Video: Russian Gold Monetary System?

Possible break with Western Banking!

The Russian Treasury is planning financial dealings that will be independent of its central bank, which is part of the BIS (Bank for International Settlements) system.

Although relatively minor, these actions may be a first step toward Russia’s separation from Western banking control, and could even portend a Gold monetary system more amenable to Muslim and non-Muslim countries alike.

These are certainly “interesting times.”

Happy Trades to You!


How Strong is the Dollar?

Various pundits continue to believe that the value of the U.S. Dollar, noted here by the Dollar Index (DXY), is headed down.  Although there may be rising prices at the supermarket, worldwide the Dollar remains the primary “flight to safety” currency.  That characteristic is enhanced by the Euro’s teetering future and American influence over Japan, among many other factors.

With a median target of 103.32, the DXY chart will soon reveal if this E-Breakout is for real:

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E-Build Pattern In Gold’s XAU

Probing continues for a Trading Range bottom.

Again, the simple A-B-C-D-E = F method is used, this time in a sideways wedge where potential is building.  This example now predicts eventual up moves, toward an extended F point.  (The pattern also applies to the downside.)  Here, E must not fall to the C point:

“Creeks” are created when troughs, or valleys, overlap into peak areas.  From above it’s a form of support, and dipping too far means going “underwater.”  From below, upside resistance has been met, and we must overcome.

Happy Trades to You!

GOLD: A Tale of Two Trades

JNUG and JDST were double digit gainers on Tuesday.  Both Bulls and Bears made money.  JNUG’s gap-down open ended with a playable high volume bottom, up into the previous close.  Gap players made good money while stronger hands did much better.

Round-trippers compounded their money by shorting via JDST.  Again, stronger players did better – of course, as risk increased.

Bulls made money. Bears made money. Pepe got Miss Piggy!

Happy Trades to You!

GOLD Short: Three Interesting Trendlines!

There was an 18% move in JDST today after its gap-up E-Breakout open.  The three trendlines – Hyper, Primary, and Secondary – made a pretty picture, but any part of such a great early gain should be taken immediately.  A base for the Trading Range continues to form.  There appears to be more downside for the precious metals.

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Tug-of-War: FED vs GOLD

Great expectations must often be lowered.

Got in and out fast near the bottom Thursday.  The very low price beckoned, but again, the best approach is always to bet after the race is over!  In this case that means after the three FED governors spill their beans at lunch today.

Searching for a bottom here.  Two old rules still apply:  1. Don’t fight the FED, and 2. Don’t fight the Trend.

More to come (it’s now 11:30am-et). – Update: Youtube briefing.

Happy Trades to You!

Gold Backed Bitcoin?

GOLD: Tacking Into Strong Fedwinds

The GLD pattern shouts this (note the E-Breakdown).   Folks thinking of buying physical Gold or Silver should consider holding off for awhile.

It’s highly suspicious that the February Jobs Report was delayed a week from its normal day, Friday March 3rd, in lieu of three FED governors jawboning various of their sycophants around lunchtime (before the markets close!).

Bitcoin just passed Gold in price.  How about a Gold-backed Bitcoin?

Youtube channel.

Happy Trades to You!

GOLD Encounters Strong Dollar

Will the Trading Range bottom hold?

A rate increase at the March 15th FOMC meeting is more likely now after hawkish comments by two FED governors.  Also, the general markets are at all time highs, which could encourage even dovish Janet Yellen to go along.

Sold JNUG for a modest gain (best to take small bites here).

Happy Trades to You!

XAU Gold Index Nears Target

Will accumulation begin?

The JNUG setup, via a significant gap down open, did not materialize; however, by close of business it finshed down over 25%, on volume, and was caught at 7.41.  A possible gap down open tomorrow would be another great low ball entry point.

Top day trader oleman, now retired, mentioned years ago that three significant down moves are often followed by a large counter-trend rally. The rally in JNUG is expected soon, or may have already started.

Friday’s Hanging Man in GLD was followed by today’s Shooting Star.  As a fair representation of the Gold metal, this suggests a test of January lows, which should not happen if the miners are entering an accumulation phase.  An enigma.

Tomorrow’s GDP number, and Trump before Congress, should keep things interesting.  See the Youtube channel for more reports.

Happy Trades to You!

It’s Time to Accumulate Gold!

Weekly GOLD Roundup

As the old stock “accumulation and distribution cycle” kicks in for the miners, pickings will become better for value driven investors.  Traders who want volatility will welcome the data to be released next week, beginning with Tuesday’s significant fourth quarter GDP number, which should fuel some fireworks.  These are really great times for both the Gold investor and the trader.

Friday’s action in the precious, as typified by the XAU Index, is conclusive proof that we’re now in a downswing consolidation phase, and that a likely trading range is developing – something like that noted with the red hash lines:

Gold appears to be topping:

There is much more now at Youtube.

Happy Trades to You!