Whats your strategy for paladium Alan?
Hi Nathan. Palladium is not yet HP and has not broken the rising support, so I'm waiting to see what happens.
I went short on the 13th and got stopped out last night.
I was watching the market last night after the webinar and saw the turn in G&S so quickly exited positions.
Keep an eye on the USD and if it falls through the 95 level... it'll give G a momentum lift.
I agree with Alan on Palladium... Copper is not offering anything at the moment but I'll do an update on Sunday.
Our "unmentionable" is doing quite well...
And Platinum is on a roll
I was stopped out on silver, losing my recent profit on gold!
I'm yet to discover why the quick reversal happened in G&S
What makes it different from just a temporary pull back? If our stop losses are at the previous high we should still be in under HP methods, is that right? However, those support levels do seem very strong!
Yeah Nathan, I know that palladium feeeeeeeling...I got a bit too enthusiastic with platinum a month ago and was stung. Ouch!
Interesting article on Australia's missing gold... https://www.silverdoctors.com/gold/gold-news/major-setback-reserve-bank-of-australia-says-shut-up-about-gold-and-go-away/
Look at the MACD Z and the S Stochastic for gold... what do you see?
Nathan... the challenge with the copper chart at the moment is that while its forming higher lows... it is not forming higher highs.
Instead, they're lower highs.
This gives you a perfect wedge pattern that, if it follows the "rule book" for wedge breakouts, will look towards breaking from this pattern around the 75% mark.
They suggest the tide may be turning to long
Thank you for the copper analysis Paul.
I went to bed $500 in the green and woke up $500 in the red! So now have exited my G and S short positions. I did see the bounce but was biased towards short, called it a retracement and got stung for it. A good lesson on psychology. What does that voice on my computer say every Wednesday ? Trade what you see not what you think or something like that...
Interesting article! Well at least RBNZ doesn't have to worry about its gold - it sold it all, probably because paper is sooo much more valuable.
Yep it's been interesting alright Nathan. I was watching G & S having trouble penetrating support so I took profit on G a couple of days ago and dragged my stop loss down for S last night. Also I had only taken out small contracts, with further SE short orders below support. Although they were HP shorts, I was thinking about barriers to entry as per the checklist (i.e. support and trend in volume) and wasn't fully committing yet. Tricky times!
