Author Archives: pmontesdeoca

Trading Talk LIVE with Terry Lynch, CEO Chilean Metals, Inc PREMIERE

 

 

Coronavirus 2020 And Gold

 

 

Summary

The price momentum for gold according to the Variable Changing Price Momentum Indicator is at $1,547 and is bullish.

The weekly VC PMI of $1,574 is bearish.

A close above the $1,574 stop negates this bearishness neutral.

If short, cover your position at $1,550-1,527 and reverse to go long on a close above $1,550, if activated. If long activated, use $1,527 SCO.

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SARS Helped Pump Up the Price of Gold

 

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Gold: Weekly Bullish Sentiment Targets The 1,465-1,450 Area As Major Buying Opportunity For 2019

 

 

Summary

Gold went up today to a high of $1,477.50 and that satisfied the criteria to go short the market according to the VC PMI.

The gold market appears to be entering a bearish trend momentum, activating the targets of $1,463 to $1,454.

Let’s see if we get the target of $1,465 on the short trade from 1,488, with our stop at $1,487.

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Gold: Time To Load Up The Boat Again

 

 

Summary

Because the gold market is trading below $1,467, it activated a bearish trend momentum.

Wait for the market to come down to the Buy 1 or Buy 2 levels of $1,464 or $1,462.

The VC PMI also tells us that if the price closes above $1,468 using the 15-minute bar it negates this bearish momentum.

A second close above $1,468 will activate the levels above; the daily target of $1,478 and the weekly target of $,1477.

I do much more than just articles at Mean Reversion Trading: Members get access to model portfolios, regular updates, a chat room, and more. Get started today »

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EARLY BIRD UPDATE ON TICKER TOCKER EVERY DAY AT 7 AM PST LIVE with Patrick MontesDeOca

 

 

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