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Gold Discussion

  • #281
  • Jul 1, 2008 3:47pm Jul 1, 2008 3:47pm
I prefer to watch gold on a daily basis using the Amex gold index HUI as a trigger. And so when I draw S/R I bracket it (i.e. resistance) swing high and that bars close or the following days high, whichever is greater and (i.e. support) swing low and that bars close or the following days low, whichever is lesser.

On my chart, the points with the asterisks all have long wicks which show trading into this zone in the past and met resistance so...... I sort of agree with the original post. At least by looking at $HUI.
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  • #282
  • Jul 2, 2008 12:37pm Jul 2, 2008 12:37pm
I'm thinking GOLD longer term going to 2-3K and buying will accelerate when the EURO begins to drop... I also think SILVER is going to out run GOLD...

I believe the dollar protection team is pulling strings for the USD, but this will most likely crash and longer term I see the USD going to ZERO!!
Check Mate GAME OVER
  • #283
  • Jul 2, 2008 1:20pm Jul 2, 2008 1:20pm
Quoting bunton
I'm thinking GOLD longer term going to 2-3K and buying will accelerate when the EURO begins to drop... I also think SILVER is going to out run GOLD...

I believe the dollar protection team is pulling strings for the USD, but this will most likely crash and longer term I see the USD going to ZERO!!
So the euro is going to drop but at the same time the dollar is going to zero.
  • #284
  • Jul 14, 2008 2:03pm Jul 14, 2008 2:03pm
Lets discuss on Gold aswell,,,

Who is trading in GOLD?

What do u thing Gold will goback to 920 - 930 range this week?
  • #285
  • Jul 16, 2008 10:00am Jul 16, 2008 10:00am
a food for thought.

I'm using a price distribution analysis, a statistical method that my mentor kang gun teach me ...


hope it helps'
anggara
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  • #286
  • Jul 16, 2008 11:27am Jul 16, 2008 11:27am
Down
Trade what you see, not what you think.
  • #287
  • Jul 16, 2008 5:32pm Jul 16, 2008 5:32pm
Personally, I would put Gold in an ~ $950 Buy Range for the Push to 4 figures. Although I agree with Karmo, it looks like some Profit Taking is immediately ahead... So

Buy on a Dip to ~$945 and a resurgent break above $950.00

*Note* Watch for clues around $952 as to whether patience will reward you.

My thoughts but Your Money. Think about it.
  • #288
  • Jul 18, 2008 9:07pm Jul 18, 2008 9:07pm
Looks like a good time to buy. I closed all my short positions. Looks like a good entry point in the $950 range. I think we'll see new highs by this years end. What do you think?
  • #289
  • Jul 20, 2008 9:26am Jul 20, 2008 9:26am
this is a weekly chart, does it tell you anything?
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Fay All Time Return: -98.7%
  • #290
  • Jul 20, 2008 9:29am Jul 20, 2008 9:29am
Quoting Seaward22
Looks like a good time to buy. I closed all my short positions. Looks like a good entry point in the $950 range. I think we'll see new highs by this years end. What do you think?

if oil price stay here i don`t think so...
  • #291
  • Jul 20, 2008 10:15am Jul 20, 2008 10:15am
When everybody and their mother is trading in gold, then it's time to realize that we might have a bubble in commodities... how long it will last is always hard to say, but if it is a bubble, it won't take long to unwind.
nav++
  • #292
  • Jul 23, 2008 11:50pm Jul 23, 2008 11:50pm
Gold is now in the $920's. I'm in a buy in the $960's and $940's. Guess it could go low as $800. But with inflation levels at record high's, Gold is $100 under its record highs. You think inflation is over? Too many buyers in gold regardless?
  • #293
  • Jul 23, 2008 11:53pm Jul 23, 2008 11:53pm
Quoting fayz0r
this is a weekly chart, does it tell you anything?
That's quite a long term graph. By your graph, for a day trader how high do you think it can go before it drops down to the $849 range?
  • #294
  • Jul 24, 2008 12:57am Jul 24, 2008 12:57am
Quoting gvroom
When everybody and their mother is trading in gold, then it's time to realize that we might have a bubble in commodities... how long it will last is always hard to say, but if it is a bubble, it won't take long to unwind.
what a nice quote
  • #295
  • Jul 25, 2008 3:46pm Jul 25, 2008 3:46pm
With inflation exploding how can Gold go down?
  • #296
  • Jul 25, 2008 4:16pm Jul 25, 2008 4:16pm
Quoting Seaward22
That's quite a long term graph. By your graph, for a day trader how high do you think it can go before it drops down to the $849 range?
I'm a different person, but I honestly wouldn't think it will break the high of that bearish bar. After seeing this, I actually plan on shorting it. Thanks!
I dream, therefore I become.
  • #297
  • Jul 25, 2008 4:30pm Jul 25, 2008 4:30pm
Quoting Seaward22
Gold is now in the $920's. I'm in a buy in the $960's and $940's. Guess it could go low as $800. But with inflation levels at record high's, Gold is $100 under its record highs. You think inflation is over? Too many buyers in gold regardless?
Learn price action and the charts will show you everything you need to know man. Check out James16 chart thread in the systems area of FF and read through it. Learn what different bars entail and you'll be good to go! That bar is showing a solid short signal for me.
I dream, therefore I become.
  • #298
  • Jul 25, 2008 5:22pm Jul 25, 2008 5:22pm
I usually have a pretty good grip on the market. I didn't do a long term chart prep on this one. Thought momentum would take Gold through $1,000. Inflation is high and will get higher. With a short how long would you stay in?
  • #299
  • Jul 25, 2008 5:22pm Jul 25, 2008 5:22pm
Quoting mike w
Learn price action and the charts will show you everything you need to know man. Check out James16 chart thread in the systems area of FF and read through it. Learn what different bars entail and you'll be good to go! That bar is showing a solid short signal for me.
Appreciate it. I'll take a look at James16 chart thread.
  • #300
  • Jul 26, 2008 2:08pm Jul 26, 2008 2:08pm
How many times are they going to move this thread? Who moves threads? I think this is the 3rd or 4th time moved.
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