Comments on: GLD & GDX Appear Poised to Rally

By: rsotc

rsotc — Wed, 23 Dec 2015 17:08:00 +0000

@jaycaries- On stockcharts.com, I add a MACD histogram to my chart (just the histogram, not the MACD which shows the two lines). Then I change the signal line (the last of the 3 settings such as the 9 in the common 12,26,9 MACD setting) to zero and change the first two numbers to whatever ema pair that I want to show a histogram on. e.g.- A MACD histogram setting of 13,33,0 will replicate that 13/33ema histogram that I commonly use on my 60-minute charts. Try that on TOS & even better, just remove the 9-ema signal line if they let you but again, setting it to zero will accomplish the same thing. Some charting platforms that I use will not allow me to remove the signal line or set it below a value of 1.

By: jaycaries

jaycaries — Wed, 23 Dec 2015 16:28:40 +0000

Thanks Randy, I use TD ThinkorSwim chart, it doesnt allow me to customize MACD like you have shown in the video. Will try out TC2000/stockcharts.

By: rsotc

rsotc — Mon, 21 Dec 2015 16:09:52 +0000

@jaycaries – That is a custom histogram of the 13 & 33-ema pair which I created on the TC2000 charting platform. It gives a quick visual reference of whether the 13ema is trading above (bullish) or below (bearish) the 33-ema and I also find it useful in using divergences on the histogram to help identify likely trend changes in the underlying security. I use different pairs of moving averages on various time frame & securities. Here’ a video that I made a while back showing how to configure these custom histograms: https://www.youtube.com/watch?v=ax6OJ20mmiM . I’ve also been able to replicate them on stockcharts.com. Let me know if you have any questions.

By: jaycaries

jaycaries — Sat, 19 Dec 2015 17:02:24 +0000

Hi Randy, I have been following your blog since few days & found your charts really useful. Can you please tell me the third indicator you are using? (Chart just says the length 13-33). Thanks!

By: GM

GM — Sat, 19 Dec 2015 12:11:02 +0000

Thanks for these thoughts Randy.
I’m no charting expert (especially short-term), but this post of mine might be of use in identifying some long-term trend lines that should support prices in the near future:
http://screwtapefiles.blogspot.co.uk/2015/12/nearly-there.html

By: rsotc

rsotc — Sat, 19 Dec 2015 04:30:35 +0000

Thanks for sharing Bluemagic. I can still see a decent probability of gold moving about 3-7% lower to a major support zone + key Fib support that I’ve been highlighting on the longer-term (weekly) charts for a while. Just looking for another counter-trend bounce right now although always open to the fact that the bear market is gold is likely to end when very few expect it. Again, thanks for sharing the commentary & FYI, the 2nd link that you posted from tradingview opens to a $INDU (Dow Industrials) chart, not DUST.

By: bluemagic

bluemagic — Sat, 19 Dec 2015 01:50:37 +0000

Hi thanks for sharing your ideas and information. I’d also like to share with you about the advice of Martin Armstrong about gold:

http://www.armstrongeconomics.com/archives/40648: “YOU CANNOT BUY IT NOW. Please wait until 2016.”

I see DUST has formed a neat descending triangle in the monthly chart, which agrees with Armstrong’s advice. Happy holiday!
Bluemagic

https://www.tradingview.com/chart/qYRJF26p/