Wednesday, April 8, 2015

Gold Signal



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There is still no definitive direction in the short term cycles.  That means we can go either way still.  There is a minor cycle turn we tend to watch on the side but don't report much on it.  There is a turn here on the 8th/9th due.  If the minor cycle turns up here or Thursday,  its next turn date is in line with our GoldTrends short term cycle we watch.  If that is the case, then the odds would favor we move higher.

No matter what -- the bottom line is gold must get above 1229 to favor higher.  My entry today is a position that if we don't turn near here, I will cover the position and remain on the sideline until I see another potential set up.  GOLD MUST RE-ENTER THE UPTREND CHANNEL to enter an uptrend channel for this year.   Otherwise the trend remains down and prices can return right back to the 1172-1182 area and retest last weeks low.  The 1172-1182 area is the 2013 low and 2014 closing price (1183).  If we lose that yearly support and close below 1163 odds favor 1140 or a new yearly low into the next cycle due April 18th (plus or minus 72 hours).  

For that reason, I use a MONEY STOP.  I am not willing to risk a lot on this trade.   Since its not a technical stop, there is a greater risk of being stopped out.  IF the cycle direction was firm that would be different.  So I place a tight stop in both gold and silver.  

Gold Cycles



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GOLD CURRENT TRADE ==================================================
Bought 1 Contract Gold at 1198

Stop loss is 1192

M Samer Al Reifae
Official Representative in Romania at HiWayFX
http://lordoftruth.blogspot.com
samer@hiwayfxglobal.com
+40 734 277 757

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YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS 
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED. 
 Do your own due diligence. 
No one knows tomorrow's price or circumstance. 
 I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader. 
I do not accept responsibility for being incorrect in my speculations on market trend. 
 King Regards