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Gold RIGHT NOW

  • #181
  • Jul 3, 2019 1:18pm Jul 3, 2019 1:18pm
Quoting bulltrap
{quote} Looks like they might be continuation patterns?
I see the very hungry caterpillar.
If you have faith in our leaders of commerce, don't buy gold.
  • #182
  • Jul 3, 2019 2:44pm Jul 3, 2019 2:44pm
Right now Gold is a yawner. Been settled in a tight range for hours. I'm out at the moment with a completely "flat" day. I think it's time to get out and enjoy the holiday week. The shore is getting active! For all the Americans out there, have a fantastic 4th!
If in doubt, paddle out!
  • #183
  • Jul 3, 2019 2:59pm Jul 3, 2019 2:59pm
Quoting SurfsUp
Right now Gold is a yawner. Been settled in a tight range for hours. I'm out at the moment with a completely "flat" day. I think it's time to get out and enjoy the holiday week. The shore is getting active! For all the Americans out there, have a fantastic 4th!
It is not Gold's fault but the overall market stall... if you check the eurusd etc... there are waiting/speculating on both sides.. waiting for the famous RAT(E)S decision among other (un)stable things to clear out... I believe we will have much bigger movements next week and on.. for the summer.. but not super quick either..
This weeks is in particular slow due to this decisions gridlock... but it can not stay flat/stall for long.... just give it a week at most
Can you afford to take that chance?
  • #184
  • Jul 3, 2019 6:09pm Jul 3, 2019 6:09pm
Quoting DonPato
{quote} I see...but I'm unfamiliar with this "pattern" does it indicate a short (assuming it completes on week's end)? I am already short as explained above but am basing it entirely on order flow analysis...which kind of analysis is this? Can you explain?
It's one of those Harmonic Patterns once confirmed, likelyhood of bearish momentum is expected. Green pips to all. Cheers.
福 子 Victor V
  • #185
  • Jul 3, 2019 7:05pm Jul 3, 2019 7:05pm
I'm short Gold at 1418, looking for a quick ride to 1408. Analysis based on harmonic waves.
  • #186
  • Jul 3, 2019 7:11pm Jul 3, 2019 7:11pm
Oh no, I set off a wave of buyers.
  • #187
  • Jul 3, 2019 7:17pm Jul 3, 2019 7:17pm
Quoting Goat
I'm short Gold at 1418, looking for a quick ride to 1408. Analysis based on harmonic waves.
man i am not a pro trader but nowadays i feel gold does-not care of fundamentals or technicals it will do whatever it like....
Extreme gut feeling trader
  • #188
  • Jul 3, 2019 7:26pm Jul 3, 2019 7:26pm
Quoting montygoldy
{quote} man i am not a pro trader but nowadays i feel gold does-not care of fundamentals or technicals it will do whatever it like....
Yep it's as if there's some government buying going on. They don't care where they buy as long as they hit their schedules.

I'm going into goldbug-mode as soon as I win this current short.
  • #189
  • Jul 4, 2019 12:25am Jul 4, 2019 12:25am
Right now Im keeping a close eye on the situation in Hong Kong.

https://twitter.com/jkylebass/status...677137413?s=21

Apparently HIBOR is up 84bps tonight. Thats what a banking crisis looks like. Lots of tail risk, gold could catch a bid on this if the situation doesnt return to normal.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #190
  • Jul 4, 2019 2:18am Jul 4, 2019 2:18am
Quoting Ef5
Right now Im keeping a close eye on the situation in Hong Kong.
https://sg.news.yahoo.com/hong-kong-...053530333.html
"If The Fool persists in his Folly he will become wise." - William Blake
  • #191
  • Jul 4, 2019 11:05am Jul 4, 2019 11:05am
Quoting The Fool
{quote}https://sg.news.yahoo.com/hong-kong-...053530333.html
Nice find! It's hard to believe an IPO have that kind of impact on their money market. Can you imagine if the fed funds rate or libor rose by 84bps in a day?
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #192
  • Jul 4, 2019 11:52am Jul 4, 2019 11:52am
Quoting Goat
I'm short Gold at 1418, looking for a quick ride to 1408. Analysis based on harmonic waves.
I'm somehow still in this trade. My stop-target range is only $15, so volatility must be calming down. Probably due to the holiday.
  • #193
  • Jul 4, 2019 11:57am Jul 4, 2019 11:57am
Not much to say today...especially now that London has gone offline. Right now...gold is just sitting there. BUT:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 55 KB

It appears that any new longs have now been stopped out or just exited the market. Mild buying at the current prices are most likely retail traders hoping for a "pop" when Asia opens later today. But remember tomorrow is Friday...TGIF!!

Happy 4th everyone
@xxxx|[::::::::::::::::>
  • #194
  • Jul 4, 2019 11:57am Jul 4, 2019 11:57am
Quoting Ef5
Can you imagine if the fed funds rate or libor rose by 84bps in a day?
We'd be freakin out!
  • #195
  • Jul 4, 2019 4:17pm Jul 4, 2019 4:17pm
Well after this 4th of July... so on Friday.. I believe we might see a rather slow drop in GOLD, due to the USD buildup after this day off... either a drop and rebound or a drop that will stay that way till market close... Adn than small rebound on first market open.. but then the possible stronger USD might be the leading component of the summer trend.
Can you afford to take that chance?
  • #196
  • Jul 4, 2019 5:23pm Jul 4, 2019 5:23pm
Interesting thread!
Subscribed
  • #197
  • Jul 4, 2019 5:30pm Jul 4, 2019 5:30pm
Quoting Mtinifx
Interesting thread! Subscribed
Welcome
careful not to step in a pile of it
  • #198
  • Jul 4, 2019 5:46pm Jul 4, 2019 5:46pm
Quoting Mtinifx
Interesting thread! Subscribed
Glad to have you with us!
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #199
  • Jul 4, 2019 8:54pm Jul 4, 2019 8:54pm
Quoting Mtinifx
Interesting thread! Subscribed
Please chime in when you have something you'd like to bring up.
@xxxx|[::::::::::::::::>
  • #200
  • Jul 4, 2019 9:07pm Jul 4, 2019 9:07pm
Quoting Mtinifx
Interesting thread! Subscribed
Welcome Mtinifx. There are quite a few threads that might interest you. This thread is unique in that we discuss gold in terms of what's going on right now.

With the US holiday and NFP pending, right now gold is not offering up any opportunities to enter a position. Even if you do get in, don't get stuck through NFP. I posted what that might look like here.
We must learn who is gold, and who is gold plated
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