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Commodity Trading Discussion Forum

Gold with the 34ema/50ema Cross Overs *PIC*

Posted By: Trades
Date: Friday, 3 July 2009, at 12:30 p.m.

And like the S&P even a volatile market like Gold that loves to trash trendlines and disrespect price support and resistance seems to respect this 34ema/50ema cross over signal. The reason it does is that being 34 and 50 days apart and requiring a cross it can absorb a lot of volatile up and down price movement as Gold tries to shake off bulls and bears alike just like a bucking bronco. This combo had a bullish cross over in Sept/07 at $675 and the only questionable period since then has been between May/08 and July/08. Other than that choppy sideways period price has rising when the cross over was positive and fell when the cross over was negative with no false cross overs. Again always watch how far away price is stretched out from its 50ema (mama) as a guide to risk exposure. A simple trendline used then can protect profits and one can re-enter on a price return to the 50ema in the same direction again.(why ride it all the way back) Also presently the 34ema is getting close to the 50ema again with price below the 34ema. While no sell signal has been given with a bearish cross as yet it is something to watch. One can always tighten stops if long at touching points just in case and re-enter if the 50 is just tagged with the 34 and turns back up.

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