36 thoughts on “Short-term traders back long gold”

  1. Such blather? The USD has to go into the dumpster. You short term traders are risking short term moves against the inevitable. Gold = Up - USD = Down. Nuff said!

  2. Anyone who uses the terms 'squiggly lines' and 'banksters' is most likely a zombie follower of some gold bug guru. Be warned. One of these days your guru is going to be wrong and you will be left holding the bag. Might be at $1650. Might be at $2500. But your guru will tell you to keep holding on for more and you are going to get blindsided. Stop losses and spreads are the only way to protect yourself in the markets. Do not bad mouth them.

  3. you had your chance today to sell at a record high, so you blew it, now it will close lower today, on it way to $1022, or lower. reference: "I just feel it my bones" May the force be with you. BEAM ME UP SCOTTY!

  5. I have just read lots of comments by very stressed individuals, "stop losses" means "take losses" buy incrementally as price declines , stop staring at squigly wiggly lines that the banksters draw for you to sweat over , as a simple trading strategy buy every 10 dollars down in slightly increasing volumes , then sell each lot at 30 dollars profit, then repeat, then repeat.... if you need stop losses and prozac you are trading WAY too big and the lunatic leverage used will wipe you out faster than hurricane katrina, take profits NOT stopped out losses. I haven't booked a loss on gold since 2006.

  6. I think mkt tells us every day and every secound of the day,,,,,,, A trader is like a solgr who have been caught around the enimies,they will kill him if he/she did't learn from every day's and every secound's moment

  7. looking for a drop of $200 huh??? wut the ......is that? you guys just type without any reference???...why didn't you put...selling gold at 1254.40 and buy back at 1022 if your predicton is so accurate... BS here 'n BS there and BS everywhere....so funny.

  8. IMO--sell at gold @1235, buy back at 1022. looking for a drop of $200. when the market crashes, which could happen this week, metals will be sold off with the market.

  9. I see the red trade triangle and I assume it is because the people sold gold and went to stocks and oil as the employment report dictates. Short term traders sell EGO and GLD?

  10. gold price has down for nearly 20 dollars? keep holding them...well..okay, keep them then...just don't understand the mindset of goldbugs...whenever the price up for 1 or 2 or even 5 or 10 dollars..everybody shouting like U.S dollar is giong to the hell...and celebrate it....but whenever the gold price down for 10 or 20 dollars...well..there must be a news coming UP..next...OOOOHHHH....gold manipulation...oh...JMP, HSPC, GS...bring down the price...well..I just can't understand it a freaking bit..when the time is up that means is UP, period.

  11. Everybody seems to feel they are some sort of market wizard and want to pick tops and bottoms. You will fail in the LONG RUN and at best break even over the years. Gold has moved to the upside since 2001 when we went to war in the middle east and plunged our country further in debt in which China capitalized and went long gold to hedge their position. Unless the global economy can some how create jobs all is lost. gold right now is in a run away bull market for the next decade in which it will turn into a bubble in my opinion.

    if you would like to be in front of that speeding train, by all means short gold with a long term bearish outlook. I will gladly take the other side of that trade and take your hopes and dreams well into the future lol

    In order to win think like a loser so you know his thoughts and take his money. This is a zero sum game. if your best friends last five trades where all losers forget gold take the other side of his next trade lol good luck

  14. FYI...Richard Dennis used to force his traders to buy on new highs which is totally counterintuitive to human nature as we all love a bargain. Using this technique, Dennis had huge drawdowns but was arguably one of the most successful traders of the last 35 years. Plus he was right less than 50% of the time and still made a fortune. The trade triangles can hurt, but ultimately you will make money if you use proper stops and money management.

    It sounds simple but it's true...buy when the markets going up, sell when it's falling, and go to the beach when it's sideways. None of us can force the market to make us money.

    Cheers

  15. While I use technical analysis as a tool, this just goes to show that buying based upon price action trumps buying based upon trend lines, break outs, etc. If you buy price weakness and sell price strength, by definition, you will be successful in 100% of your trades

  16. Adam's trade triangle alerts are the closest and best signals I've ever worked with......especially if you want to avoid acid reflux and severe indigestion trading every conceivable technical indicator out there,and there are a lot of them, a trader could easily find himself in total confusion and contradiction.

    The "Follow the major trend" formula is still the best.

    Thanks Adam for your good guidance and generosity.

  17. triangle are good in a trendy time and very bad in consolidation or other zickzack formation.
    Determining the trend via the bigger (daily/weekly or weekly/monthly) and only taking the signals in trend direction ia just taking half of the losses but can still be very frustrating and sometime on a trend change you can miss a quite big portion of the cake. So you need a filter. Has anybody a idea for a good filter.
    My feeling says that you shoud only take signals when a moving average of minimum 25 is clear in your direction.But i don`´t know how to measure it. Any other ideas?

  18. The USDX is rising, but so is gold. It is the de-coupling of their traditional inverse relationship that has made the news the last few months. Having said that, during the last major market correction, we saw everything tank relative to USD, although gold and gold mining shares tried to hang on as long as they could before joining the downward slide.

    We are due for a major market correction shortly, so if history repeats, we may see a spike in USDX and gold may hang on for the first 10% drop in the market, but then when the panic selling begins, we'll see gold and the mining shares take a hit as well. That will be the time for patient investors to buy as gold is in a definite long-term bull phase.

    There will be several trading opportunities in PM miners on the way to this decline with 10% gains in PM shares easily makeable over 5 - 10 day time frames and M and A activity gaining momentum. There have been dozens of such opportunities over the past month which has been a very good one for PM traders.

    Keep in mind that a recent study of the best trading methods (sorry...I don't have the link handy) concluded that long-term trend following is the most successful, and the trend is what the trade triangles tell us. It does work, but be prepared for some nasty drawdowns along the way, especially in this sideways market.

    Cheers

  19. Isn't there a reversed head and shoulders in USDX weekly chart? dollar up and gold up again? c'mon, gimme a break. That newly coming September song...well..we'll see, better not to see gold price head back down to around 1200 and then 1173 before we go for 1300...who knows.

  20. Hey Adam, Always look forward to your videos and commentary. By the way, that little jazzy intro music is pretty good. Is that taken from a song or composed for your videos? Keep up the good work!

  21. Gold is in a major bull market that could last another 5 to 10 years. Buy the dips and sell the rips. Major cup and handle formation points to ~ 1500 price target with scary corrections along the way. Adam any longer term projections from your side???

  23. I've been following gold daily since 2003. Gold is the only thing I trade. Adam is right that gold is flashing a buy signal here. It could explode higher at any moment. Of course, we shorter term traders could get sucker punched if gold suddenly suffers some short term profit taking. You just never know. That's trading. That's why you use stops and/or spreads. Personally, I am dollar cost averaging into my gold position at the moment. Whenever I get too excited I am usually off by a couple of weeks and right I feel the excitement bubbling up. To me that's a warning sign to slow down and tread carefully, not to go all in all at once.

  24. I have used the trade triangles when I subscribed last year. my observation? it does work, HOWEVER, when the daily triangle forms, it usually happens at or near the top of the days range. THEN, often (but not always) there is a short term top/pull back and THAT my friends is likely where you should enter. maybe it will be 50% retrace of the move. fib retracements are a good starting point to get a better entry rather than take the triangle immediately. in forex for example, no matter what way you enter the market, it goes against you unless you catch a news event scalp or whatever the case may be causing the momentum. even then, the slippage, spreads, whipping out and gunning for the stops, all these things are tricks the industry uses. remember, they know your entry, and where your stops are. another thing, the high frequency trading scam GS has does not help. for more on that do a search. the deck is stacked against us but even with that reality, there still are phenomenal opportunities. on gold, watch it retrace at least 33% between today and tomorrow, likely over night in the london session. REMEMBER, there are no guarantees so take this post with a grain of salt and just pay close attention to what happens between now and the next NY session.

  25. At 2:30 PM Tuesday is seems to have suggested that it will top out at under 1250. If it goes back and consolidates at 1237 then we have a classic head-and-shoulder top.

    The PPT does not have to control the market, only enough to form the triggers that the market responds to.

    Note that today's Bloomberg article suggesting that $1500 is in the cards also reported that two major players have dumped significant portions of their gold (GLD) holdings in recent days.

  26. Adam,

    From one technical trader to another - I acknowledge your system of triangles and your general approach to the markets.

    However, and I commented on this before, in the volatile gold market, it seems you place your stops very close and get whipsawed out.

    I agree, stops need to be set to protect against losses, but trying to outwit the market for a few dollars gain, doesn't seem to be working.

    Even a 3-4 % stop would have kept you in during the last swings, while still protecting the investment.

    1. Leo,

      Thank you for the suggestion. I have passed it along to Adam.

      Cheers,
      Jeremy

      Jeremy Lutz
      Head of Technical Support
      MarketClub and INO.com

  28. If your trying to make money in gold by the hour, your not that bright. It has outperformed the market almost every year this decade and basically since the gold standard was left at 35 an ounce.

    1. Chris,

      if memory serves me correctly gold hit a high in the early 80' and basically took 20 years before it was able to overcome the high. At the same time other investments outperform gold quite dramatically. I think with all investments there is a season. Right now the season is for gold.

      All the best,
      Adam

  30. Ride the Gold Bull and don't get off! I'm keeping my GLD and I just ordered another tube of Maple Leaves..yeah! I won't sell GLD unless I see a monthly red arrow.

  31. Unlike some web sites, this site doesn't just show the good trades. The bad ones are there to see, too. You have to respect them and give them credit for that.

  32. Adam, I was just kidding, I certainly appreciate the valuable information that you have been providing to your readers. You are a good man!

    Cheers

    1. Bruce,

      If you just look at one signal it looks like that doesn't it. But you cannot look at the market just on one day, you need to look at the bigger picture and what happens over time.

      All the best,
      Adam

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