GOLD CHART DAY TRADING MONTREAL DAYTRADING

Look like gold are in a very small consolidation and few others are coming soon...(we are between MA50 and MA200) I'm looking for "Long direction" because : -price never close under 1695.00 past 2 weeks. -We have 3 double Bottom, all in one place.(Black trend Line) I hope we will finish by closing above MA50 this week or next one, so we can use it as a Support to go Higher...to the double Top around 1752.00. One more thing, If Monday I don't see any small signal or clear confirmation to go Long.....I will pass for this Call.    

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This week, I'm looking only for Long Targets. 1^st I would like to see sellers fail one more time Monday . 2^nd waiting for my confirmation Long Call  1.A:Market Try to pass 1432.00 3-4 time, Fail every time. If you notice, is was hard not only cause of double top (1432.00 double top) but also the MA50 was strong a  resistance.  1.B: Now, MA50 are the resistance, and will help market to pass 1432.00. This week, we pass once 1432.00 and next day go even with more commitment. And we even try to close above my "Dark Trend Line".  2.A: 3 resistances all in same place: 1-MA 50 2-Black line : Double Bottom 3-Green Bottom trend line   [...]

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Montreal Day trading S&P500 / ES Futures-Contract Update for my Short Tragets

Hi, on my last post I said I was waiting for Short Signal...and it will take 1-2 day...so there we are.... My 3 reasons why I Short this: 1st:We never close above 1432.00 ,The price was not supported one more time. 2nd: we touch my "Blue" Trend line 3rd: 90% of others index are going for a short signal also. Targets: After this strong Swing, I have to re-check for my targets. 1st Target:1422: once I get my first target, I will check how market will react on my "green" trend line and then look to get out, or stay for 2nd target. 3rd target: Same as 1st one, check for next "green" trend line. Have a Great day Guys Next Update on week-end

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Time for a little short this week. Buyers can't go above 1422.00 , and sellers start to take control of market. I'm keeping my short target as it is...once it get to my first target (~1408), then, is only question about managing my stop, to get maximum cash on this trade. this day is not over yet...but however, buyers are weak...can't even go back to my double top ,and if it's going long for  1-2 day, I prefer wait for short signal. Thank You

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S&P 500 / ES 12-12

[caption id="attachment_5486" align="alignnone" width="739"] Montreal Trader , chart for day trading for next week.

Montreal Trader , chart for day trading for next week.[/caption]  

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Broken Window Fallacy - Does Hurricane Sandy spur the economy?

Hurricane Sandy - Does it help our economy to rebuild? The Broken window fallacy is a short video explaining how the press spins the Hurricane into a stimulus for the economy. Hurricane Sandy isn't a benefit to the economy, it just keeps the real demand for goods and services tight as income shifts to cover damage. We could see oil initially go down as the east coast was effectively turned off for two days and the markets closed. Gold, or the Panic commodity will also see some price relief as sellers will try and keep profits and the futures market will probably show some price pressure to sell as this is not good for business in the states.

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