Gold Trading - All is gold, does not glitter, Sellers in control

Gold Trading - All is gold, does not glitter, Sellers in control.  

Let's get to the gold charts. Remember, when selling occurs in gold and there is volume there is fear in the market that will normally cause the selling to continue. Gold sellers have moved in. There is a lot of different stories out there as to the timing of gold prices and the selling of Gold by Cyprus. Sort of a punitive measure for them using their only capitol reserve to pay off Banks that didn't know when to stop lending. Too bad once they sell then they will have no real Capital Reserves. 1478 looks like the short term support.  Watch as sellers can either panic or pull back for a small retracement to 1500. Once 1478 is broken the next major support is 1381. A more logical support will be the psychological support that will come in at 1400.

Gold Trading and ETF GLD

GLD the Gold ETF is showing the same weakness with a thin bid giving sellers push in this market. Downside support is 142. but looking for a Gap down to around 140.50.  The next major support if it breaks here is 136 to 138 area.  Watch this at the open as another influence in the over night is some support in the Japanese Yen pushing the Dollar index up. Watch yourself as this is a volatile market, it is best not to trad [...]

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Forex AUD/USD

Forex AUD/USD trading, Direction & Target Using Futures 6A.

[caption id="attachment_6405" align="alignleft" width="300"] aussie[/caption]

Forex AUD/USD Trading , 1440min chart

We are in Bullish trend line. On 1st move up, buyers had low volume, and weak movement. Sellers took this opportunity to bring Aussie Price back to MA50. Strong volume but weak movement from sellers. After Sellers test MA50 and fail to pass, with so much volume, buyers get organize and bring Aussie price to new high. [caption id="attachment_6406" align="alignright" width="300"] aud/usd[/caption]

Forex Aud/USd Trading , 60min chart.

I use 60min chart, to clearly see that we are in a small consolidation. What I'm watching for, is who will control my "Green / Red" zone, and if sellers will pass my "important buyers support" My Targets are Green line, and Red Line, depending on witch direction you will take. For my self, even if I'm both on this one, will prefer Long position for now.

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End of Yen Sell OFF?

Japanese Yen (6J Futures Contract) show that we are at lowest level since 2009.

[caption id="attachment_6396" align="alignleft" width="300"] japanese yen[/caption] As you can see, we have a very nice buyers resistance at 0.010070. will 6J keep losing value in long term? Can't tell you, but what I can , it is a great opportunity to trade 6J. What I'm Looking for now ,is buyers taking this opportunity to bounce at this level, and retest Sellers Support. [caption id="attachment_6397" align="alignright" width="300"] japanese yen[/caption] Since, most of the time Sellers was in Total Control, I suggest to trade Yen on very short time-frame. For now I will use 60minutes chart. After Buyers showing some good momentum to keep moving Long, I'm looking to see buyers take a break, and let sellers bring price at 0.010130 - 0.010110 . At this level , we should have a nice trade Long. My targets will be 0.010148,MA50 and my 2 Red line. To take trade long, sellers should not close under any of my green trend lin [...]

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