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  • #341
  • Oct 17, 2019 8:55am Oct 17, 2019 8:55am
Quoting detector
{quote} Closed out positions, Dow approching and looking to break the res line
If it breaks through, 27400 short term target possibly, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #342
  • Oct 17, 2019 11:02am Oct 17, 2019 11:02am
Quoting detector
At a crossroads with gold, hasn't crossed resistance but challenging while its at this level, any input, D
Gold now over the res line, I closed previous bar, but it made, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #343
  • Oct 17, 2019 1:15pm Oct 17, 2019 1:15pm
opened short Dow 27016, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #344
  • Oct 17, 2019 1:19pm Oct 17, 2019 1:19pm
Quoting detector
opened short Dow 27016, D
Looking to go through 26980 to follow down, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #345
  • Oct 17, 2019 1:32pm Oct 17, 2019 1:32pm
Quoting detector
{quote} Looking to go through 26980 to follow down, D
27045, will void the short if it passes and looking for a long, 4hr is down so not taking the buys, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #346
  • Oct 17, 2019 1:43pm Oct 17, 2019 1:43pm
Quoting detector
{quote} 27045, will void the short if it passes and looking for a long, 4hr is down so not taking the buys, D
short still open, void never happen
EDIT
should have made void level 27050, being a little tight , D
I don't need to be good at the game, only good enough to beat my opponent,
  • #347
  • Oct 17, 2019 1:49pm Oct 17, 2019 1:49pm
Quoting detector
{quote} short still open, void never happen EDIT should have made void level 27050, being a little tight , D
Closed now, looking for a higher entry, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #348
  • Oct 17, 2019 1:52pm Oct 17, 2019 1:52pm
Quoting detector
{quote} Closed now, looking for a higher entry, D
27062 short open, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #349
  • Oct 17, 2019 1:56pm Oct 17, 2019 1:56pm
Quoting detector
{quote} 27062 short open, D
Good luck D. Turkey cease fire and GM labor agreement look positive to me.
  • #350
  • Oct 17, 2019 2:00pm Oct 17, 2019 2:00pm
Quoting deuce
{quote} Good luck D. Turkey cease fire and GM labor agreement look positive to me.
Nice one D, thanks for the heads up,
I don't need to be good at the game, only good enough to beat my opponent,
  • #351
  • Oct 17, 2019 2:02pm Oct 17, 2019 2:02pm
PRECIOUS METALS FAILING TO CONVINCE, RESISTED BY THEIR THE 21-DMAS
17 October 2019, 21:53

 

  1. Precious metals have been less volatile in recent sessions.
  2. Brexit and weakness in the U.S. economy had been providing support for the haven metals.

Precious metals have been somewhat less volatile in recent sessions and today, Thursday, the price of Gold has ranged between $1483.53 and $1497.45, up by 0.24% on the session. Meanwhile, the price of spot Silver, was firmer on a percentage basis, travelling from a low of $17.31 to a high of $17.64.
The Brexit developments have been dominating the financial and commodities market's space and while a deal between the European Union and UK was passed by the 27 EU members, markets are now bracing to see if a vote in the British parliament will seal the deal or, alternatively, see the deal blocked and sending PM Johnson back to the drawing board.
US data
Also, further signs of a weakness in the U.S. economy had been providing support for the haven metals. Subsequently, Gold for December delivery on Comex added $4.30, or 0.3%, to settle at $1,498.30 an ounce. December Silver, meanwhile, put on 18.5 cents, or 1.1%, at $17.612 an ounce, following a 0.3% gain on Wednesday.
The Philadelphia Fed showed that a gauge of business activity dropped to 5.6 in October from 12 in September. Industrial production from the Federal Reserve also dropped and by 0.4% in September, which was the largest drop since April.
Gold levels:
The price 21 and 50-day moving averages are priving to be a tough spot of resistance for the yellow metal. Repeated failures here open up risk tot he downside again where the bears will seek out a 50% mean reversion of the late June swing lows to recent highs around 1460/70. On the upside, bulls will look for a close back above the psychological 1500 level ahead of the 1520 area and the1535 resistance target.
Silver levels:
Technically, Silver has been unable to break above the 21-day moving average which opens the case for a re-run to the downside whereby the trend-line support will remain a focal point. A break there will bring back prospects of a run back to a 61.8% Fibonacci level down at 16.10, guarding the 200-day moving average which is resting in the 15.99s.

persistence and determination alone are omnipotent
  • #352
  • Oct 17, 2019 2:10pm Oct 17, 2019 2:10pm
Quoting Ll1979
PRECIOUS METALS FAILING TO CONVINCE, RESISTED BY THEIR THE 21-DMAS 17 October 2019, 21:53 Precious metals have been less volatile in recent sessions. Brexit and weakness in the U.S. economy had been providing support for the haven metals. Precious metals have been somewhat less volatile in recent sessions and today, Thursday, the price of Gold has ranged between $1483.53 and $1497.45, up by 0.24% on the session. Meanwhile, the price of spot Silver, was firmer on a percentage basis, travelling from a low of $17.31 to a high of $17.64. The Brexit...
Li, Great post, gold on 4hr rejection has just had its head above the rising res (which is looking) line if it dips it tiesD
I don't need to be good at the game, only good enough to beat my opponent,
  • #353
  • Oct 17, 2019 2:15pm Oct 17, 2019 2:15pm
Indicators not sanctioning a rise from here, will see, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #354
  • Oct 17, 2019 2:17pm Oct 17, 2019 2:17pm
Quoting detector
Indicators not sanctioning a rise from here, will see, D
27050 and below could make the fall, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #355
  • Oct 17, 2019 2:25pm Oct 17, 2019 2:25pm
Quoting detector
{quote} 27050 and below could make the fall, D
last chase up then down?
I don't need to be good at the game, only good enough to beat my opponent,
  • #356
  • Oct 17, 2019 4:08pm Oct 17, 2019 4:08pm
Dow short still open, looking to the downside, the price has been in a closing wedge formation, now at the top on the daily, unless it breaks out the next level is 26000 or just above if it stays in tune, the breakup could be 27900 or breakdown 25000, but for now the chart tells me down, good trading all, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #357
  • Oct 17, 2019 5:05pm Oct 17, 2019 5:05pm
Gone from one extreme to another but opportunities arose, GBP/JPY short, after having a chat on the WTI thread, the GU looks like it could be setting up to fall again, will keep a close eye for a turn though, good chess all, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #358
  • Oct 17, 2019 5:09pm Oct 17, 2019 5:09pm
Quoting detector
Dow short still open, looking to the downside, the price has been in a closing wedge formation, now at the top on the daily, unless it breaks out the next level is 26000 or just above if it stays in tune, the breakup could be 27900 or breakdown 25000, but for now the chart tells me down, good trading all, D
Equities sure seem to be getting comfortable in this narrow range. Maybe the PMI number next Thursday will be able nudge them out of this area.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #359
  • Oct 17, 2019 5:19pm Oct 17, 2019 5:19pm
Quoting Ef5
{quote} Equities sure seem to be getting comfortable in this narrow range. Maybe the PMI number next Thursday will be able nudge them out of this area.
EF, will need some pretty good strong news to hit my breakup target, it's struggling to hold this position, Chinusa deal may not be enough, rate cuts together may just do it but this cannot go on for ever, how can an index have such a stellar rise and pundits talk about recession, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #360
  • Oct 17, 2019 5:24pm Oct 17, 2019 5:24pm
Quoting detector
{quote} Li, Great post, gold on 4hr rejection has just had its head above the rising res (which is looking) line if it dips it tiesD
Li, checked the hourly chart, that maybe all about to change, looking for a rise if the chart has any truth, suppose we'll see,keeping to the shorter frames, gives a better chance of the early price move, D
I don't need to be good at the game, only good enough to beat my opponent,
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