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  • #741
  • Sep 10, 2019 4:08pm Sep 10, 2019 4:08pm
Quoting Not-KPMG
{quote}< Mad Trumpy, ECB, BREXIT, jobs.... I'd not short. Just my 2 grams
I've been very bullish on gold because of all the uncertainty around the world. Even if US-China trade relations improve, there is still the global slowdown, Brexit, Iran drama, etc. That's why yesterday I was surprised when it broke down the way it did. I think it's probably more of a short term correction rather than a trend reversal. Gold is supported by a lot of fundamentals right now.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #742
  • Sep 10, 2019 4:21pm Sep 10, 2019 4:21pm
Quoting malcolmb14
{quote} Gold barely moved and you made 30 percent ? gold is a crazy bitch and can have nasty whipsaw even if you are on right side of trade ...I suggest reduce your risk before you blow your account
and here we are again
people leave, but this thread will go on for ever
  • #743
  • Sep 10, 2019 5:50pm Sep 10, 2019 5:50pm
Quoting EventsTrader
{quote} I've been very bullish on gold because of all the uncertainty around the world. Even if US-China trade relations improve, there is still the global slowdown, Brexit, Iran drama, etc. That's why yesterday I was surprised when it broke down the way it did. I think it's probably more of a short term correction rather than a trend reversal. Gold is supported by a lot of fundamentals right now.
agrre with you 100 percent . If you look at pure fundamentals then gold should be safe haven

however the charts show a potential correction on the weekly . 1480 is next support but if that breaks then potential for 1436 .

Last week was a bearish engulfing maybe due to Adp and NFp results
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  • #744
  • Sep 10, 2019 5:58pm Sep 10, 2019 5:58pm
Quoting EventsTrader
{quote} I've been very bullish on gold because of all the uncertainty around the world. Even if US-China trade relations improve, there is still the global slowdown, Brexit, Iran drama, etc. That's why yesterday I was surprised when it broke down the way it did. I think it's probably more of a short term correction rather than a trend reversal. Gold is supported by a lot of fundamentals right now.
It is also interesting also that on weekly Dow its right at major resistance . We have a one month long consolidation period below us after the drop due to the china issues and now we have a powerful spring base for potential new highs next month.
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  • #745
  • Sep 10, 2019 6:03pm Sep 10, 2019 6:03pm
Quoting malcolmb14
{quote} agrre with you 100 percent . If you look at pure fundamentals then gold should be safe haven however the charts show a potential correction on the weekly . 1480 is next support but if that breaks then potential for 1436 . Last week was a bearish engulfing maybe due to Adp and NFp results {image}
I agree with your sentiments about the potential correction. In fact, I made a post yesterday very similar to yours in mentioning the weekly TF. That 1436 level you have on your chart could be where it's headed.

Here's an updated weekly chart of the GC continuous contract. Regardless of the longer term upside, there is a lot of downside risk if a correction is underway.
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We must learn who is gold, and who is gold plated
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  • #746
  • Edited 6:27pm Sep 10, 2019 6:12pm | Edited 6:27pm
Quoting malcolmb14
{quote} It is also interesting also that on weekly Dow its right at major resistance . We have a one month long consolidation period below us after the drop due to the china issues and now we have a powerful spring base for potential new highs next month. {image}
Gold and Dow futures have been diverging, which makes sense in a risk environment. What's surprised me is that it's gold heading lower while equities hold on to gains. I'm long term bullish on gold and I think the US equity markets are overdue for a correction.

Here's Gold vs Dow futures (dow in purple) on a 15M:
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Here's the same comparison on an hourly going a little further back. They mostly have a negative correlation, although with the irrational behavior of the stock market in light of the Fed cutting rates, I'm not implying much.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #747
  • Sep 10, 2019 6:22pm Sep 10, 2019 6:22pm
Quoting EventsTrader
{quote} Gold and Dow futures have been diverging, which makes sense in a risk environment. What's surprised me is that it's gold heading lower while equities hold on to gains. I'm long term bullish on gold and I think the US equity markets are overdue for a correction. Here's Gold vs Dow futures (dow in purple) on a 15M: {image} Here's the same comparison on an hourly going a little further back. The mostly have a negative correlation, although with the irrational behavior of the stock market in light of the Fed cutting rates, I'm not implying much....
this why i love your charts and information thanks mate
people leave, but this thread will go on for ever
  • #748
  • Sep 10, 2019 8:25pm Sep 10, 2019 8:25pm
Right now, Gold futures is breaking back above the $1500 handle.
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We must learn who is gold, and who is gold plated
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  • #749
  • Sep 11, 2019 11:42am Sep 11, 2019 11:42am
Im shorting the sucker, in trade now...
Can you afford to take that chance?
  • #750
  • Sep 11, 2019 3:03pm Sep 11, 2019 3:03pm
Gold right now looked like it was heading back above 1500, but strong headwinds there. Just working some quick trades with tight stops to see if I can make something happen.
If in doubt, paddle out!
  • #751
  • Sep 11, 2019 4:50pm Sep 11, 2019 4:50pm
Gold is closed right now. But here we are again just above that $1500 handle. If we can hold up above that level, we may see gold continue higher.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #752
  • Sep 11, 2019 5:12pm Sep 11, 2019 5:12pm
Quoting EventsTrader
Gold is closed right now. But here we are again just above that $1500 handle. If we can hold up above that level, we may see gold continue higher. {image}
I think it all comes down to the ECB tomorrow. If they disappoint we get a continuation of this recent downtrend and we'll probably see 1450 soon.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #753
  • Sep 11, 2019 5:19pm Sep 11, 2019 5:19pm
Quoting Ef5
{quote} I think it all comes down to the ECB tomorrow. If they disappoint we get a continuation of this recent downtrend and we'll probably see 1450 soon.
$1450 isn't out of the question in terms of the lower end of a correction. But I think gold dropping that much is highly unlikely with all the other global turmoil/uncertainty supporting it. I will be posting a preview tonight. In the CPI preview I mentioned how CPI in April occurred during the ECB press conference. Here's what gold did that day during April's ECB presser.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #754
  • Sep 11, 2019 5:49pm Sep 11, 2019 5:49pm
Quoting EventsTrader
{quote} $1450 isn't out of the question in terms of the lower end of a correction. But I think gold dropping that much is highly unlikely with all the other global turmoil/uncertainty supporting it.
$1,450 really isn't that far of drop. Gold went from $1,300 to 1,550 in just 3 months:

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A $100 correction seems reasonable considering how far gold has come.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #755
  • Sep 11, 2019 7:05pm Sep 11, 2019 7:05pm
Gold is threatening that $1500 level right now after this news that triggered big moves: We have agreed to move the increased tariffs from Oct 1st to Oct 15th
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We must learn who is gold, and who is gold plated
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  • #756
  • Sep 12, 2019 3:26am Sep 12, 2019 3:26am
Quoting hayanidania
{quote} Oh demo... I tot it was real... Huhuhu..
thx for your concern bruh phew

Sixer still hasn't replied! Man I was just playin dawg! You can come back!
  • #757
  • Sep 12, 2019 4:42am Sep 12, 2019 4:42am
Quoting auricforecas
Im shorting the sucker, in trade now...
hope you werent greedy and exit in time, from short... with good leverage even
Can you afford to take that chance?
  • #758
  • Sep 12, 2019 8:43am Sep 12, 2019 8:43am
Well, I have a nice move in XAU now when the EURO news came out @145pm CET.
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  • #759
  • Sep 12, 2019 10:01am Sep 12, 2019 10:01am
Right now gold is quite active
If you have faith in our leaders of commerce, don't buy gold.
  • #760
  • Sep 12, 2019 1:52pm Sep 12, 2019 1:52pm
Will wait for this week to pass.. might decide to BUY some physical... was afraid I missed the train for it... or at least that I would overpay the ticket...
I think that we will still see some correction tomorrow, again/another red news scheduled for tomorrow... Gold Still look very attractive... I might enter BUY in the beginning of next week and also seriously thing of buying some bars...
Can you afford to take that chance?
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