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  • #141
  • Jun 27, 2019 12:17am Jun 27, 2019 12:17am
Quoting Harry6
Right now I closed all my gold positions as Europe enters the night. XAU is dancing in the 1400-1410 support zone and either tonight or tomorrow should break through the 1425 roof or break the 1400 support and then again back to basics. As I can not walk with my positions, I prefer to start fresh tomorrow around 9am CET London open. Keep our fingers crossed.....
Wise move Harry. While the most recent downward selling pressure has persisted, it hasn't been much. I've been trying to take advantage of some of the selling, but it hasn't been very convincing. Here's what gold looks like since the open (highlighted area):
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I need to square my positions before the European traders get going. We may not see any major moves until the GDP report from the US.
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We must learn who is gold, and who is gold plated
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  • #142
  • Jun 27, 2019 1:58am Jun 27, 2019 1:58am
Quoting Ef5
{quote} Since Bullard turned it down, right now I'm thinking Kashkari's future looks bright.
Absolutely true! However for now the uber dove Kashkari is like a dog who cannot bite because he is a non-voter this year. He is however a voter in 2020.
  • #143
  • Edited 7:00am Jun 27, 2019 3:49am | Edited 7:00am
Quoting EventsTrader
{quote} Wise move Harry. While the most recent downward selling pressure has persisted, it hasn't been much. I've been trying to take advantage of some of the selling, but it hasn't been very convincing. Here's what gold looks like since the open (highlighted area): {image} I need to square my positions before the European traders get going. We may not see any major moves until the GDP report from the US. {image}
Hi E.T.

Right now I do touch gold ONLY 0.1lot in B. A short term channel between 1400 & 1405 has NOT been broken. Either up or down.

Again, wait and see.

I go in for full - between 1-3L around 830am EAST today - only IF XAU takes off in either direction. My greedy ego still prefers UP.

A sort of VIAGRA move: strong & solid upwards.....
A new consciousness for Humanity?
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  • #144
  • Jun 27, 2019 7:01am Jun 27, 2019 7:01am
right now.....................

I sit on my hands with "goldfingers" untill 230pm CET
A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #145
  • Edited 9:34am Jun 27, 2019 9:12am | Edited 9:34am
well a little bit later 4pm CET, the market tested 1400 bottom and now moves up... for good or another retest of 1400 between 5-9pm CET?

NOW.................l sit on my "goldfingers".

Nothing definite as yet
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A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #146
  • Jun 27, 2019 9:52am Jun 27, 2019 9:52am
Quoting Harry6
well a little bit later 4pm CET, the market tested 1400 bottom and now moves up... for good or another retest of 1400 between 5-9pm CET? NOW.................l sit on my "goldfingers". Nothing definite as yet {image} {image}
Harry what indicators are you using? I don't think my eyes could process them all but I may steal a few from you
  • #147
  • Jun 27, 2019 10:22am Jun 27, 2019 10:22am
RIGHT NOW it appears that buying is still active at yesterday's lows and right about the price currently shown below. While some selling is occurring, it appears to be more oriented to stop outs on short term longs. Of note there also appear to be some new shorts coming in. While I was short (WAY too early), I am seeing the price did eventually top out. Unfortunately my shorts are sloppy and not as "tight" as I like them to be. I have set some targets near December's (2018) high. If I see selling exhaustion or if some serious buying appears, I will reverse my position and take what ever loss I have. Not my best trade, but I am happy to see I"m not losing as much...oops!!
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  • #148
  • Jun 27, 2019 12:20pm Jun 27, 2019 12:20pm
Right now Gold is struggling to break past 1408. I'm cashing in if we can get to 1411 today.
If in doubt, paddle out!
  • #149
  • Jun 27, 2019 12:25pm Jun 27, 2019 12:25pm
Breakout real fart now?

or another fake-out fart?
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A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #150
  • Jun 27, 2019 5:56pm Jun 27, 2019 5:56pm
Similar to some other markets, gold also seem to be in a somewhat "stall".
One of the or main reason being is what will/might happen in a (next) week...
I believe we will have a much clearer picture by the end of next week that will confirm/reject the trend for the summer...
Some things were already addressed by big players, but they have to be confirmed or to be put more clear....
I would be careful at entering the position for this last day of the week, would much prefer to enter them in the beginning of next week, specially by the end of next week. And as always... should watch for the possible USD strength trend that might be the only negative component of the Gold right now, for the next 3 months.
Can you afford to take that chance?
  • #151
  • Jun 28, 2019 1:44am Jun 28, 2019 1:44am
It seems like we'll probably stay in this same range until we get some clarity on the G20.

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Lots of uncertainty going into the weekend. We might be looking at a big gap on Sunday so better get flat or hedge before the close.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #152
  • Jun 30, 2019 8:39am Jun 30, 2019 8:39am
For next week, be prudent and alert: daily pin bars -

consolidation and resume bull trend or fake-out and crash through 1400?
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A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #153
  • Jun 30, 2019 11:02pm Jun 30, 2019 11:02pm
Right now gold is trading below the psychological level of $1400 and is headed towards $1383, which if broken would lead to a sharp fall towards $1360 odd levels.
  • #154
  • Jul 1, 2019 1:08am Jul 1, 2019 1:08am
Right now gold is getting pummeled, but ES is closing in on 3,000!!!

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Self-sufficiency is the greatest of all wealth. - Epicurus
  • #155
  • Jul 1, 2019 2:43pm Jul 1, 2019 2:43pm
Quoting swagtrading
Right now gold is trading below the psychological level of $1400 and is headed towards $1383, which if broken would lead to a sharp fall towards $1360 odd levels.
Right now, wondering if Gold has bottomed today yet. Watching that $1,383 point. Getting close.
If in doubt, paddle out!
  • #156
  • Jul 1, 2019 6:49pm Jul 1, 2019 6:49pm
Gold is tough to get a handle on right now.

This breaking news just came out: U.S. proposes adding more tariffs to $4 billion of EU goods. After G20 negotiations failed to result in any significant improvements in US-China trade relations, the latest decline gold prices could be US dollar (inverse) related.

As long trade relations don't improve, money will continue to flow into safer assets, primarily gold. Gold may have more room to the downside, but fundamentally there's no reason to sell. I'm slightly favoring gold moving higher but will wait to see what happens overnight, particularly during the SHFE market session.
We must learn who is gold, and who is gold plated
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  • #157
  • Jul 1, 2019 9:50pm Jul 1, 2019 9:50pm
Right now I'm stuck sitting out of the gold market. I can't be confident about buying until gold is able to recover from the weekend gap but I can't sell because fundamentally I am still bullish on the yellow metal.

Oh well...
careful not to step in a pile of it
  • #158
  • Jul 1, 2019 9:58pm Jul 1, 2019 9:58pm
Quoting SurfsUp
{quote} Right now, wondering if Gold has bottomed today yet. Watching that $1,383 point. Getting close.
Right now I see gold possibly has bottomed out, and could now see some consolidation within 1383 and 1399. If 1383 breaks, then its bad news in short term.
  • #159
  • Jul 2, 2019 12:04am Jul 2, 2019 12:04am
Quoting bulltrap
Right now I'm stuck sitting out of the gold market. I can't be confident about buying until gold is able to recover from the weekend gap but I can't sell because fundamentally I am still bullish on the yellow metal. Oh well...
Right now, I'm with you on the sidelines. Gold is in the middle of the range so from a R:R perspective there's just no compelling trade unless you're scalping. If I had to do something now I might put on a short strangle since volatility is elevated, but nondirectional bias options strategies aren't really my thing.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #160
  • Jul 2, 2019 10:19am Jul 2, 2019 10:19am
I'm looking at this position right now and feeling a bit more at ease. While my execution on this was very sloppy to say the least, I find that RIGHT NOW, it appears that the premis proved correct.
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A look at the daily order flow still shows buying dominance and Monday's order flow showed an "inversion" from norms which could mean another run at this top. But, as I've been saying for some time now...for all this buying I'm still not seeing price respond in a way that I would expect it to...

Of particular note is the daily order flow that forms this top. (highest high). While there was solid buying at the base producing a move higher, the buying at the top was weak. Further, this buying (while "breaking out" of a 3 year range) caused price to fall back

A look at the extended weekly price chart shows:
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Price failed to break a 2013 high - this being the defining high that "established" the ranging market in gold. Of note also was that while last week's tick volume was the highest in 72 weeks, price action "failed" to sustain these levels. Interpretation: Buying is being absorbed.

On a bullish note however, this latest bull run starting in late Sept-2018, produced a bullish two wave higher low and higher high. It would be reasonable to anticipate a retrace down to form yet another higher low. And if so, I think I would have a bullish bias over the coming two years.
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