• "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"

Charts from the Lunatic Fringe.

Rip Van Winkle

Seeker
Seeker
Joined
Mar 31, 2010
Messages
356
Likes
179
Look at that pplt!
 

savvydon

Gold Member
Gold Chaser
Joined
Dec 14, 2010
Messages
2,862
Likes
2,404
Snapback moves like this in the miners always make me nervous. Do you jump in or wait for a pullback?
There's a couple big gaps already. Do we just keep chugging higher, or do they fill?
I am close to redemption on my June calls. On more short term push up and I will cash in and consider myself fortunate. It is really tough to be right AND be right at the right time. On the other hand my Sept calls are looking to be in the driver’s seat. My promise to the great casino gods: give me one more strong day and I promise not to blow it by being a greedy pig.
 

savvydon

Gold Member
Gold Chaser
Joined
Dec 14, 2010
Messages
2,862
Likes
2,404
Helluva short term ride in gold and the miners. We gonna see a little more progress courtesy of a short squeeze?
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
BTW Gold Weekly has broken out, we should see another go @ that 1340/50 area in good time, say by end July. 1312 & 1328 are probably going to be sticky on a weekly basis but we have a shot.

View attachment 132773
1328 was the high and now we pause. The time scale is a lot more compressed than I'd come to expect. You just get used to the slow grind I guess. A few hours room to slide into trend and then we get to see if it is respected. So far this is a classic trend with multiple points defining it (aka >3), albeit in the 30 min chart... once upon a time you used to see these trends play out on the daily... now not so much.

AU-30-20190604-1.png
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
Gold Daily.

IMO this is running too hot which reduces the chances of a $1340 break. Best case is we pause between here and there and digest the move before tackling the 1340 level. Second best we retrace from 1340 and then make a solid break. If not we could spend more time bouncing around down in the 12's. I guess this could be a runaway break but they are not very common so don't count on that. We need to catch our breath IMO!

AU-D-20190604.png
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
FWIW our miners ran up yesterday and so far today they are ---> meh!
 

louky

Silver Member
Silver Miner
Joined
Jun 8, 2014
Messages
7,904
Likes
4,758
Location
Bluegrass
once it's support then risk is reduced and it's tradeable, between the boxes is no man's land (pivot 1305). potential moves are too sharp in no man's land. all about risk. recall how i can hit every target and daily close when it's in the box. predictable.
1269-1278-1287-1296.....1305 easy peasy, between the boxes, not so much
 
Joined
Oct 16, 2010
Messages
184
Likes
94
If gold penetrates 1370, that's a line in the sand and a formidable resistance that stuck me for so long, back to March-April 2014. If that line is breached to the upside, then nothing will stop gold on the way to 2,800???
 

louky

Silver Member
Silver Miner
Joined
Jun 8, 2014
Messages
7,904
Likes
4,758
Location
Bluegrass
Spy below 279, crash potential/ danger zone

Not expecting it, just looks like controlled selling so far, but not interested in buying or trading anything below it
 
Last edited:

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
If gold penetrates 1370, that's a line in the sand and a formidable resistance that stuck me for so long, back to March-April 2014. If that line is breached to the upside, then nothing will stop gold on the way to 2,800???
I've always considered 1430 odd to be the final frontier. A long way up from here.
 

savvydon

Gold Member
Gold Chaser
Joined
Dec 14, 2010
Messages
2,862
Likes
2,404
Gold Daily.

IMO this is running too hot which reduces the chances of a $1340 break. Best case is we pause between here and there and digest the move before tackling the 1340 level. Second best we retrace from 1340 and then make a solid break. If not we could spend more time bouncing around down in the 12's. I guess this could be a runaway break but they are not very common so don't count on that. We need to catch our breath IMO!
While this makes sense to me one contrarian thought is that we have been beaten up so hard for so long that no one expects the 'hot knife thru butter' move back up towards $1350. Come to think of it, I don't really expect it either...:oops:
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
Fleck ---> "It’s Always Dumbest Before the Dawn"

aka expect a Chinese trade deal out of the dum!

That should cool our heels.

However Trump seems to be bashing everyone with tariffs, I hear tell we are under consideration for the treatment.
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
While this makes sense to me one contrarian thought is that we have been beaten up so hard for so long that no one expects the 'hot knife thru butter' move back up towards $1350. Come to think of it, I don't really expect it either...:oops:
Oh, it is always a surprise. I just wait and watch.
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
Hmmmmm, getting to the point where buying needs to appear again. I gotta go out to a lunch do, keep an eye on this sucker will ya?

AU-30-20190604-2.png
 

savvydon

Gold Member
Gold Chaser
Joined
Dec 14, 2010
Messages
2,862
Likes
2,404
Hmmmmm, getting to the point where buying needs to appear again. I gotta go out to a lunch do, keep an eye on this sucker will ya?
Can't stay away. Lots going on. Bond market going wild. Dollar crumping. Gold currently consolidating. GSR nipping at 90.:popcorn:
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
Can't stay away. Lots going on. Bond market going wild. Dollar crumping. Gold currently consolidating. GSR nipping at 90.:popcorn:
MIGHT even get properly exciting.
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
RSI divergence on the 5min but no cavalry yet.
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
Why do wives take FOREVER to get out the door?
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
Now THAT is the trader that led as out into the lunatic fringe.:dog:
I keep him in a box these days and only let him out when he is well behaved and the occasion is fitting. He still has PTSD from GIM 1! :surrender::p :D o_O
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
let us know how the afternoon wraps up over there.
It's a bit soft right now, close to flat for the day. Kinda looks like the locals expect a breather here.
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
Finished essentially flat but slightly green today in the land of Oz.

Gold Hourly... consolidating at the best. Possible correction coming right up.

AU-60-20190604-1.png
 

Strawboss

America...Love it...or GTFO
Gold Chaser
Site Supporter
Joined
Mar 31, 2010
Messages
4,570
Likes
7,591
Location
Metro Detroit area
Finished essentially flat but slightly green today in the land of Oz.

Gold Hourly... consolidating at the best. Possible correction coming right up.

View attachment 132932
Keep an eye on the RSI. In an upmove - the RSI always stays above 40...so as it approaches it - might be a good entry (any timescale - although the shorter the timeframe the sloppier it gets). It works better the higher the timeframe...daily is better than 4 hour, etc...

Inversely - in a downmove - the RSI doesnt rise above 60...

Those are the 2 points I look for regarding entries (whether long or short)...along with other stuff like support/resistance, divergences, etc...