PHYS and PSLV Update – 31 Mar

As I anticipated yesterday, PHYS is today painting a green bar. I jumped yesterday and bought in at 12.54 with a stop at 12.41, just below the last swing low. Repeat after me Buy the Fucking Dip BTFD. On the Elder Impulse chart the green bar paints when both the MACD histogram bar and the 13 day exponential moving average are increasing day over day. Another way to say it is the slopes are positive for the magenta line and line connecting the most recent MACD histogram bars. It is telling us that momentum is increasing to the upside. The bar will remain green until one of the two indicators is decreasing, while the other is increasing. When both agree and are decreasing the bar will paint red. A green bar signals entry for long positions, a blue bar means exit any position. A red bar means entry for short positions. Red bars are ignored when the 65 day exponential moving average (blue line) is increasing and green bars are ignored when the 65 day EMA is decreasing.

PSLV is also painting a green bar. Again I entered on the blue bar yesterday anticipating a green bar today. My entry was at 17.30 with a stop just below 16.71, the last swing low.

Advertisements
This entry was posted in Elder Impulse System, Gold, Technical Analysis. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s