Ha , Justin , so close.  .  Yes the others are making millions.  We shared success stories at a party I threw at my mansion last week.  You didn't get the invite? 

I'm still in for both gold and silver short positions .   I opted for the stop entry version rather than the limit order Justin.  It's not as sophisticated as getting that sweet little tap and reverse entry mind you.  I missed the first part of the red candle for gold.  I got in at $1301.  The silver entry was  better at $15.27 so got the whole red candle.  Have pulled my stop losses down to just past entry for both.

Its really bouncing off support for both gold and silver isn't it? I thought it was going to crack it yesterday but pinged back up once again.  The MacD cross over looks promising in gold. It will be interesting to see how long the third downward bar on the histogram is after the market closes tonight.   

Your summation is going to trump whatever i can offer in my rather rudimentary fashion but I suspect you're on the money. I put into practice my first limit order... exacting precisely what Paul had asked... what i would do on the Wednesday webinar... to which i replied... a limit order at 1310 for gold. So I did just that the next morning and just checking in a moment ago... today's high was 1309.

Far out man...  what did Maxwell Smart say..."missed it by this much"... and missing out on that nice red candle was more cruel:)

Suffice to say... the lower lows and lower highs and a rather flat MACD is giving me confidence that a surprise that favours my recently amended stop limit orders short at 1275 (revised after Paul referenced why 1280 mightn't be as strong an entry point.)

I can't reference any news confirming your suspicions that the big boys are buying up key key short positions... but I wouldn't be surprised either.

I'll try and check in daily from now on keep in touch with you... the other guys must be making millions...I think it was you, me Christine and Nick on the webinar the other night.

Cheers

JP

 On the hourly chart there is a spike down around midnight three nights in a row that are followed by big moves back up again.  On the volume hourly charts it shows spikes in volume particularly the red candles.  The biggest green candles that follow have notably less volume than the red even though price movement is the same or greater. 

On the hourly chart since 30th March, there are lower highs and lower lows for both the MACD histogram and the Momentum indicator.  On the momentum indicator at first glance it looks like there is a higher high earlier today but on closer look you can see the peak of price corresponds with a lower point on the indicator.  There is a continued spike on the indicator as price drops off.  So there is divergence occurring for a few hours .

My interpretation is that some big players are holding up the market by buying up sell orders at key times.  The declining energy of upward movement and increasing energy of lower movements on the chart suggests continued pressure toward declining price. 

Does anyone know why the price might being kept where it is?  Sometimes you see this on the cutoff reporting days of the COT report so that big moves are spread out over two reporting weeks and are not as obvious.  I understand this happens near options expiry dates as well but I don't think that we are in that period.    Any thoughts Justin? 😐 

I had a stop entry short position at $14.94.  It got triggered when the candle came down then kissed it then promptly took off in the opposite direction.  Reminds me of a date I went on once...

I have reset the entry a bit lower at $14.90

I think the USD is going to be the deciding factor.The dollar is at its last bit of resistance before having another go at breaking its top.  If it runs out of puff then gold might bounce off its support again.    Of interest in the CoT report the commercials loaded up on short positions in the previous two weeks.  I don't know yet if they brought them all back again on the smash down last  week.  If they still have a pile of short contracts then it could add more fuel to a price drop should the dollar go up. 

I'm still not clear as to why April is so important for the Basal III thing.    Banks have been able to count their gold as Tier One assets at least for this year.   Why a rush in April? Thanks.