While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
Gold…has put in a potential bottom based off the qtrly charts by retesting 1180, our long time downside tgt.
Silver…has NOT done the same swing, but with today’s puke by the Longs before year end, silver has retested last qtr’s low of 18.68.
AUD/USD…has a potential ORH weekly pattern with sustained price action over 89.65. (89.15 Futures)
This is worth keeping on your radar for a possible low.
ABX & SLW show similar patterns.
I’ll let the price action dictate the trade. In other words I’m not leading off on a trade either way!
Below 1180 in the Gold it’s “hasta la vista” time.
Gold still needs closes over 1220 for any upside.
All these instruments are starting to align.
They will either all fail or hold.
This game will start to be played out Thursday into Friday.
For Glossary of terms and abbreviations click here.