 1 month ago. This is what I think is happening to the market.

      Here is the video you should watch: 5 Reasons gold will not go up

      http://broadcast.ino.com/education/5reasons/

      Enjoy,
      Adam

      1. Over the past month, I've hated this market like Brussle Sprouts. I really hoped the 1150 resistance would hold, but instead, we went into a "melt up". That was my "worse case" scenario.

        I whole-heartedly agree that the sidelines is the best 'investment' we have in this market. Perhaps Earnings Season will give us some insight, but unfortunately, previous Earnings Seasons have been construed into "Profits Season".

        Your video on gold was excellent, but even more telling is when you see washed up actors hawking gold on TV, it's a pretty stong indication that its seriously old news.

        Oil (and coal) are looking more predictable these days (seeming to be less volatile) and having lagged the bulk of the rally, may be coming into their time.

        I'd love to one of your great videos, Adam, on Oil and Coal.

        Thanks for eveerything!

        David

      1. This is what some were saying, it's easy to get whiplashed on gold, partly IMO, because the technicals are 'painted' by bullion banks,etc. Watch what happens Friday, non-farm payrolls released. It's a day they've been using to group their forces.

        Also it's been held back numerous times due to Greece... if that's off the table for awhile, then what will hold it?

        News today: China demand is 'smowballing'....

        If gold doesn't go up just yet it will be because of manipulation on the Comex, especially on Friday!

        Anyways thats my opinion., Have a nice day.

      2. GUESS WHAT! THE VIDEO WAS WRONG ! GOLD BEAT THE HIGH OF 1226.37 ON MAY 11TH 2010 ! NEW HIGH WAS 1232.50 ... DISREGARD THE VIDEO ...

        1. Lou,

          Thank you for your feedback.

          In my last post I said that nothing elicits more emotion and passion than the subject of gold. How true that is today.

          I have to go back and look at some of the videos which I've included for you to see to say that I was never long term bearish on gold. I'm not sure where that came from.

          In fact if you look at our Trade Triangle technology in our monthly trade triangles you can clearly see that we've been advocating a long position in gold since February 11, 2009 from $929.50, that's almost $300 ago!!

          Take a look at these videos and you'll see what I was saying and when I was saying it.

          I have been a trader for many years and one thing I do know is that you don't stick with losing positions. So let's move, I want the markets, only by moving Kenny make up a lot of money it's that simple.

          So let's all enjoy the upside movement in gold and may continue.

          Here is a list of all the videos I've made for the past several months.

          Enjoy,

          http://broadcast.ino.com/education/gold510/

          http://broadcast.ino.com/education/gold420/

          http://broadcast.ino.com/education/gold412/

          http://broadcast.ino.com/education/gold329/

          http://broadcast.ino.com/education/gold313/

          http://broadcast.ino.com/education/gold38/

          http://broadcast.ino.com/education/5reasons/

          http://broadcast.ino.com/education/gold211/

          http://broadcast.ino.com/education/gold1216/

          http://broadcast.ino.com/education/gold1118/

          http://broadcast.ino.com/education/spotgold1112/

          http://broadcast.ino.com/education/gold1110/

          All the best,
          Adam

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