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Gold Watches


 -- Published: Wednesday, 12 August 2015 | Print  | Disqus 

By Robert Alexander

There is more than one type of Gold Watch.  The obvious one is the one that you carry around to tell you what time it is. The Gold Watch that we have been carrying around here at Chartfreak is the one where you closely watch Gold and gather clues about its next possible trade / rally.  We were very prepared for what is unfolding currently.  Let me share with you some of the charts I’ve used in the past week to prepare readers in the premium section of my reports this way.

The general markets could be a little “Toppy”, so I pointed this out first.

SPX WKLY Aug-7

Aug 3 I reminded readers that the Semis were sagging

SOX 8-3

Earnings were disappointing.  If the markets drop , maybe the metals would Pop?  I showed charts of DIS, GMCR, TSLA, VIA, etc

DIS

AUG 5 –  Many thought that the dollar was strong , ready to break to new highs and run to $1.20.  I said that the dollar appeared to be  weakening internally to me .

USD 8-5

AUG 5 I viewed it this way .  If the DOLLAR DROPS,  could Metals POP?  I expected the Dollar to drop.

USD 8-5 (2)

Back on July 26 –   The C.O.T., $BPGDM, EXTREME NEGATIVE SENTIMENT also pointed to lows in GOLD soon.

COT GOLD 7-24

Though there is risk in all trading, and anything can happen due to geopolitical changes or circumstances, We were being dealt a favorable hand.  A strong hand in the Precious metals sector was being dealt.

POKER

To help readers to see this as a possibility….

JULY 29 _ Most still calling for a plunge to $900 Gold ( yes it was possible) ,  but I pointed out that many were saying GDX had a bear flag.  I thought it looked a lot like March lows  AND I saw individual Miners starting to be accumulated.  This added to bullishness.  I used these charts below –

GDX 7-29  2

NG– running higher with Gold selling off?  Bullish.

NG

Gold selling off, but SSRI is not even close to the March lows

SSRI

I’ll admit that I’m not a great E.W. technician, but I did think that these patterns fit well for what I was  “Watching”.

Bear correction

GOLD CORRECTIVE 7-30

GOLD E.W. PATTERN

FAST FORWARD to this past weekend.  I showed various charts including this one.   HEAVY VOLUME but price couldn’t sell off??  THAT seems like accumulation.  At the very least this is a low risk buy at this trend line, because your stop is close below and the upside could be great.

GDX WKLY 8-7

So far Monday and Tuesday have not disappointed, and many Miners are moving higher with good %-Gains .  Have you seen  SA? Up over 70% from its lows.   ( Disclaimer: I didnt grab this one early enough, but there are others set up in similar double bottom fashion).

SA 

I believe that this is not a 1 or 2 day pop, I think we are already seeing small bases and double bottom lows preparing to rally higher. I have been telling my readers that this set up is the type that usually runs for several weeks.  Of course,  they dont usually run straight up,  there can be pullbacks in the stair step climb higher that offer buying opportunities… It may help if you have a ‘Gold Watch’ on your side.

Maybe you’ll consider signing up for a month and see if you like what we have to offer here?  Todays report alone will have over 20 charts.  We also have a small chat section/ comment section under each premium report where some of our  experienced traders share their ideas or questions too. If you’re not able to sign up at this time, I still want to thank you for reading along here at the free content section of the website.

Happy Trading!

~ALEX

P.S. I have been preparing readers since this spring that a nice summer rally would arrive this summer.  The potential %-Gains could become the best short term trades you make this year.  Best Wishes :)

www.chartfreak.com


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 -- Published: Wednesday, 12 August 2015 | E-Mail  | Print  | Source: GoldSeek.com

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