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60 Min chart looks primed - MACD and PAR/SAR just about ready to flip.
Every. Single. Pop. Gets sold off with veracity. Gets so old.
Plundering and pillaging as usual. Metals markets make me want to puke. I didn't sell ... but this is so out of hand at this point.
And the morning slam ensues. Smh
Getting sick of trading this based off of technicals and / or logic. Nothing is logical or makes sense anymore. Ready to try something new. Lol
Moment of truth here shortly IMO. They gonna flush it?
Payoff here is nice when you get the big moves right. But man... TA is getting thrown out the window these days. Tree shaking ... head faking ... then you have two dumb a$$ world leaders wagging their junk at each other to move the markets too.
I'm holding DUST as well ... bleh.
Woah. Futures just took off at reopen again. This is getting good! Let's hope this holds and / or continues to explode overnight.
I think our wedge chose the direction for the big move we have been waiting for...
Check out the chart for AG. Got smoked after earnings I believe. That gap has about a 24% gain built in when the shorts give up the ship.
Think that's pretty telling as to what's happening to GDX and NUGT
GDX at 50 SMA. Love to see a bounce here
If I had a margin account and a huge pile of cash... I would just buy DUST 30 minutes prior to market close every day and sell it at the bell. Probably would make a fortune with that strategy.
The end of the day slam is soooo predictable that it's laughable. Smh
Wouldn't be surprised to see GDX touch 22.74 (close on 06/05 before the big run and true gap fill) and then bounce. 50 MA is around 22.89 and I just don't see it blowing through it like it's not there.
We shall see though.
And he is one of many that don't get caught. The BS action we see daily on the futures market is real:
"Separately, on certain occasions, Liew placed orders and executed trades with the intent of manipulating the market price of gold and silver futures contracts for the purpose of triggering customers’ stop-loss orders. Liew coordinated this trading with another precious metals trader at another large financial institution. The intent of triggering the customer stop-loss orders was to allow the traders to buy precious metals futures contracts at artificially low prices or sell precious metals futures contracts at artificially high prices."
Thx for sharing
Man. Gotta believe that when it is finally allowed to run.... it will run HARD.
Hate the way it inches up with big moves up in gold ... but moves big DOWN when gold inches down. Annoying.
Definitely seems to go down when gold goes down tho. Lol. Agreed. Annoying as hell.
Similar trading day to last Wed. Last week it launched at 2pm EST. Fingers crossed for the same today :)
Dollar down, ES down, gold is up.... and miners are down. SMH
Could just be filling the gap from Friday's open. Let's see ...
Thank you sir ... a $1,300 break (that holds) ... could sure make things interesting in a hurry.
But... That's nearly a 6 year lower-high trendline that would require some serious push ... so I'll remain hopeful but realistic. Lots of money to be made both ways.
Wish I could post a chart here... but pull up the monthly gold chart and check out where we currently sit with regard to the upper trend line that connects the highs. (All the way back to 2011)
It's both an encouraging and ominous chart all at the same time. A breakout would be absolutely insane though ...
Gdx barely moving on this gold move.
Someone accidentally kicked the plug out from the wall on the algo computers ...
Surely shorts weren't caught off guard with the 2pm spike yesterday ... and now they want to cover down there... ?? it's obviously being worked hard to "somewhere"...
Hopefully this craziness will lead to an epic pop and breakout here. Complete chaos
Let's see if that gap up on 05/10 on GDX gets filled. Looks like 21.52 would do the trick.
Just look at the 4 hour chart on ES and $DXY. I think it could get uglier for NUGT... and that gap on GDX 05/10 could come into play.
Not trying to be the boogie man... just being realistic about what NUGT is up against at the moment.
I see ES and DXY looking to move up... and I also see that big gap up on GDX from 05/10. Those gaps certainly seem to almost always fill on GDX.
We shall see
Dollar looks to be reacting positively to President Big Boy Pants' weekend trip.
But look at the daily candle on the gold chart ....
The nightly news has been pretty good for gold lately. Let's see if anything new drops this evening. :)
GDX really lagging gold on this breakout... where it had been leading in the last few days. Hmmm
Dollar down big and gold down big. Lol. What a f'ing racket. 2017 has been impossible. So many shenanigans outside of market hours.
$DXY (US dollar index on TDA) just opened 1% down. Could be the start of a nice week here.
Let's see if they pound it at 9:30 like they have the last 2 days.
This is gonna be a candle of all candles on the daily. Yowzers
Things change quickly overnight. ;)
Head and shoulders on the 1 min Dollar chart. Could take a dive here and push us up.
I'm seeing 50 SMA at 23.38 for GDX as being next level of real resistance.
Support in this area (GDX) goes back to January and also in Oct of last year. Gonna take a big slam to break through this area IMO. 50 and 100 SMA's are right here too.