Hubert Senters here.
Had a question from a viewer. Nazar said Hubert you said Gold was getting ready to breakout?
What is the timeline you are looking at it? Great question. I still think Gold looks to the high side. I’m a technical trader. I’m not a fond of mineral trader so I trade charts and technicals more than anything.
So if I’m looking at the daily chart then it’s going to require anywhere from 3 days to 60 days in order for that to happen. I can’t tell when it’s going to breakout. On a daily chart it will usually happen in about 20 days plus or minus five or six days on that side of things.
When I’m doing these FREE videos I don’t usually do a lot of multi-time frame analysis because I try to keep them below a couple of minutes. But let me show you what I look for when I’m doing that. So in this situation right here you see the 60 minute sell signal here in Gold. If it sold off here on a 60 minute sell signal that is usually good for three to five days of movement lower which is what we’ve got.
We’ve got one day lower, two days lower. We probably have another day and maybe two days after that and then we’ll see if we can get back above a 60 minute buy signal. And if that happens I’ll have three to five days breakout to the high side. Now, if I’m looking at an Intra-day chart then obviously here, I’m going to give you completing the information.
I’m going to sound like a politician but I don’t mean to. But multiple time frames a lot of times will not sink up. You’re better off waiting for them all to sink up. And then there’s no confusion. So on a 10 minute signal today around 12 o’clock you had a long signal on Gold. And that a 10-minute long buy signal is usually good for four to five hours. And this one usually well, it’s noon. It lasted four hours a day so far.
If I’m looking at the daily chart and if it’s above the cloud what I’m looking for a breakout.
When I say that I’m doing FREE videos. If I get a breakout here I know there’s probably good for 20 days. Then what it’ll do is will pullback, touch the turning line, standard line or the cloud and then try to bounce out there. Right now, Gold’s ADX is a little low at $1,644 so you’re going to have to wait for an hourly buy signal.
I hope I didn’t confuse you. I was trying to answer you as detailed as possibly could. Mark Helweg is doing a FREE webinar on the ‘Simple Blue Dot-Red Trading Strategu for Stay-at-home Traders.’ If you’re getting smoked in this volatility you might need little help. Mark is my go-to-guy when it comes to programming with all of this stuff. He is way smarter than me.
He’s been able to take one of his award-winning Hedge Fund Strategy Systems and turn it into a very simple and easy to use indicator. Come to the webinar tonight Wednesday, May 27th at 8PM EST.He will walk you through it and see if he can help you.
Good luck. Hope it helps. See you on the next video.
Hubert.
