Gold in Canadian Dollars

This might be a stupid question (I’m good at that), but when I look at gold in Canadian dollars I get a very different read than what I see in the $US charts. (And many thanks to all for the great charts!)

Obviously, what happens to gold in $US will impact the $Cad chart. But clearly the changing exchange rate is also having a major impact on the $Cad gold chart.

So, has anyone applied their charting techniques to gold in the $Cad? If so, I’d value your insights as I try to get a handle on this aspect. Thanks!

GOLD remains bearish until the RSI breaches 50 and CCI breaches zero…

gold
and/or breaches the 34 MA which is currently 1338
for starters; then of course, the 50 MA.

Trading Volatility…

uvxy

The VIX does one or two things–up or down. Using the Heikin-Ashi charts, the “volatility” is smoothed out SUBSTANTIALLY versus candlestick charts…Using just the TRIX and the candle color changes look how “easy” it is to trade UVXY/SVXY. Add the volatility index to your diversified trading portfolio.

Matrix :”Time to Vent”

This post by Goldtadise’s very own Matrix at Trader Dan’s Beehive Forum and Subsequent Reply from Dan is a straight shot
I know both sides of this story as 5 years ago I was one of these zealots .
Fullgoldcrown
Note : The beehive is only available with a Trader Dan’s World Subscription
this post was stolen :
…………………………………………

Time to vent!
Matrix
January 24, 2015,2:11 pm

Just read the comments section off Dan’s “Gold due for a setback” at Safehaven and Goldseek

I apologize for mentioning yet again my reference of 22+ years within the currency business but it does give me the right of experience to post a Shout over some of the comments regarding Dan’s article.

Reminds me of those that yell at the professional athlete “you bum” as you order another hot dog sitting in the bleachers!

I don’t think, in fact I know of no other investment that brings out the deaf, dumb and blind that gold followers highlight to perfection.

Just The Facts, just the support resistance zones of gold, just the technical reaction when X fails Y suggesting Z is the results.

It absolutely blows me away how so many follow those that have been wrong for sooooo many years regarding golds action…..we had a saying in the office, you’ve been wrong for 3 months come back to me when you’ve been correct for 3 months, well make that going on 4 years now since gold has rolled over off its highs.

I’m not going to name names as the list is too long! of self proclaimed gold gurus who have been incorrect for years suggesting every 10%+ pop in gold is THE bottom….14 bottoms later @#$!!

TRADE off whats in front of you NOT the claims of $50grand gold OR $500 so when Mr Market takes a breather and retraces only complete morons label those that highlight the correct action as a Traitor!

Even a 1 eyed retarded monkey can call a bull market, its those that have correctly called the action while gold has been clearly in a Bear market that one needs to follow….Norcini is clearly in that rare camp, never suggesting to da moon or to dust…..just highlighting one chart zone at a time.

I can tell you while sitting on the currency desk, never, ever, ever did I suggest anyone look on the web for so and so’s opinion as to whether my position was correct…..its ALL ON THE CHART…I’m not a Bull or a Bear…I’M A TRADER

Follow The Best, Forget The Rest

Reply

Trader Dan

January 24, 2015,2:28 pm at 2:28 pm Edit

Matrix;
Thanks for the outstanding post; it is full of wisdom gained from experience.
The reason that the gold bugs are held in such contempt and scorn by those who actually make their livings in the market is for the very reasons that you site. They know ONE DIRECTION for gold – UP. Every single last one of them would starve to death if their livelihood depended upon actually reading what the market has to say because they are too blinded by their own opinions.
Like I have said repeatedly over the years – opinions are like armpits – everyone has them and they all stink!
The mark of a good trader or investor, is that of being able to correctly read what a market is saying and placing their trade accordingly. Sometimes that means being long; sometimes that means being short; sometimes it means having NO position at all.
This is the reason I penned that commentary a while back which I entitled. “THE GOLD CULT”.
Make no mistake about it – for most, if not all of the gold bugs, gold is a RELIGION. It cannot be questioned; it cannot be denigrated; it cannot be spoken against for that is heresy.

These people actually scare me because in many cases, they are like rabid dogs – lashing out at anyone who dares to call their yellow metal god into question. I find their attitude towards those who disagree with their perpetual calls for “moon shots” in gold very much akin to those who dare to criticize the prophet of Islam. It provokes a fanatical response filled with vitriol, wrath, vile insults, denigration, etc.
That is all the proof one needs to understand that for the majority of gold bugs, gold is a cult. That will never change.
For those of us who actually take a rational, seasoned, objective approach to the markets, gold is merely another asset class that fills into and out of favor depending on where we are in the business cycle.
I have watched the gold cult members follow their blind gurus into the toilet and lose the vast majority of their life’s savings, and yet remain as blindly devoted to their deceiving hucksters, shills and charlatans as ever. It really is quite astonishing to see how dense and naïve some people can be.

Escape velocity attained….

sc

 

rocket lady

Simple Silver Charts (KISS)

Weekly

End Around or End of the Bounce ?

Either way we will know soon

SILVER

Daily

SILVER

Simple is as Simple does

forrest-gump-original

GDXJ 60…ONE LAST CHART–HAVE A GREAT WEEKEND!

gdxj

http://stockcharts.com/h-sc/ui?s=GDXJ&p=60&yr=0&mn=1&dy=0&id=p36580190488&a=386040439

COMMODITY

JDST 13/34 60 MIN MOVING AVERAGES ARE ABOUT TO CROSS…

    AGAIN, ONE OF MY TREND CONFIRMATIONS…
    ALSO, THE JDST BULL/BEAR INDICATOR ON THE 15 MIN IS CLEARLY IN BULLISH MODE!

FGC glad you mentioned Island Reversal patterns…

Look at the JDST 15 too. We have the gap down, the island, then if this “island reversal” holds true. Should see a gap up on JDST on Monday. That would be a beautiful text book example of a “bullish island reversal”…:-)

Eagle great work today..as always

Do you see an island top developing in the PM Stock Indices ?

JDST BULL/BEAR STOCH 144 INDICATOR ON THE 15 MIN. IS CLOSE TO BREACHING 50…

THEN WE WANT TO BREACH 70 AND SUSTAIN THAT LEVEL IN A BULLISH RUN IN JDST…

JDST IS ABOVE 34 EMA AND MACD IS GETTING CLOSE TO ZERO BREACH…

FIRST RESISTANCE IS 9.13

JDST Bull Flag?

http://stockcharts.com/h-sc/ui?s=JDST&p=60&yr=0&mn=2&dy=0&id=p39102063573&a=384852156&listNum=1

GOLD

gold (4)

Bear Market Rally (BMR) or New Bull ?

Let’s step back and take a look at where we are and eyeball a few charts. I think one needs to resolve the key question with oneself. Are we in a new bull market or has this been yet another BMR within a big bad bear market that has not yet hit bottom? Rambus’ long term charts argue that the bear is not yet over. My studies with the psychology of bear markets and the categorizing of phases also argue the bear is not over. So if one was to also conclude the bottom is not yet in, then by definition this current 12 week rally is a BMR. So one should ask when does it end and how high can it go? Let’s look at what we have seen so far: 3 BMR’s 8/12/18 weeks long. Amplitude of price extension has been 40% 39% and 38%. Our current BMR #4, if this is not a new bull, is 12 weeks and the biggest one yet at 42%. This alone would argue for the prudent to start taking chips off the table if you are long.

sc-956 sc-958

Note the volume in the charts above on the weekly basis. The second advance, since the beginning of December, does not have the push that the first advance had off its lows in November. That’s a red flag in my book. The stochastics have not turned down yet so we may have further to advance or at least chop sideways before its over, but it seems to me that if you are not a believer in a new bull market yet then the exit door is open here for a safe exit. I understand the main chorus of opinion is calling for 1350ish gold or higher, and we may get it, but in the past this has been a good place to exit. What I am personally looking for to signal me that the bear market is over is for the GDX to trade above 28. I would then look for a pullback followed by another move exceeding that previous high. Until this course of events occurs the weight of the evidence is that we are simply experiencing another BMR en route towards lower lows .

The current state of the gold market also seems pretty positive. Gold is starting to actually act like a pure alternative currency that it is. Providing a port in the storm against conniving governments and central banks. But the charts allow for a cycle down from current levels and may yet fulfill their measured moves as seen on the chart and fully express themselves in a phase III plunge.

sc-954 sc-955

I just got back last night from skiing in Telluride and couldn’t resist the metaphor of the two trails we skied down….was it prophetic? Our charts here allow us to see forever and we are headed for the Plunge!

Plunge Telluride

………………….

Editor’s Note Plunger is an associate writer and Resident Market Historian at Rambus Chartology and Goldtent

His Previous work on Bear market Analysis here

http://plunger.goldtadise.com/

email the author gmag@live.ca

For Grinn

Where you live

http://www.cbc.ca/schittscreek/

You may as well watch it all ..make sure you see the end

a few commercials to get by but worth it

Confessions of a Momentum Trader

gdx

Historic Day …Dan Norcini

http://traderdan.com/?p=1665

GDXJ 60 MIN CLOSE UP…

GDXJ CLOSE

http://stockcharts.com/h-sc/ui?s=GDXJ&p=60&yr=0&mn=1&dy=0&id=p36580190488&a=386040439

GDXJ

gdxj

http://stockcharts.com/h-sc/ui?s=GDXJ&p=60&yr=1&mn=0&dy=0&id=p83661491395&a=381275597

this is a chart I have been using the past year to gain a larger perspective…

NUGT is not as volatile as JNUG…

FGC once referred to JNUG/JDST as the devil’s spawn…

To Play it “safer” use the RENKO daily in a previous post…

JNUG 60

http://stockcharts.com/h-sc/ui?s=JNUG&p=60&yr=0&mn=0&dy=18&id=p81613933390&a=385098478

The SPX is making a new highs for the week after the ECB QE announcement – bullish for a hard rally into Friday

The ECB QE announcement this week is pivotal in our work. The SPX and NDX are making weakly highs (after the New Moon Timing Window) implying a higher target of the rally that began on 1/15 – leadership by the financials is key. We’re looking for a strong rally through Friday.

The resiliency of gold after the announcement is also notable – the GDX and gold are just making minimal pullbacks.  Yesteday’s decline in the GDX allowed the HUI to escape a potentially dangerous 5-day run up scenario that might have given us a sell signal.   Trader Jack

To follow the waves and turn windows of the SPX and gold, follow my blog:

http://allstarmarkettiming.typepad.com/my_weblog

 

JDST 15 Min…Bluelong another chart

I use this chart also to help signal a change in momentum…when the stoch 144 breaches 50 is a buy signal. But again, with any indicator, it’s not “perfect”.
The 144 ONLY works on the 15 minute…

http://stockcharts.com/h-sc/ui?s=JDST&p=15&yr=0&mn=0&dy=20&id=p19393566668&a=379351883

Ideally want to see the stoch riding above 70 when the momentum is “bullish”
Then can confirm the 15 minute with the 60 minute chart:

http://stockcharts.com/h-sc/ui?s=JDST&p=60&yr=0&mn=2&dy=0&id=p39102063573&a=384852156

Is this a BULL FLAG?

These ETFs are designed to take your money…DO NOT PLAY unless you can read these indicators like a second language. Also, the 13/34 MA crosses are invaluable in determining the direction of momentum. Good luck!

bluelong

The “one hour” Tweaked TSI is not a safe indication….the daily is the best application….Good Luck!

I assume you have stockcharts and will be able to see this Gold chart

http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=0&mn=1&dy=10&id=p31502238442&a=357435141&listNum=1

Its in the ADD MEDIA section but it wouldn’t transfer for me…..??

CHEER$!

Gold losing upward momentum

losingmomentum

“Thousand-miles journey begins with the first single step.”

To practice what I have learned from Matrix’s TSI 747:

On gold hourly chart, gold price still going up (from 15 Jan), meanwhile the TSI 747 going down (make lower high). This may means that the top 1305 for gold was in.

GDX and NUGT from Trader Jim

Back at it…  Sold NUGT Tues… 20.60 and flipped into DUST.  We shall see what happens.  So far so good with Wed’s action.    Tues was the New Moon, likely a top.

Tues Sell Signal

Nugt_2015-01-20_0940

The 15 (lower left)  needs to fail tomorrow and we’ll get sequencing down.

GDX_combo_2015-01-21_1634

 

Right or wrong the 3x ers are amazing movers.

 

 

 

GDX Daily

gdx

Bearish engulfing today AND GDX HIT THE 38% FIB LINE…

Also had a bounce off the 200 MA…
Need to breach 200 MA for the bear case.