Gold, coming off a tad from session highs above 1190,
currently trading @ appx 1185, closed these out @ appx 1190 -so we hit 1000 pips; Usually what I strive to catch 10 and 20 $ moves or 500 pip scalps.
Likely, looking to buy again after a little watching. Euro continues to print fresh yearly lows, cable getting crushed. Swissy finally breaks 1.09
sigh @ silver dragging gold down again
looks like a repeat of last week. ill be looking to buy some gold next week when silver stops going down
DOW, S&P, Commodities IE: Gold / Metals & Oil taking a hit this morning
Currently DOW down 242.75
Certain profit taking on Gold this AM after the 1190 hit.
Fear evident in market sentiments today
Obama discussing financials live also helps PLUNGE MARKETS LOL!!!!
Rumors of Spain needing bailout $$ - Euro / Germany still needs to make decision on Euro aid for Greece. This is the main FEAR factor,
Yeah silver took a whack this am.
Watching to see if Euro breaks .30
Looking for entry on Gold, things a bit volatile still.
May get back in above 1175. This will not last.
I'm looking to get my stop to B/E ASAP
Yes, Agree with that one (stop to BE).. I am with you on this Took entry as well @ 1175.
London closed now If nothing else I am expecting at least 1180 to 1185
Need to go out for a bit and may add trailing stop as well
Speaking of craziness - someone I follow on Twitter just linked this:
Brief commentary quote
All and all, we are still inside the upside channel,
coming up on some supports and MA support.
These selloffs have become somewhat typical after steep upmoves,
usually triggered on fundies and profit taking. & General market movements. DOW getting Killed today.
OH and FEAR!
Working on chart
The attendees of the 300,000 US dollar a person gold conference knew this in advance. IMO.
I've been following the Commodities and Stocks forum for a while and I'd like to thank you all (esp. Xtrade) for your inspiring posts. For a newbie like me, it's really great to see other data, strategies and fresh news.
Concerning this move down, I think we should stay above 1165 in order to continue attacking 1200. However, with NFP, european debt issues and cartel reacting to getting closer to highs, we will have some stormy waves to ride on..
Steroidman, this not at all a gold crash. You haven't seen anything yet...If Europe's problems continue, China revalues and the US sits on a pile of notes...the world may have to reconsider gold's role in the whole global system.. It is the only real value, and it must be put on its rightful place..
We just hit 1190, (this AM) now there is a dip on market FEAR.
$14 dip is Not much of a crash!
You are welcome, Glad to see you enjoy the thread. Yes I agree with your sentiments. Looks like things are slowed a bit now and about to turn up
Iiiiit's crazy week!
There is like 0 chance silver goes up in the next few days but I dont have the balls to short it lol
Still short, although we could see a dead cat.
Yeah, Yeah, Just the same as gold has been the LONG trade (1090) from 1110 thru 1145 thru 1190 now there is a short opp.
That's the market for ya!
My outlooks have been posted on every #Group of this thread. But I will retrieve them and put into post with my next long..
WHAT we have right now on H! is one side. -- actually the "bearish" side of a forming Cup & Handle.
This will mean,
Sideways with Accumulation,
Breakout, --- Likely Hitting more new highs ---
New support established,
I will be looking to watch about another 15 minutes more then scooping longs.
The CUP will have a bottom. It is getting placed now @ 1165.
Should we break that the next Solid support is 1145 and Gold is not dropping
another 20 Bucks on EURO markets with..etc.....etc.....Greece......Spain.....credit.........portugal......
Would be looking @ potential OIL / WTI and Brent Crude longs as well ATM
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