I was in a bit earlier than the HP timing... based on my bracketing strategy around support resistance...
But yes agree with your strategy... and levels
I'm into Silver earlier based on the same reasons for Gold
Awesome. I'm similar just a bit lower. My orders haven't been filled yet. About 1275 for gold and 14.98 for silver. May the GaS lords look upon us favourably this evening....
In trying to counter my initial bias that the short is still on.... the Bollinger Bands have started to widen... giving scope that the price and gold could potentially still go south as of today 8-3-19....
Yes I agree. There is not much in the indicators that says long. The SMA's are pointing up but thats to be expected. Of interest if you draw a fibonacci from the low of 12 Dec 2017 up to its high at 25 Jan 2019 the current price action is resting right on the 61.8 retracement line. Do you know much about Elliot wave theory? I do not. One long possibility might be price bouncing off that retracement line? (Pure unfounded speculation here)
If you checkout the screenshot I posted in the gold breakout thread you'll see the pitchfork I drew back in Jan. Price is now at the bottom of that pitchfork and looks to be reversing again. If it holds it will be a pretty strong support line and possible long entry.
Gold & Silver SPIKE On Report Only 20,000 Jobs Were Created In February – Trump Says “Things are looking good!”
G'day
Here's a repeat of three things that can thwart HP movements. All have happened in the last three months and all can eat you alive!
(1) High total scores, but with inadequate MACD momentum, highlighting the importance of having all 4 essential predictors fulfilled. It is generally not sufficient to enter on a high score alone and expect a big HP move.
(2) All 4 essentials may be fulfilled, but total score is not high enough. These generally relate to sudden, brief surges or spikes in price.
(3) HP signals generated close to blocking support/resistance lines can result in short-lived moves or even counter-moves.
For further information, see the video of my talk at the retreat.
Cheers
Alan
