Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

Precious Metals on the Move

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Both Gold and Silver are on the move higher today, with some tailwinds from a considerably weaker USD, precipitated mainly by weaker than expected ECO Data from the ISM Non-Manufacturing Data, on the heels of a disappointing Jobs Report.

Let’s notice that Gold is approaching a test of its August resistance line, now in the vicinity of $1346/47, which if hurdled, should trigger upside continuation that tests the July resistance line, now in the vicinity of $1355. Meanwhile, relatively strong Silver continues to lead the charge near term, and points to a challenge of its July-August resistance line, at $20.30 next.

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Originally published at MPTrader.com. 

Advantage Bulls

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All charts used this morning were ones that I did at the weekend for the Trader’s Chart Service at theartofchart.net.

The NQ falling wedge that I identified on Wednesday last week defined the rest of the week, with the high on Wednesday night, the low on Thursday and the high on Thursday night, before the 70% bullish falling wedge broke up on NFP on Friday and retested the break on Friday afternoon. The obvious next target is a retest of the all time high, bolstered by the likely failure of the H&S on NQ and of the double top patterns on both ES and TF. NQ Sep 60min chart:

160903 NQ Sep 60min

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