Swing Trading

The Next Trade Opportunity in GLD

Obviously the stock market has changed and because of this, swing trading patterns that have been successful over the past several months are much less likely to provide the same results. Specifically, continuation patterns and holding periods longer than 1-2 days are not viable in a market with such wide swings both intraday and in […]

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Swing Trading

MDCO – Splashy Long Play

We have two long trade ideas posted in today’s Bulls and Bears section. One of them is in Medicines Company (MDCO). Please observe the daily chart below. Anyone viewing the weekly chart of MDCO would have to agree that the stock trades in a “splashy” manner. Currently MDCO is located at the bottom of its […]

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Swing Trading

GLD – Reading The Daily Chart

Firstly, as an update to Monday’s issue, the NAAIM Exposure Index number of 49.76 was released yesterday. As for today, there isn’t much out there that we like ahead of today’s option expiry. Of any sector though, gold (GLD) looks to be the most intersting. Please observe the chart below. Here is how we are […]

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Swing Trading

GLD – Gold

A detailed look at Gold (GLD) is illustrated below. The red circles on the daily chart of GLD highlight the numerous attempts price has made this year to surpass the 123.00 level. The bulk of GLD volume over the past 18 months has traded between 115.00 and 131.00. The 123.00 is very close to the […]

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Swing Trading

GLD – Short At Top of Channel

A short trade in gold (GLD) is illustrated below. GLD found resistance at the top of the descending channel outlined in red. The 38.2% level of the Fibonacci retracement drawn from the high on 7/6/16 to the low on 12/15/16 is contributing to the resistance. Yesterday, GLD gapped down but finished the day closing higher […]

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Swing Trading

Gold Bouncing?

Gold is testing an important level which is illustrated on the chart below. Gold has held support of prior lows over the past three days. Shorts will begin to feel pressure to cover if price continues to creep back higher. This could push gold back to the next level of resistance around 1250.00. Traders can […]

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Swing Trading

GLD…If….

Please observe the chart below. Gold (GLD) will be moving one way or another following the release of the jobs numbers this morning. If the number is flat to soft, GLD is very likely to take off higher. In this case, nimble traders could buy the ETF over yesterday’s high and take advantage of the […]

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Swing Trading

Gold and the New FOMC Facebook Page

The chart below is absolutely the most interesting we came across over the past weekend. If you can see it, the little red line in the lower left corner is the rise in gold since the beginning of this year. Shocking perspective is gained when it is plotted against the last three bull markets in […]

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Swing Trading

GLD – Looking for Continuation Higher

Unless gold gaps up in pre-market trading, we’ll be setting a buy-stop order this morning in GLD based on the set up illustrated below. GLD bounced back nicely to fill the gap of Wednesday’s gap down and closed just under the current short term descending trendline. The play here is not a complicated one. We’re […]

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Swing Trading

Beating The Drum on GLD Short (again)

We’ve beaten the drum on a gold (GLD) short a couple of times over the past two months. Here we go again. Last week, GLD put in what could eventually become its first lower high (reed arrow) before ending the week back under the long term descending trendline that originates from the high on 8/27/13. […]

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Swing Trading

Gold Still Dealing With Long Term Resistance

The long term resistance facing gold (GLD) discussed in the March 1 issue of the ShadowTraderPro Swing Trader has yet to be resolved. Please observe the chart below. GLD is fighting to maintain its uptrend at the top off the descending channel originating in August of 2014. The orange arrow highlights the long shadow of […]

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Swing Trading

The Road Paved With GLD Leads Lower

Good morning traders. Gold (GLD) has stalled at the top of a long term channel and is poised to begin a move back lower. Please observe the chart below. The weekly chart illustrates the location of GLD on the longer time frame while the daily thumbnail shows the triangle forming on the daily chart and […]

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Swing Trading

Gold Coming Into Key Reistance

Good morning traders. In early January, we illustrated a long entry opportunity in gold. Since then it has moved higher and is now at key resistance. Please observe the chart below. Interestingly, the broad stock market is having some trouble continuing lower in spite of bearish sentiment. We are watching gold which could tip us […]

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