Gold backtesting....

Gold

Expect a backtest to the main line... just wondering if we get the right shoulder for an inverse move higher?

Gold

Wash

Time to take this small short out... there were some trades in and around this position but for now this is ok.

Starting a small short

1246

1236

Taking out my 1159 long here - 1236

+ 77 points

Euro

Seems to be some support in here...

1155

adding to 50% of max size here.

There's a chance we see 1145. I will go long there... but I will dance close to the door at that point.

Out 1258

Out 1258 (25%) +98 Points

and starting a small long 1162 (25 percent).

USD

Nov. 23

Taking 25% off here - 1168

+88 points

Nov. 21 update

Taking some gold off here at 1693 + 94 points.

Taking half ES off here 1186 + 70 points.

Adding

1256 short

Easing up...

Taking the ES March long off here

+20 points

Update

Covering half December ES (1223) +32 on 25% and going slightly long March ES...

Gold holding (wide stops) - half position.

USD H&S complete

AAPL

I see two island reversals.

Short GC

1787 for a trade.

(Half the usual size).

Short ES - 1250's

Head and Shoulders with the 1258 area being very resistive...
and a failed megaphone?



*edit* Taking some 37's off + 15

USD

H&S?

ready to launch ?

adding 1183

probably the last add in here....

*edit* looks like 1185 broke so we got stopped here.

So, in summary - 90 points on 40% of size and 20 points on a full position.

Adding some more in here....

1172.

Probably don't want to see a close above 1185.... Average price is now around 1200 with 90 points locked in.

Back in...

1162

Covering 40% 1137

So far so good + 90 points !

short 1226

The Plot Thickens...

Yes, it's been a while. Going to try and post more as we head into muddy waters of the fall trading period.

long 1311.75

slw

slw pwt

1357

Out here +24

DJ J Me

Long 1333

Long a little DX < 73 as well.

ES

Pullback

The "pullback" everyone was waiting for was relatively quick, which means trend continuation is probable. We also formed an inverse H&S on the retracement with ~1280 as the neckline. We'll see what happens with this trendline. We either continue to grind higher or we come off in large batches...

Double Top in Gold?

Converging trendlines and a retracement in the ES - too obvious? - Covering 1275 and shorting 1315 - +40. *edit* 10 points in I took 30% off... Stopped for the rest at evens plus a tick.

The more I look at his gold chart, the more it's telling me top. I see a double top with each separate top consisting of a head and shoulder's pattern... The question remains - is all current information priced in... or, is the central bank shopping spree over? Gold needs to hold the green line around 1405 and close above 1430 or it could signify a trend change. Closing below 1365 would be a game changer.

Gold and the Market

A couple of good rollover shorts - see charts below...

Now though - looks like Gold is going higher... the pullback was to a bullish spot as I mentioned in the prior post.

The ES could pullback to the 1257 area and form an inverse H&S. I would be surprised if we went below 1260 ... with the USD losing support and the bonds continuing on their trend along with oil and silver, the market looks to go higher.

Long in here -1275 - with a parital stop at 6 points... will trail up the rest.

Gold's run

On an intermediate term basis, I would say any retracement would yield the following sentiment:

1380 - bullish

1370 - neutral

1360 - bearish

ES breakdown...

or more of the same?