9 Minute Read

Some People Say, “all that Glitters is not Gold” Because it’s Clearly Black & Blue!

February 28, 2015

By | 7 Comments

Gold&White_or_Black&Blue

What is this world coming to?  Can it be that what I call gold & white you think is black & blue?

While our media was busy talking about the color of a tacky dress, Matt cast the characters for a movie about the Federal Reserve and I have now officially decided that from now on when I trade Gold I will tweak my chart settings to gold and when I trade Silver I will tweak my chart settings to silver and when I trade Oil I’ll tweak those chart settings to black… and all other charts should be the color of money.

I like to set the mood and get into the right mindset when I am trading.

I clearly have too much time on my hands and so does Liam Neeson.

Liam

But seriously folks, this GOLD chart has a great kiss goodbye setup and a dead sexy long legged doji right in that $80 support/resistance zone… If the pattern setup holds true, GOLD could actually turn blue and quite possibly black and blue for the bulls with my projected targets down between $72.50 & $70.00

Short_GOLD

A reasonable trade plan would be:

Trigger Order #1 Sell Stop Limit @ $79.89/$79.80
OCO Target Order #2 Buy Limit @ $72.50
OCO Stop Loss Order #3 Buy Stop Market or Buy Stop Limit @ $80.31/$80.40 or a +$2.15 Trailing Stop

Entire Trade contingent on the U.S. dollar index breaking out above the high base resistance.
The Dollar Index Chart DX #F with dollar bill themed chart settings make this breakout setup MONEY! also checkout the bullish ETF for the U.S. Dollar ticker symbol UUP.

Dollar_Chart

Don’t miss out on the opportunity to cash in on these setups and always remember to dress for success, which when it comes to trading attire can leave much to be desired. Always remember to change out of your pajamas before you leave the house, lest ye wind up on the websites dedicated to shaming the people who shop at walmart. Which BTW appears to have a head and shoulder’s setup and could be poised for a breakdown… and I can’t be sure, but I think that you can also buy dresses made in china at walmart that change colors too and will magically change the color of every other article of clothing that gets thrown into the washing machine with them.

wmt_h&s

Price of the dress $250
Price of the visit to the eye doctor $150
Price of the visit to the psychiatrist to verify your sanity $100

Being able to turn internet gold into real gold on tackle trading… PRICELESS!!!

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7 Replies to “Some People Say, “all that Glitters is not Gold” Because it’s Clearly Black & Blue!”

  1. Jack Teoh says:

    you just crack me up with the fashion of color. LMAO

  2. Coach D says:

    You’ll laugh all the way to the bank Jack… Check out the trade setup on that chart! It’s a all dressed up with no place to go but down! I updated the post to include the trade plan.

  3. ken says:

    Coach D knows what’s up! Ok, in all honesty coach D do you see blue and black, or white and gold? I see white and gold but most of my friends keep seeing blue and black!

  4. Carlos Quintana says:

    Love the S&H Setup . Here is my play BUY +2 VERTICAL WMT 100 APR 15 85/70 PUT @2.56 LMT

  5. Mack Grout says:

    Question – on your GOLD chart the entry trigger is above Friday’s close, market closed at 79.19 but your entry trigger is 79.89/79.80. On your chart you made the green line is below, leading me to think that the entry trigger is supposed to be on a confirmation candle. Is this just a typo?

  6. Matt Justice says:

    such a great blog post

  7. Jack Teoh says:

    I did see that the entry listed for GOLD is above the close. I created April 77.50 put entry below 20 Exponential moving average (EMA).

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