The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at
I am always open to questions, comments, or suggestions on how to improve this blog.

Thursday, January 10, 2013

Gold update

Decent move in Gold futures today.
The daily put in a 3rd push down a few days ago (on a momentum divergence and is trying to regain that trend line:

In the chart below, the daily is on the left, the weekly on the right.
A few things  on the weekly; A momentum divergence, price is still within a down trending channel and has regained the 50% retracement (May lows to Sept. highs).
A play on the weekly momentum divergence would be for the daily 3/10macd fast line to correct into the slow line and then turn green, which it seems about to do.  My biggest concern would be the slow line distance from the zero-line, so we want to see momentum pull that line higher.  If price can get through the overhead weekly channel trend line we may see that momentum carry-through.

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