My system points to 1389/91 as first resistance, then 1420/23 then 1450. The rumour is that central banks are creeping into the market as buyers.

All Majors and Gold

Please remember there is always trading opportunities every day. There are plenty profits to be had in every market, every day.

All Majors and Gold

What an amazing bear run! tp @ 1405. I think the bears' claws might hold back for a bit now, possibly until 1463/83 - but that's just a reasonable guess.

All Majors and Gold

My algorithm churned out 1476.05. Not sure if we will see that today.

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I believe I believe I really do believe

All Majors and Gold

beautiful, straight through support! Come on 1400 (maybe not today, but who knows)

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Hmm...I don't like the look of this pattern...from here I can see a possible near term upside target of 1552/8 - but I can't see this happening with current bearish sentiment. The other pattern forming is an almighty surge to the downside from ...

All Majors and Gold

After further calculations - the exact near term downside target I have is 1519.43.

All Majors and Gold

Balance is good as you highlight, so if I was to give a contrarian viewpoint to my bearish stance, it would be that from here (c.1545) there is a chance of a rally to the 1569 area short term, as a calculated estimation. I guess we'll have to see ...

All Majors and Gold

Yes, if we do hit 1523/24/25, I will be looking for a bounce back up to the 1539/55 area short term. After that, I can see 1511/12, if that breaks my calculations indicate a drop to 1477 and possibly 1406. We'll see.

All Majors and Gold

I can also see interim support @1539, but Gold has the potential to smash straight down through to 1523/24 in the current conditions. Currently short - this could be the run to 1400's that so many have talked about.

All Majors and Gold

I'm going home, I've got some pips to show for this week's early starts and hard work. Have a good weekend all. Hope you all trade well going forward.

All Majors and Gold

On the separate issue of following my trades. Why would you do that? You should have your own analysis and your own trade setups. If you followed anyone's trades without questioning or understanding then that is just plain folly. So, yeah of course ...

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That's rather presumptuous. I think I have presented my case enough and my comments have ample support. Since one of Gnomoneey's thread rules is no arguing. I am declining to comment further on this issue. You have the OBV volume link - use it.

All Majors and Gold

Here's the volume break - plain and clear. We're using different volume indicators for a start and in a different way. Further info: http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:on_balance_volume That is all I have to ...

All Majors and Gold

That is just crazy. Also regarding the banks, there are many opinions which say the European banks are actually insolvent under the hood. I think it could all come tumbling down soon.

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Look at the 15min chart, 10/10:15/10:30am GMT candles, then look at the equivalent OBV volume, it starts it's upward descent from there, this miniature up tick in volume is the start of the bulls gathering to create their spike, hence the concern at ...

All Majors and Gold

Lets bullet point it: 1. Concern for volume lower down: Increase in volume for me depicts a build up of bullish behaviour. Since I am more bearish on Gold and I am looking to go short, so any volume spikes and hence higher prices are a concern for ...

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Yes, I traded the top of the spike at what I calculated resistance to be at, because I have a bearish view on Gold, the higher up my short is the better. For the short @1570 - after topping at 1573.88 - the price action dropped soon afterwards. The ...

All Majors and Gold

1580.57 is another target the bulls might set their sights on. The current pattern forming is looking slightly more bullish with a burst to the upside. We'll see how it plays out.

All Majors and Gold