Charts are self explanatory.
Showing posts with label gold. Show all posts
Showing posts with label gold. Show all posts
Thursday, December 15, 2011
Gold Longer Term View
One of our readers, Jigs, sent me these charts on Gold which he tracks closely.
Charts are self explanatory.
Charts are self explanatory.
Thursday, August 25, 2011
OrderFlow Gold
In one of my previous posts mentioned here, I had made a point that Gold was a parabola and parabolas do not last.
The reasons may have been different, but it was obvious that a big break would come which would send retailers scurrying.
Gold has sold off 2000 points in the last session and a half.
Fortunately for us, our OrderFlow caught the entire move, right near the top.
There was another big one in the other metal- Silver. This one has fetched about 4000 points so far.
I have mentioned several times, that the system of following the buying and selling of the market, is the best indicator of future prices.
The charts above testify.
The reasons may have been different, but it was obvious that a big break would come which would send retailers scurrying.
Gold has sold off 2000 points in the last session and a half.
Fortunately for us, our OrderFlow caught the entire move, right near the top.
There was another big one in the other metal- Silver. This one has fetched about 4000 points so far.
I have mentioned several times, that the system of following the buying and selling of the market, is the best indicator of future prices.
The charts above testify.
Wednesday, August 10, 2011
Runaway Gold
First the OrderFlow charts of Silver, which is the newest addition to our MCX trading room.
We had a sell signal yesterday, which returned 2200 points !
Now for some longer term references.
In one of my earlier posts, exactly a month back, I had posted a chart with Gold then around 1520 and projected new highs for the year.You can find that chart here
At that point , I had projected 1800 as a target for longs.Well we have reached 1782 on the COMEX and even I am surprised as the fact that we are there in one month!
But what is more surprising is the way in which retail traders are jumping on the gold bandwagon, ready to take a ride to their "city of dreams". Newspapers , TV channels( not of the business kind) and gossip magazines seem to be discussing this newest investment find.
I'm scared for the small trader who is jumping aboard now, egged on by investment banks and brokerages who are promising more ahead. It's a different matter that none of these people talked the high numbers when Gold was actually bottoming.
Let me take you to another chart in the commodity space
Most Silver investors would remember the big move of silver which doubled in price in 3 months. Quite a few of them are still waiting to exit out of their losses now.
What happened with Silver earlier will repeat now in Gold.
Folks, parabolic moves never last. Markets do not remain stretched.That Silver Order Flow chart posted above is a great indicator to the divergence at play in Gold- Silver today.
I told my trading room earlier, that I want to have none of the next 50-100- even 150 point rise from here, because the fall will be very painful. There are plenty more other swing opportunities in the market to look at !
We had a sell signal yesterday, which returned 2200 points !
Now for some longer term references.
In one of my earlier posts, exactly a month back, I had posted a chart with Gold then around 1520 and projected new highs for the year.You can find that chart here
At that point , I had projected 1800 as a target for longs.Well we have reached 1782 on the COMEX and even I am surprised as the fact that we are there in one month!
But what is more surprising is the way in which retail traders are jumping on the gold bandwagon, ready to take a ride to their "city of dreams". Newspapers , TV channels( not of the business kind) and gossip magazines seem to be discussing this newest investment find.
I'm scared for the small trader who is jumping aboard now, egged on by investment banks and brokerages who are promising more ahead. It's a different matter that none of these people talked the high numbers when Gold was actually bottoming.
Let me take you to another chart in the commodity space
Most Silver investors would remember the big move of silver which doubled in price in 3 months. Quite a few of them are still waiting to exit out of their losses now.
What happened with Silver earlier will repeat now in Gold.
Folks, parabolic moves never last. Markets do not remain stretched.That Silver Order Flow chart posted above is a great indicator to the divergence at play in Gold- Silver today.
I told my trading room earlier, that I want to have none of the next 50-100- even 150 point rise from here, because the fall will be very painful. There are plenty more other swing opportunities in the market to look at !
Monday, August 1, 2011
MCX on OrderFlow
We have started projecting Orderflow charts for Copper and Gold from our trading room.
These charts will be displayed along with the Nifty and the BankNifty futures in NSE regular hours. However when NSE closes at 3.30 pm, these charts will be streamed live uninhibited right upto 11.30 pm when MCX closes.We plan to add crude Oil and Silver Mini orderFlow charts during the course of this week.
Here is the signal generated today :
Copper :
We got a great sell signal in copper at 438 which at the time of this post has gained over 4 points.The sell signal is still on and copper can go lower.
1 point equals 1000 bucks and the SPAN is less than the requirement of an NSE future.
Gold :
Gold Sold off in the morning and OrderFlow was quick to latch onto the sell signal.
At the time of this post, it's shooting higher on track for the 80 % rule, so popular amongst us profilers. The Buy signal has appeared right at the time to go for the 80% rule to VAH.
Yes Market Profile works everywhere, and aren't we glad we have a trading system which works in all markets !
These charts will be displayed along with the Nifty and the BankNifty futures in NSE regular hours. However when NSE closes at 3.30 pm, these charts will be streamed live uninhibited right upto 11.30 pm when MCX closes.We plan to add crude Oil and Silver Mini orderFlow charts during the course of this week.
Here is the signal generated today :
Copper :
We got a great sell signal in copper at 438 which at the time of this post has gained over 4 points.The sell signal is still on and copper can go lower.
1 point equals 1000 bucks and the SPAN is less than the requirement of an NSE future.
Gold :
Gold Sold off in the morning and OrderFlow was quick to latch onto the sell signal.
At the time of this post, it's shooting higher on track for the 80 % rule, so popular amongst us profilers. The Buy signal has appeared right at the time to go for the 80% rule to VAH.
Yes Market Profile works everywhere, and aren't we glad we have a trading system which works in all markets !
Friday, July 22, 2011
Gold OrderFlow
Here is an updated profile chart to the one which was posted yesterday
The market has remained sideways and 22800 and 23175 continue to be short term reference points.
A strong bull market consolidates rather than corrects after a big run up. We may be witnessing that consolidation now. I still maintain that 30 % upside I spoke about earlier this month, 10 of which have already been done!
OrderFlow :
The market has remained sideways and 22800 and 23175 continue to be short term reference points.
A strong bull market consolidates rather than corrects after a big run up. We may be witnessing that consolidation now. I still maintain that 30 % upside I spoke about earlier this month, 10 of which have already been done!
OrderFlow :
Thursday, July 21, 2011
Gold Intra
Here is a profile chart showing Gold traded on the MCX at current price at 4.30 IST.
Back on July 9th, I had spoken about multi month lows being put in Gold and a profile chart which projected moves to new highs for the year ( already done)
The intra chart posted above projects strength now above 23170 which should easily put 23220 within reach immediately.
Over the weekend I'll put up a bigger intermediate term chart, which clearly shows that this is the biggest bull market across popular instruments traded currently
Back on July 9th, I had spoken about multi month lows being put in Gold and a profile chart which projected moves to new highs for the year ( already done)
The intra chart posted above projects strength now above 23170 which should easily put 23220 within reach immediately.
Over the weekend I'll put up a bigger intermediate term chart, which clearly shows that this is the biggest bull market across popular instruments traded currently
Saturday, July 9, 2011
Stocks, Dollar and Gold.
Stocks :
Those who have been following our daily market posts before the market open, would have noticed the emphasis on the 4 day balanced profile we were talking all through last week. Since this is a weekly update, it gives a chance to project a slightly longer term picture than the intra day analysis we do everyday.
Have a look :
The profile on the left is a composite profile which is in a shape of a bell kept sideways. This always denotes a market in balance and ready for a move out. Such moves generally happen or start from the point of control (POC) of the balanced profile, something we saw early on Thursday morning.We did see a sell off from the open on Friday and a failure to hold the 5702 level marked as support in our friday's post, brought the market down a further 40 points.
But overall we are seeing value developed higher , which is a sign that the sell off on Friday was profit booking in the region of the 200 SMA, something logical and to be expected from traders who had brought near the lows 2 weeks earlier.
On Tuesday, earnings season gets underway and the market can quietly consolidate between 5673-5705 ahead of it on Monday.However any weakness, can also mean a trip through the balance area and can show 5607 below 5640 easily. Another level of support is near the 5550. Resistances for up-moves during the week will be at 5764/77 and then 5834.All the above are future levels for July.
Dollar :
The jobs report is the US brought some volatility to that market this week. We have noted the report to produce monthly highs/ lows in the index periodically.
Most of you may be aware that I felt back in May that the dollar had put in an important swing term low.With so much news filtering around QE2/ US economy etc, there is a big chance that should we break and stay below that 74.8 level marked as value area low on the chart, we should make new lows for the year.
Gold :
I'm purposely putting these last 2 charts up, as during this month Vtrender will be consciously analysing the commodity markets through Market profile.
Yes, we will have daily updates on Gold, Silver, Copper and Crude.
For the moment, Gold seems to have just confirmed a multi-month bottom last week and a further rise from here would bring in new highs for the year.
Watch this space for a daily commentary on commodities, starting this month.
Have a good weekend!
Those who have been following our daily market posts before the market open, would have noticed the emphasis on the 4 day balanced profile we were talking all through last week. Since this is a weekly update, it gives a chance to project a slightly longer term picture than the intra day analysis we do everyday.
Have a look :
The profile on the left is a composite profile which is in a shape of a bell kept sideways. This always denotes a market in balance and ready for a move out. Such moves generally happen or start from the point of control (POC) of the balanced profile, something we saw early on Thursday morning.We did see a sell off from the open on Friday and a failure to hold the 5702 level marked as support in our friday's post, brought the market down a further 40 points.
But overall we are seeing value developed higher , which is a sign that the sell off on Friday was profit booking in the region of the 200 SMA, something logical and to be expected from traders who had brought near the lows 2 weeks earlier.
On Tuesday, earnings season gets underway and the market can quietly consolidate between 5673-5705 ahead of it on Monday.However any weakness, can also mean a trip through the balance area and can show 5607 below 5640 easily. Another level of support is near the 5550. Resistances for up-moves during the week will be at 5764/77 and then 5834.All the above are future levels for July.
Dollar :
The jobs report is the US brought some volatility to that market this week. We have noted the report to produce monthly highs/ lows in the index periodically.
Most of you may be aware that I felt back in May that the dollar had put in an important swing term low.With so much news filtering around QE2/ US economy etc, there is a big chance that should we break and stay below that 74.8 level marked as value area low on the chart, we should make new lows for the year.
Gold :
I'm purposely putting these last 2 charts up, as during this month Vtrender will be consciously analysing the commodity markets through Market profile.
Yes, we will have daily updates on Gold, Silver, Copper and Crude.
For the moment, Gold seems to have just confirmed a multi-month bottom last week and a further rise from here would bring in new highs for the year.
Watch this space for a daily commentary on commodities, starting this month.
Have a good weekend!
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