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Short term Gold Price Action
Gold has reached the 1st ODDS favored target low point for the week (1266-1272) with a 1271.96 spot gold print. The 1255 area (1243-1255) is the 2nd ODDS favored target low point for the week and possibly the move down on this current short term cycle which is due to bottom Feb 3rd (plus or minus 72 hours). That means the "window" for a low on cycles doesn't open until the close of Thursday trade. Thus is it still possible for gold to get one more push lower as Options Expiration and the FOMC meeting conclusion takes place Wednesday afternoon.
 
What is very important is that the 1272 weekly reversal point is still being respected as a most important point. It was last weeks low and it is now this weeks low. Thus is is not out of the question that we made the low today.
From a channel perspective, yesterday and today's low so far has hit the mid-line channel. That 1256 area is at the lower channel line. The upper channel line is resistance if gold is still in its down pattern. That should be 1288-1292. If we're still following the channel, then 1288-1292 should be resistance on Tuesday. If that is the case, then the potential to pullback to 1256 will still be a potential. With the FOMC and Options expiration on Wednesday, we might get a spike down there.
In summary, we've reached the 1st place where gold can turn this week and even the low for the cycle (which would be early). This is because 1272 is so important as a reversal price.
Short Term Cycles
What is very important is that the 1272 weekly reversal point is still being respected as a most important point. It was last weeks low and it is now this weeks low. Thus is is not out of the question that we made the low today. The "cycles" and "window" we use for a standard deviation has most points (85%) inside that window. But as all standard deviation measurements, there will always be data points that are outliers outside the standard deviation. There is no escaping this as there will always be "SOME" early and late cycle turns (about 15%).
If the cycle does play out then we have one more push down before the low. Watch 1288-1292 as the first key resistance that gold needs to hold to still be in the down-trend channel. If we close above 1295 then it is possible that the low is in place and higher prices are coming. I wish i could narrow it down to one target, but it is impossible to "black box" a market that deep. The two targets are the best we can offer as to this weeks low. Even then, it is always a series of ODDS (and not absolutes). There are no absolutes.
I'll keep watching, but the bottom line, those who are looking for a trade to long gold have these two as the best potential this week. The bottom line is that we reached one of the two most likely low points for this pullback. If gold is super strong, then 1266-1272 will hold. If it's just strong, then a retrace to 1256 can develop.
{Contact_First_Name} {Contact_Last_Name},
A Signal Trade Update on GoldTrends.Net
Gold has reached the 1st ODDS favored target low point for the week (1266-1272) with a 1271.96 spot gold print. Right now I have the buy point at 1257 as that is the 2nd ODDS favored target low point for the week and possibly the move down on this current short term cycle which is due to bottom Feb 3rd (plus or minus 72 hours). That means the "window" for a low on cycles doesn't open until the close of Thursday trade. That is why I have my current order near that 2nd target near 1256 as the odds favor the TURN is not until after Thursday.
What is very important is that the 1272 weekly reversal point is still being respected as a most important point. It was last weeks low and it is now this weeks low. Thus is is not out of the question that we made the low today. The "cycles" and "window" we use for a standard deviation has most points (85%) inside that window. But as all standard deviation measurements, there will always be data points that are outliers outside the standard deviation. There is no escaping this as there will always be "SOME" early and late cycle turns (about 15%).
From a channel perspective, yesterday and today's low so far has hit the mid-line channel. That 1256 area is at the lower channel line. The upper channel line is resistance if gold is still in its down pattern. That should be 1288-1292. If we're still following the channel, then 1288-1292 should be resistance on Tuesday. If that is the case, then the potential to pullback to 1256 will still be a potential. With the FOMC and Options expiration on Wednesday, we might get a spike down there.
In summary, we've reached the 1st place where gold can turn this week and even the low for the cycle (which would be early). This is because 1272 is so important as a reversal price. If the cycle does play out then we have one more push down before the low. Watch 1288-1292 as the first key resistance that gold needs to hold to still be in the down-trend channel. If we close above 1295 then it is possible that the low is in place and higher prices are coming. I wish i could narrow it down to one target, but it is impossible to "black box" a market that deep. The two targets are the best we can offer as to this weeks low. Even then, it is always a series of ODDS (and not absolutes). There are no absolutes. I'll keep watching, but the bottom line, those who are looking for a trade to long gold have these two as the best potential this week. I'll leave my buy at the lower target in lieu that the odds favor the cycle turn is not complete yet. The bottom line is that we reached one of the two most likely low points for this pullback. If gold is super strong, then 1266-1272 will hold. If it's just strong, then a retrace to 1256 can develop. The chart shows the two most likely points.
==================================================
GOLD CURRENT WEBSITE TRADE
==================================================
Buy 1 contract gold at 1257
Use a 1227 sell stop loss
==================================================
SILVER CURRENT WEBSITE TRADE
==================================================
Buy 1 contract silver at 16.80
Use a 16.02 sell stop loss.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Follow us on Twitter at @goldtrendsnet(no period)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Disclaimer
The analyst intends to portray his thoughts and ideas on the subject which may be used as a tool for the reader. GoldTrends does not accept responsibility for being incorrect in its speculations on market trend or key turning points that it may discuss since they are at best a calculated analysis based on historical price observations. Do your own diligence. This is not a recommendation for you to buy or sell any commodity or stock. The analyst is merely listing one of the trades for his own account and what you do with that information is entirely up to you. The analyst lists his trades as soon as possible but due to his style there are times he has bought or sold a position based on the PATTERNS that have been presented at the moment. On those occasions, be aware that you will receive information of a buy or sell point that analyst has ALREADY TAKEN FOR HIS OWN ACCOUNT. While that is not the intention, we want to make sure you know that it does happen. We are not brokers---we are traders. We DO provide trade orders we have PLACED as soon as we decide, but due to style there will be times we have already entered or exited and we make you aware of that in each update.
{Contact_First_Name} {Contact_Last_Name},
A Signal Trade Update on GoldTrends.Net
Gold has reached the 1st ODDS favored target low point for the week (1266-1272) with a 1271.96 spot gold print. Right now I have the buy point at 1257 as that is the 2nd ODDS favored target low point for the week and possibly the move down on this current short term cycle which is due to bottom Feb 3rd (plus or minus 72 hours). That means the "window" for a low on cycles doesn't open until the close of Thursday trade. That is why I have my current order near that 2nd target near 1256 as the odds favor the TURN is not until after Thursday.
What is very important is that the 1272 weekly reversal point is still being respected as a most important point. It was last weeks low and it is now this weeks low. Thus is is not out of the question that we made the low today. The "cycles" and "window" we use for a standard deviation has most points (85%) inside that window. But as all standard deviation measurements, there will always be data points that are outliers outside the standard deviation. There is no escaping this as there will always be "SOME" early and late cycle turns (about 15%).
From a channel perspective, yesterday and today's low so far has hit the mid-line channel. That 1256 area is at the lower channel line. The upper channel line is resistance if gold is still in its down pattern. That should be 1288-1292. If we're still following the channel, then 1288-1292 should be resistance on Tuesday. If that is the case, then the potential to pullback to 1256 will still be a potential. With the FOMC and Options expiration on Wednesday, we might get a spike down there.
In summary, we've reached the 1st place where gold can turn this week and even the low for the cycle (which would be early). This is because 1272 is so important as a reversal price. If the cycle does play out then we have one more push down before the low. Watch 1288-1292 as the first key resistance that gold needs to hold to still be in the down-trend channel. If we close above 1295 then it is possible that the low is in place and higher prices are coming. I wish i could narrow it down to one target, but it is impossible to "black box" a market that deep. The two targets are the best we can offer as to this weeks low. Even then, it is always a series of ODDS (and not absolutes). There are no absolutes. I'll keep watching, but the bottom line, those who are looking for a trade to long gold have these two as the best potential this week. I'll leave my buy at the lower target in lieu that the odds favor the cycle turn is not complete yet. The bottom line is that we reached one of the two most likely low points for this pullback. If gold is super strong, then 1266-1272 will hold. If it's just strong, then a retrace to 1256 can develop. The chart shows the two most likely points.
==================================================
GOLD CURRENT WEBSITE TRADE
==================================================
Buy 1 contract gold at 1257
Use a 1227 sell stop loss
==================================================
SILVER CURRENT WEBSITE TRADE
==================================================
Buy 1 contract silver at 16.80
Use a 16.02 sell stop loss.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Follow us on Twitter at @goldtrendsnet(no period)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Disclaimer
The analyst intends to portray his thoughts and ideas on the subject which may be used as a tool for the reader. GoldTrends does not accept responsibility for being incorrect in its speculations on market trend or key turning points that it may discuss since they are at best a calculated analysis based on historical price observations. Do your own diligence. This is not a recommendation for you to buy or sell any commodity or stock. The analyst is merely listing one of the trades for his own account and what you do with that information is entirely up to you. The analyst lists his trades as soon as possible but due to his style there are times he has bought or sold a position based on the PATTERNS that have been presented at the moment. On those occasions, be aware that you will receive information of a buy or sell point that analyst has ALREADY TAKEN FOR HIS OWN ACCOUNT. While that is not the intention, we want to make sure you know that it does happen. We are not brokers---we are traders. We DO provide trade orders we have PLACED as soon as we decide, but due to style there will be times we have already entered or exited and we make you aware of that in each update.
{Contact_First_Name} {Contact_Last_Name},
A Signal Trade Update on GoldTrends.Net
Gold has reached the 1st ODDS favored target low point for the week (1266-1272) with a 1271.96 spot gold print. Right now I have the buy point at 1257 as that is the 2nd ODDS favored target low point for the week and possibly the move down on this current short term cycle which is due to bottom Feb 3rd (plus or minus 72 hours). That means the "window" for a low on cycles doesn't open until the close of Thursday trade. That is why I have my current order near that 2nd target near 1256 as the odds favor the TURN is not until after Thursday.
What is very important is that the 1272 weekly reversal point is still being respected as a most important point. It was last weeks low and it is now this weeks low. Thus is is not out of the question that we made the low today. The "cycles" and "window" we use for a standard deviation has most points (85%) inside that window. But as all standard deviation measurements, there will always be data points that are outliers outside the standard deviation. There is no escaping this as there will always be "SOME" early and late cycle turns (about 15%).
From a channel perspective, yesterday and today's low so far has hit the mid-line channel. That 1256 area is at the lower channel line. The upper channel line is resistance if gold is still in its down pattern. That should be 1288-1292. If we're still following the channel, then 1288-1292 should be resistance on Tuesday. If that is the case, then the potential to pullback to 1256 will still be a potential. With the FOMC and Options expiration on Wednesday, we might get a spike down there.
In summary, we've reached the 1st place where gold can turn this week and even the low for the cycle (which would be early). This is because 1272 is so important as a reversal price. If the cycle does play out then we have one more push down before the low. Watch 1288-1292 as the first key resistance that gold needs to hold to still be in the down-trend channel. If we close above 1295 then it is possible that the low is in place and higher prices are coming. I wish i could narrow it down to one target, but it is impossible to "black box" a market that deep. The two targets are the best we can offer as to this weeks low. Even then, it is always a series of ODDS (and not absolutes). There are no absolutes. I'll keep watching, but the bottom line, those who are looking for a trade to long gold have these two as the best potential this week. I'll leave my buy at the lower target in lieu that the odds favor the cycle turn is not complete yet. The bottom line is that we reached one of the two most likely low points for this pullback. If gold is super strong, then 1266-1272 will hold. If it's just strong, then a retrace to 1256 can develop. The chart shows the two most likely points.
==================================================
GOLD CURRENT WEBSITE TRADE
==================================================
Buy 1 contract gold at 1257
Use a 1227 sell stop loss
==================================================
SILVER CURRENT WEBSITE TRADE
==================================================
Buy 1 contract silver at 16.80
Use a 16.02 sell stop loss.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Follow us on Twitter at @goldtrendsnet(no period)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Disclaimer
The analyst intends to portray his thoughts and ideas on the subject which may be used as a tool for the reader. GoldTrends does not accept responsibility for being incorrect in its speculations on market trend or key turning points that it may discuss since they are at best a calculated analysis based on historical price observations. Do your own diligence. This is not a recommendation for you to buy or sell any commodity or stock. The analyst is merely listing one of the trades for his own account and what you do with that information is entirely up to you. The analyst lists his trades as soon as possible but due to his style there are times he has bought or sold a position based on the PATTERNS that have been presented at the moment. On those occasions, be aware that you will receive information of a buy or sell point that analyst has ALREADY TAKEN FOR HIS OWN ACCOUNT. While that is not the intention, we want to make sure you know that it does happen. We are not brokers---we are traders. We DO provide trade orders we have PLACED as soon as we decide, but due to style there will be times we have already entered or exited and we make you aware of that in each update.
The "cycles" and "window" we use for a standard deviation has most points (85%) inside that window. But as all standard deviation measurements, there will always be data points that are outliers outside the standard deviation. There is no escaping this as there will always be "SOME" early and late cycle turns (about 15%).
The "cycles" and "window" we use for a standard deviation has most points (85%) inside that window. But as all standard deviation measurements, there will always be data points that are outliers outside the standard deviation. There is no escaping this as there will always be "SOME" early and late cycle turns (about 15%).
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