Tuesday, November 23, 2010

Quick update

Hi, I planned to show you our current situation on charts, however, I am very tired I rather write few rows and trust in Steffan he will give you the corresponding RUA charts.
Steffan, many thanks again for your help.

If Steffan will not put his charts, please open an account, you'll still be able to follow things today and make decision intraday.
YOU WILL NEED THAT. Follow histo and oscillator on-line and measure the power of the upcoming bull cycle.

2-days RUA
Market is not safe. Still not safe and could not reverse this current bear.
What is a good signal, there is a stagnation in spite of today's selling.
We could not observe a panic day, in panic days volume spikes minimum 1.2-1.3x of average volume.
Also making fakeout analysis, I still must say, it's a fake bear.

1 day RUA
Histo shows we are on the edge of a bull tur, we can see an almost complete elimination of this bear.
Selling volume declined, and what is an important signal, buying volume rose from steady zero.
If the Korean war were not in place, I'd jump in with all of my stakes. However, I took a moderate position and I rather choose to wait a little. I might miss some profit, but can sell if things worsen.
Our purpose is to ride market safe.

60 min RUA
Current bear cycle seems to be over on 60-min giving chance to a bull cycle on 60 mins.
When both 60 mins and 1 day in a bull setup, chance is high for a price manifestation.
So what we need to monitor tomorrow is to check the health of these two synchronous bull cycle waves.
It tells a lot for us and with a disciplined behavior we will be able to protect our profits/make some more money. 

60 min XAU and HUI
Same. we could se an elimination of the current bearish cycle instead of the selling today. Also gold kept extremely well..

-In case of fierce negative price manifestation - failed bulls mean we need to liquidate most of our positions
-In case of neutral price manifestation - giving up half of our positions
-In case of moderate or strong price manifestation - hold stakes and wait

So, this is the plan I am repeating: market is not safe.

Good luck!

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