{"id":19262,"date":"2011-02-10T09:55:42","date_gmt":"2011-02-10T14:55:42","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=19262"},"modified":"2011-02-10T09:55:42","modified_gmt":"2011-02-10T14:55:42","slug":"gold-trading-are-gold-miners-giving-us-a-flashing-sign","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/02\/10\/gold-trading-are-gold-miners-giving-us-a-flashing-sign\/","title":{"rendered":"Gold Trading: Are Gold Miners giving us a flashing sign?"},"content":{"rendered":"

By Chris Vermeulen, <\/strong>thegoldandoilguy.com<\/strong><\/span><\/a><\/p>\n

\n

The past couple weeks I have been keeping a close eye the price of gold and the gold miners index. I check to see if its pointing to higher or lower prices in the near future using inter-market analysis, price and volume, along with technical analysis. At this time the charts are still pointing to lower prices in the coming days or weeks.<\/p>\n

Taking a look at the daily chart of Gold<\/strong>
\nAs you can see it has formed a bear flag with declining volume and the price has drifted up into a resistance level. This combination typically leads to lower prices.<\/p>\n

With international fears floating around and the fact that inflation has started does make me a little weary of shorting gold but one thing I have learned over the years is that trading on fundamentals and news clips seen on TV is not a reason to pass on a setup if one forms in the coming days. The only thing that pays in the stock market is when the price action goes in your favor. This is why I focus on price, volume and momentum while avoiding what others are saying elsewhere. Trading is a numbers game and I put my money on the table when the odds are clearly favoring one direction. Unfortunately I am trading trades against what the masses think and feel is the right thing to do.<\/p>\n

\"\"<\/a><\/p>\n

Gold Miner stocks <\/strong>are forming much of the same pattern as gold bullion but today (Wednesday) the chart actually put in a possible reversal candle. If this is correct then we should see gold and most likely silver follow suit tomorrow by moving lower and possibly even start a correction.<\/p>\n

\"\"<\/a><\/p>\n

Gold Swing Trading Conclusion:<\/strong>
\nIn short, gold stocks sold off strong today while both gold and silver closed only slightly lower. When this happens near a resistance zone, with a bearish price and volume patterns I start to look for a shorting opportunity. It has yet to happen and I\u2019m not going to jump the gun, but I am waiting for the right opportunity to take advantage of these trading instruments.<\/p>\n

If you would like to get my daily trading analysis and swing trade alerts please join my newsletter: http:\/\/www.thegoldandoilguy.com\/trade-money-emotions.php<\/strong><\/span><\/a><\/p>\n

Chris Vermeulen<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

In short, gold stocks sold off strong today while both gold and silver closed only slightly lower. When this happens near a resistance zone, with a bearish price and volume patterns I start to look for a shorting opportunity.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-19262","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=19262"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19262\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=19262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=19262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=19262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}