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Only Gold!

  • #22,861
  • Edited 1:11am Feb 16, 2015 12:59am | Edited 1:11am
Quoting ClockTrader
{quote} They've been hitting sellers in the 1230-40 range resulting in spikes & jittery PA above 1230 lately. IF price appears descending from 1130-40 area around NY morning, I would take that as a clue of bearish patterns ahead. On the contrary note, IF price can sustain comfortably above 1235-40 range for a few days ahead which is least likely IMO, that could be an early sign we got bottom in place, until Feb-Expiry at least. Seasonal View: Bearish Bearish with IFs & Buts for this week/day as said above.
ok as we sees price falling and there are strong tendency for a breakout at 1200 for 1167\50 remain intact & if even it not does so soon , breaks 1244.84 for a bull signal to test 1251\55 for next confirmation bull & next final confirmation 1274 towards previous top or new or those breakout levels . There are big ranges possible & so need follow market at an apparent low now too. failure directly at 1245 or 51 or 55 , yes directly follow through there .sellers & buyers are everywhere , if they success or not . and same with all if , buts & even ranges chances always remain at every place too.
Take care ,
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #22,862
  • Feb 16, 2015 1:27am Feb 16, 2015 1:27am
Quoting fontu
{quote} ok as we sees price falling and there are strong tendency for a breakout at 1200 for 1167\50 remain intact & if even it not does so soon , breaks 1244.84 for a bull signal to test 1251\55 for next confirmation bull & next final confirmation 1274 towards previous top or new or those breakout levels . There are big ranges possible & so need follow market at an apparent low now too. failure directly at 1245 or 51 or 55 , yes directly follow through there .sellers & buyers are everywhere , if they success or not . and same with all if , buts...

@1233
Price appears ascending right now.. we should have more transparency once trades from Euro session gain momentum.. Lets see how far this price climbs over the next few hrs..

I plan to take daily decision after this ascend stops or around late NY morning..
Hello World!
  • #22,863
  • Feb 16, 2015 1:55am Feb 16, 2015 1:55am
I think any trading on gold is kind of tricky as we are in the middle of nowhere and prices moving towards to previous consolidation zone.
Let s summarize it. As breakout below $1,230 caught short sellers attention and many stubborn shorties who still in hopping for lower prices holds, could be easily squeezed as prices breaks above $1,240.
For me is current situation on gold and easy pass on any trading as I seen no clear picture in long term and also short term picture
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  • #22,864
  • Feb 16, 2015 2:32am Feb 16, 2015 2:32am
Even if the ascending trend channel continue supporting the near-term up-move by the Gold prices, a break of $1241 becomes critical for the pair to rally towards $1278 levels. On the downside, $1230, $1212 and $1198 are likely important support levels.
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  • #22,865
  • Feb 16, 2015 4:30am Feb 16, 2015 4:30am
Quoting ClockTrader
{quote} They've been hitting sellers in the 1230-40 range resulting in spikes & jittery PA above 1230 lately. IF price appears descending from 1130-40 area around NY morning, I would take that as a clue of bearish patterns ahead. On the contrary note, IF price can sustain comfortably above 1235-40 range for a few days ahead which is least likely IMO, that could be an early sign we got bottom in place, until Feb-Expiry at least. Seasonal View: Bearish Bearish with IFs & Buts for this week/day as said above.
Repeat: They've been hitting sellers in the 1230-40 range resulting in spikes & jittery PA above 1230 lately

I see more & more Price depression coming in effect as it tries to climb.. more transparency by NY morning..
Hello World!
  • #22,866
  • Feb 16, 2015 4:36am Feb 16, 2015 4:36am
Quoting ClockTrader
{quote} Repeat: They've been hitting sellers in the 1230-40 range resulting in spikes & jittery PA above 1230 lately I see more & more Price depression coming in effect as it tries to climb.. more transparency by NY morning..
I don't feel confortable taking any trades where we are right now.

I'm tempted to short, but better wait for a move higher first.

On a weekly basis, its possible we head back to the previous top around 1300 though.
COT: The precious data ignored
  • #22,867
  • Feb 16, 2015 4:47am Feb 16, 2015 4:47am
Quoting kuroro001
{quote} I don't feel confortable taking any trades where we are right now. I'm tempted to short, but better wait for a move higher first. On a weekly basis, its possible we head back to the previous top around 1300 though.
How about a paper trade ( a dummy one to test)?

Sell @ 1233-34 with SL @ 1237

Pretty tight, isn't it?
Hello World!
  • #22,868
  • Feb 16, 2015 4:51am Feb 16, 2015 4:51am
Quoting ClockTrader
{quote} Repeat: They've been hitting sellers in the 1230-40 range resulting in spikes & jittery PA above 1230 lately I see more & more Price depression coming in effect as it tries to climb.. more transparency by NY morning..
Today is US holiday... I think no transparency will be evident even in NY morning....

Last Friday forget to check that Monday is holiday.
Because normally when the Monday is holiday, the friday is up, especially since Gold has been making good money for short sellers (so they may profit take resulting in up move) The more buyers we see from kinspk's posted chart last friday tell of no information with regard to whether the buyer is taking new position or are buying to close his short position.
  • #22,869
  • Feb 16, 2015 4:55am Feb 16, 2015 4:55am
Quoting andySu
{quote} Today is US holiday... I think no transparency will be evident even in NY morning.... Last Friday forget to check that Monday is holiday. Because normally when the Monday is holiday, the friday is up, especially since Gold has been making good money for short sellers (so they may profit take resulting in up move) The more buyers we see from kinspk's posted chart last friday tell of no information with regard to whether the buyer is taking new position or are buying to close his short position.
Nevertheless, I'll wait for NY morning before I can share my final & clear view for today & ahead..
Hello World!
  • #22,870
  • Feb 16, 2015 4:57am Feb 16, 2015 4:57am
Quoting ClockTrader
{quote} How about a paper trade ( a dummy one to test)? Sell @ 1233-34 with SL @ 1237 Pretty tight, isn't it?
I thought about it too...shorting this area with a 5 dollars stop.

Anyway i mostly use 5 dollars stops. I rarely do more than that, its getting too expansive if more.

But when unsure, stay away
COT: The precious data ignored
  • #22,871
  • Feb 16, 2015 9:30am Feb 16, 2015 9:30am
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Ro IMRAN Ro
  • #22,872
  • Feb 16, 2015 10:07am Feb 16, 2015 10:07am
Today's PA should be taken with a grain of salt since much of the U.S. (President's Day) are away from their trading screen.
  • #22,873
  • Feb 16, 2015 10:14am Feb 16, 2015 10:14am
Quoting andySu
{quote} Today is US holiday... I think no transparency will be evident even in NY morning.... Last Friday forget to check that Monday is holiday. Because normally when the Monday is holiday, the friday is up, especially since Gold has been making good money for short sellers (so they may profit take resulting in up move) The more buyers we see from kinspk's posted chart last friday tell of no information with regard to whether the buyer is taking new position or are buying to close his short position.

Bro, hope this clear your doubts.
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The only winner is the one who survive the longest...
  • #22,874
  • Feb 16, 2015 7:01pm Feb 16, 2015 7:01pm
PA looks active & desperate to hit that SL.. (paper trade), nevertheless, price should remain under depression.. & this should not climb higher than 1235-40 range..

would confirm on the basis of key hrs in a few hrs..
Hello World!
  • #22,875
  • Feb 16, 2015 7:41pm Feb 16, 2015 7:41pm
Volume tonight is less than last night. And volatility less as well. As expected following a U S holiday.

Nothing special till Europe and then US open in the morning IMO.
  • #22,876
  • Feb 16, 2015 7:56pm Feb 16, 2015 7:56pm
Quoting ClockTrader
PA looks active & desperate to hit that SL.. (paper trade), nevertheless, price should remain under depression.. & this should not climb higher than 1235-40 range.. would confirm on the basis of key hrs in a few hrs..
Bull attempts have continued to fail.. fall through 1229 would confirm bearish patterns ahead.
Hello World!
  • #22,877
  • Feb 16, 2015 9:08pm Feb 16, 2015 9:08pm
Quoting ClockTrader
{quote} How about a paper trade ( a dummy one to test)? Sell @ 1233-34 with SL @ 1237 Pretty tight, isn't it?
@ 1228

I'll close this now.. kinda scalp.. swings look tricky..
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  • #22,878
  • Feb 16, 2015 9:31pm Feb 16, 2015 9:31pm
Probably see 1220 or lower within 24h
  • #22,879
  • Feb 16, 2015 10:06pm Feb 16, 2015 10:06pm
Quoting Ck87
Probably see 1220 or lower within 24h
On a broad level I'm inclined towards bearish.. seasonal sentiment is bearish too.. However intraday/swings can be tricky.. won't play if I'm not confident.. IF scalps are green & good.. grab & move on..
Hello World!
  • #22,880
  • Feb 16, 2015 10:09pm Feb 16, 2015 10:09pm
Key Support @ 1227 SMA(303) on M15.. IF price falls below here further.. this could go way down.. bounce would validate this SMA..
Hello World!
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