Gold Update

November 4, 2009 · Posted in Pattern Trade · Comments Off on Gold Update 

Gold reaching another New High.
ABC Bullish target (1.62AB) of 1111.4 and Nov.4th is the cycle target date.


Gold and Silver Targets

November 3, 2009 · Posted in Uncategorized · Comments Off on Gold and Silver Targets 

Gold, Silver surged today as the news of Reserve Bank of India buying Gold.
Here are the next potential Targets for @ZG, @ZI, GLD and SLV.


Auto ABC Bearish Pattern in Real-Time (Time-Lapsed Video)

November 2, 2009 · Posted in Videos · Comments Off on Auto ABC Bearish Pattern in Real-Time (Time-Lapsed Video) 

Yearly Pivot Support

November 1, 2009 · Posted in Market Structures, Pivots · Comments Off on Yearly Pivot Support 

ES sold off hard on Friday. ES failed to continue its upside momentum from previous day. About 11am ET, ES started showing the signs of sell-off when price traded below the Globex Low around 1056 level. Repeated lower-lows confirmed further downside momentum.

Many ABC Bearish setups/trades were triggered Friday. Around 2.30pm, I started noticing the Yearly Pivot (1029.50) as the key support level and may be respected. 3.05pm was the first time @ES tested its Yearly Pivot (YPP, 1029.5) and rallied to 1038. Not a big trend reversal, but this YPP levels can be traded for scalp for counter-trend trades. Second time @ES tested Yearly Pivot again around 4pm. Very few times, I have seen @ES traded near Yearly Pivot Levels. Usually yearly Pivot levels are well respected for a quick scalp.

In Trending markets, Market Structures (MSH/MSLs) are great sources for confirming the reversals.

MSH/MSLs pinpoint key reversal points when they are reversing from:
1. Outside the Fib. Bands
2. Bouncing off Key Pivot Levels/Price Profile Levels.


Fib. Bands
Floor Trading Pivots
Market Structures

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