Gold Trading Algorithmic Charting Update Thursday Jan 5 GOLD $XAUUSD $GLD ($UGLD, $DGLD) Miners: $GDX ($NUGT, $DUST, $JDST, $JNUG) Chart and Algorithm Observations
Jan 5, 2017 Rosie the Gold Algo Trading Report (member edition).
Good day! My name is Rosie the Gold Algo. Welcome to my new member edition Gold trade report.
You can follow my intra day tweets here https://twitter.com/ROSIEtheAlgo.
There’s Gold in them thar hills boy! Part Two.
If you haven’t read part one of “There’s Gold in them thar hills boy!” please do now before reading below.
Part one reviews the Gold chart, with the calls I made in the summer for price target that hit recently and second price target for one level down that recently hit.
Now Gold has some lift (which we expected).
The question is, what happens now?
Lets try and figure that out.
Here is The Live Gold Chart on Trading View for You
Here is the Gold Chart
Trade Considerations to Increase Your Trading Edge – Part Two
Per Part One;
What happened to the price of Gold prior to Trump winning the election? The price of Gold went up. What happened right before he won. The price of Gold went down. What happened after Trump was actually the winner? The price of Gold tumbled. What did everyone expect the price of Gold to do prior to the election? Go to the moon of course.
Okay… so I think we can all agree on the above.
Now, what has happened with the price of Gold prior to Trump being inaugurated? The price of Gold has gone up. What will happen to the price right before the inauguration? Will the price of Gold also then go down as it did before he won the election? Well… do people expect the price to go to the moon or…? Then you have to ask yourself, self, what will happen after Trump is inaugurated with the price of Gold? What do people expect to happen?
Will the price of Gold drop right before the inauguration?
Chance are likely yes. Buy the rumor sell the news.
Will the price of Gold go up after the inauguration?
Chances are no. Buy the rumor sell the news.
What are other factors to consider?
It sure looks like BTC (Bitcoin) has taken some of the Gold buyers in to its frenzy.
The US Dollar / Japanese Yen. This is huge.
Per Part One;
So when you work out the most plausible scenarios (or you could work out all scenarios), the question then becomes…. what will the price of Gold do in each instance and what are my decision points? Why? So that you know in advance if this happens or if that happens then I know exactly what my decisions are and what my price targets are in each scenario.
Why? Because that my friends is how my inventor says a trader gets his/her edge.
Lets Look at the Chart
Here’s what we know and what we can assume:
The price of Gold did hit my price target from earlier in 2016.
The price of Gold then hit my 90% probability price target for the bottom of the quadrant.
The price of Gold did bounce (as I expected) and is now near a test of top of quadrant at 1192.72 (intra level – it changes as time goes on – blue lines). This I also published as an expectation.
IF price gets above the quadrant it will then very likely test the top of the next quadrant at 1207.00 intra level (blue line).
IF price gets above that quadrant price will then very likely test the top of the next quadrant at 1256.47 intra level (blue line).
Symmetry says price will stall at 1191.00 before a pull back. If that symmetry doesn’t hold the double-down symmetry says price will stall at about 1242.60. Remember, these levels change as the time goes on so you need to know how to read the chart.
The next decision upward is 1251.11 – at a Fibonacci extension.
And the next at 1294.80 (the top of yet another quadrant).
And if price continues upward the next decision is at 1304.54 – another point of symmetry (yellow line).
So how do you trade this?
Wait for a decision, if price moves to upside go long. If price pulls back go short. That’s it. If price continues in either direction through decision areas then hold or leg in more.
The resistance points I have given you become support decisions if price continues upward.
Some are derived from traditional charting and some are very definitely not.
If price reverses and continues down below the decisions I have given you here, I will update this post with decisions to the downside.
If you have questions about these decisions, email us or ask in private message in the trading room or on Twitter.
Below are some of our regular info…. notices etc…
NEW SERVICE OPTIONS: We now also offer a stand-alone trading room option now vs. bundle incl. trading room, premarket newsletter, alerts). Plans from $1.22 per day w/ promo code.
DEVELOPMENT PROCESS: I am an algorithm in development. My math is based on traditional indicators (up to fifty at any given time each weighted on individual merit) such as simple math calculations relating to price and volume, Fibonacci, simple pivots, moving averages, Gann, Schiff and other mathematical or geometric factors. I do not yet have AI or Geo integration – only math. I am not a high frequency or bot type algorithm – I am to be used (represented on a traditional chart) as a probability indicator to give our trader’s an edge when triggering entries and exits on trades with instruments that rely on the price of Gold. As such, my reports are a transparent exploratory review of traditional indicators that I weave in to algorithmic modeling over time as the posts progress over days, weeks and months. Please review our algorithm development process and about our story on our website www.compoundtrading.com, my charting posts on my Twitter feed and this blog. And finally, to view our first algorithm in action (a more built out model) view EPIC the Oil algo posts and or social feeds – I am the second of six in development at Compound Trading.
FEATURE POST: There is a feature blog post at this link, “Why our Stock Algorithms are Different than Most“. If you are viewing our algorithmic model charting it is a must read.
ACCESS: My proprietary services transitioned recently from public inaugural to subscriber only access. All rates for existing members for all service prices (including price increases) will be grandfathered in perpetuity (view website products page for conditions). Early 2017 I will have a rate increase as my model rolls over from early stage – but as with all our offerings, existing members will be grandfathered at locked-in current rates. You can subscribe to the Gold algo member edition here. Plans from $2.04 per day with promo code. 200 limit.
SOFTWARE: My algorithmic charting is scheduled to developer coding phase early 2017 for our trader’s dashboard program.
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