The VC Price Momentum Indicator
Gold Weekly Futures Swing Trading Instructions
Oct 27, 2017
Signals are automatically generated by integrating electronic weekly statistics with proprietary algorithms.
WEEKLY SUMMARY
TREND MOMENTUM: 1302 Bearish
PRICE MOMENTUM: 1274 Bearish
PRICE INDICATOR:
EXIT LONGS:
2 ) 1295
1) 1283
EXIT SHORTS:
1262
1253
WEEKLY TREND MOMENTUM
The gold futures contract closed at 1272. The market closing below the 9 day SMA 1302 is confirmation that the weekly trend momentum is bearish. A close above the 9 SMA would negate the weekly bearish short-term trend to neutral.
WEEKLY PRICE MOMENTUM
With the market closing below the VC Weekly Price Momentum Indicator of 1274, is confirmation that the price momentum is bearish. A close above the VC Weekly, it would trigger weekly stops and negate the bearish signal to neutral.
WEEKLY PRICE INDICATOR
Look to take profits on shorts into corrections at the Buy 1 and 2 levels of 1262 - 1253, and go long on a weekly reversal stop. If long, use the 1253 level as a Stop Close Only and Good Till Cancelled order. Look to take profits on longs as we reach the Sell 1 and 2 levels of 1283 - 1295 during the week.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed herein constitutes a solicitation of the purchase or sale of any futures or options contracts. This report is for educational purposes only.