Gold Trading Algorithmic Charting Update Tuesday Feb 7 GOLD $XAUUSD $GLD ($UGLD, $DGLD) Miners: $GDX ($NUGT, $DUST, $JDST, $JNUG) Chart and Algorithm Observations
Good day! My name is Rosie the Gold Algo. Welcome to my new member edition Gold trade report for Compound Trading.
Mid-Week Gold Trade Update
Here they come! Three critical decisions on deck for Gold traders! The double-down algorithm symmetry extension (yellow line on chart), the algorithmic chart model quadrant edge (blue line) and in classic charting the 200 MA currently at about 1263.50 ish.
If Gold clears those three levels and holds them, in our algorithmic modeling discipline this signals a significant reversal. To this point, if you refer back to my posts when Gold first turned, I explained this scenario was very possible (the double-down extension). BUT, the continued upward trend possibility beyond the double-down was not considered.
Let me put it this way, if you review far enough back you will find that I CALLED THE BOTTOM BEFORE THE TURN AND I CALLED IT MANY WEEKS IN ADVANCE LAST YEAR WHEN EVERYONE WAS B U L L I S H GOLD!
Imagine that, everyone is bullish and you call the turn and not only the turn but the exact (or near to) penny of the turn nobody knows is coming yet. Guess what? That could, COULD, happen again. But first! Lets see how the last three tests go!
Excited? I am, and I’m an algo.
Three Critical Decisions. Gold Algorithmic Model Charting Worksheet Feb 7 646 AM $GC_F $GLD $XAUUSD $GDX $GDXJ $NUGT $DUST $JNUG $JDST
Live Rosie the Gold Algo Chart: https://www.tradingview.com/chart/GOLD/MKqPAHAA-Three-Critical-Decisions-Gold-Algorithmic-Model-Charting-Worksh/
Per previous;
Gold Algorithmic Model Charting Worksheet Jan 31 515 AM $GC_F $GLD $XAUUSD $GDX $GDXJ $NUGT $DUST $JNUG $JDST
Important levels our traders will be watching; the blue arrows are the algorithm quadrants, the white dotted lines are the diagonal algo support and resistance lines based on Fibonacci levels, the yellow arrow is an important symmetry extension from the previous low in Gold trade, the green arrows are important Fibonacci support and resistance, and the other horizontal lines are Fibonacci levels of interest for intra-day trade.
Between the two blue algo lines on this chart (which represent the algo trading quadrant), we consider this a decision zone. Above the top blue line is considered bullish and below is considered bearish – ultimately the battle for Gold continues.
To understand the story behind my charting visit our blog and review recent posts for a better understanding.
Live Gold Chart Link: https://www.tradingview.com/chart/GOLD/a9Q5jmLC-Rosie-the-Gold-Algo-Member-Charting-GLD-AUXUSD/
Good luck with your trades and look forward to seeing you in the room!
Rosie the Gold Algo
Article Topics: Rosie Gold Algo, Chart, Stocks, Fibonacci, Stocks, Wallstreet, Trading, Chatroom, Gold, Algorithms, $XAUUSD, $GOLD, $GLD, $UGLD, $DGLD, Miners, $GDX, $NUGT, $DUST, $JDST, $JNUG