The way gold has been trading lately, in a regular zigzag pattern, a swing trader could make good money using only two indicators as his buy/sell signals, the RSI and CCI.
In a nutshell, when the RSI (Relative Strength Index) hits 30 you buy, and 70 you sell. The CCI (Commodity Channel Index) could be used to supplement the buy and sell signals since it tends to reverse in direction a few days prior to the RSI signal. The CCI generally will swing in a range from plus 100 to minus 100, and when it peaks above 100 you wait a couple days for it to start turning back down, and at that point the RSI (which lags the CCI a little) should be about to turn down also (as will the GLD gold ETF).
This strategy has worked great over the last 4 months as gold rises toward 1300 and then gets smacked back down to 1200. These RSI/CCI signals won't always work however (Nov/Dec 2016) since you can get false signals if the up or down move is sustained. But man, a trader would have cleaned up trading the GLD since March using just these two basic signals..
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