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Just bought Silver

At the start of the week, I was looking at the currency pairs trying to see what was strong and what was weak.
For quite some time, I've been extremely bullish the GBP. I've also had a swing trade on NZDUSD & NZDJPY which I've been short for months. I have closed the Kiwi trades, and waiting for the right time to close the GBP trade.
It's not very often that I find myself bearish the pair I was most bullish, and bullish the pair I was most bearish, but that seems to be the case.
On another note,…
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Metals Update

Yesterday I blogged about a potential long opportunity and several key technical areas in the metals.
There was an interesting article that I came across since then, which adds more conviction to the trade. This was published by Reuters on July 7.
UPDATE 1-U.S. Mint sold out of silver coins due to strong demand
Follow the link to read the full article. The most interesting part of the article was this
This is the second time the mint has sold out of silver coins in the past nine months
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Shinga avatar
Shinga 9 Jul

interesting Jignesh

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Establishing Gold & Silver Longs for a Swing Trade


There is a technical setup in Gold I've been keeping a close eye on for the last few years. Monitoring the wave structure trying to catch a good level to go long.
According to the wave count in Gold, the bottom has already taken place on Nov 5th, 2014 @ 1130.
Since then the price has seen a bullish move and a deep retracement.
The charts below show the setup and wave counts.
Figure 1 - XAUUSD Daily holding it's trendline and key 88.6% Fib Level

Figure 2 - XAUUSD Daily Wave Count

Th…
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Gold to Continue Bearish Trend

Gold is in a long term down trend and has seen some bullish momentum to start the year. The shiny metal has approached some resistance however and the wave count shown below indicates a turning point.
The metal should be under pressure for the month of February, but as the daily trend is currently bullish, dips may be bought causing some volatility to the downside.
Levels
1307.47 - Jan High
1301.00 - Jan Daily close High
1282.88 - Fib Retracement - 50% (1132.08 - 1433.70)
1265.95 - Fib Re…
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SalviLeana avatar

Good job ! Great

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Jignesh 9 Fev

Gold has already surpassed the target on the back of a strong NFP number that took out several support levels.  Currently sitting just Below 1240, the pairs looks like it has just broken a flag patter and looking to retest lows

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Jignesh 25 Fev

Gold looks like it may have made a bottom here at 1200.    It has surpassed the targets.  We can see some bullish movement into the end of the month, but reaching targets with 2 days left does not look likely

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