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Gold Discussion

  • #361
  • May 27, 2009 6:37am May 27, 2009 6:37am
Quoting Pirin
I don't think that another test over $1000 will succeed in the near term.
If you are unsure of the rally, you can enter only after 972 is broken. But my suggestion is that you do not short the position at this moment (if you take my suggestion).
  • #362
  • May 27, 2009 1:52pm May 27, 2009 1:52pm
Gold tested support several times today, but only broke it shortly. No clear direction right now, but must probably the price is going to rise.
Twitter: @forexpokerpro
  • #363
  • May 28, 2009 5:18am May 28, 2009 5:18am
entered short on the retrace of the 8H bearish outside bar.....
  • #364
  • May 28, 2009 6:33am May 28, 2009 6:33am
Quoting zimdonks
entered short on the retrace of the 8H bearish outside bar.....
at what price ?
Twitter: @forexpokerpro
  • #365
  • May 29, 2009 2:38am May 29, 2009 2:38am
967.55 now, key resistance, if broken gold will retest 1000.
  • #366
  • May 29, 2009 2:11pm May 29, 2009 2:11pm
The ounce of gold is trading at 973.85 usd and is keeping the upwards trend. The next resistance is at 981.70. However, if the trend reverts, the target is found at 972.33 xauusd
  • #367
  • Jun 1, 2009 3:38pm Jun 1, 2009 3:38pm
a bit of retracement in the process...

shorted @ 974.58
Twitter: @forexpokerpro
  • #368
  • Edited 7:49am Jun 2, 2009 5:21am | Edited 7:49am
If 990 is not broken this week, the trend reversal is almost confirmed. Astrologically, the mercury has gone past the saggitarus on May 30, and this is a potential reversal sign. I am out this week.
  • #369
  • Jun 3, 2009 2:43am Jun 3, 2009 2:43am
Quoting epilogue
Astrologically, the mercury has gone past the saggitarus on May 30, and this is a potential reversal sign. I am out this week.
you are joking right ?
  • #370
  • Jun 3, 2009 3:17am Jun 3, 2009 3:17am
Quoting epilogue
If 990 is not broken this week, the trend reversal is almost confirmed. Astrologically, the mercury has gone past the saggitarus on May 30, and this is a potential reversal sign. I am out this week.
Interesting. Another thing I heard was the IMF was going to dump a bunch a gold on the market and drive prices down.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #371
  • Jun 3, 2009 5:10am Jun 3, 2009 5:10am
Quoting Pirin
you are joking right ?
Seriously, i am not joking. I strongly look for astrological signals along with technical and fundamentals before taking any entry. You might find this silly, but i had buy position from may 19 at 922 price level, the exact start day of mercury-sagittarus relation. This relation actually rapidly increases overall all commodity prices. U can see any commodity, soybeans, wheat, everything, they all have gone high from exactly may 19. And you should note that on may 30, all items are starting to consolidate.

I dont totally rely on astrology, but i certainly take its signals.
  • #372
  • Jun 3, 2009 10:10am Jun 3, 2009 10:10am
Quoting epilogue
Seriously, i am not joking. I strongly look for astrological signals along with technical and fundamentals before taking any entry. You might find this silly, but i had buy position from may 19 at 922 price level, the exact start day of mercury-sagittarus relation. This relation actually rapidly increases overall all commodity prices. U can see any commodity, soybeans, wheat, everything, they all have gone high from exactly may 19. And you should note that on may 30, all items are starting to consolidate.

I dont totally rely on astrology, but...
I can accept any theory that is backed up with statistics. No obvious correlation between gold price and astrology, but if you could name me the last 10 dates (is it always on 23.05?) when this relation has occured i can check and see if there is any similarities with this case.
  • #373
  • Jun 5, 2009 9:29am Jun 5, 2009 9:29am
This was what i was worried about. Finally, gold broke that 960 level. Now it is going to fall very rapidly. The upward momentum is seized. It's a reversal. Quit all long positions.
  • #374
  • Jun 5, 2009 10:10am Jun 5, 2009 10:10am
Quoting epilogue
If 990 is not broken this week, the trend reversal is almost confirmed. Astrologically, the mercury has gone past the saggitarus on May 30, and this is a potential reversal sign. I am out this week.
So, how and where you learn about astrology for trading, my friend? I want to learn it
Price action is the most important thing
  • #375
  • Jun 7, 2009 6:46am Jun 7, 2009 6:46am
http://www.atimes.com/atimes/Global_.../KE30Dj01.html
"The Germans have demanded all of their gold held in custodial accounts inside the United States to be returned to German soil."

"The Germans have also given counsel for Dubai to demand all of their gold held in custodial accounts inside London to be returned to Dubai, where a new gold [COLOR=green! important][COLOR=green! important]trading[/color][/color] center will spring up. In my view, THIS IS THE BIGGEST NEWS FOR GOLD THIS ENTIRE YEAR."

Paper money, nice. Mind if I add a zero, Just one, I promise.
  • #376
  • Jun 7, 2009 9:46am Jun 7, 2009 9:46am
Quoting pippy le pur
http://www.atimes.com/atimes/Global_.../KE30Dj01.html
"The Germans have demanded all of their gold held in custodial accounts inside the United States to be returned to German soil."

"The Germans have also given counsel for Dubai to demand all of their gold held in custodial accounts inside London to be returned to Dubai, where a new gold [COLOR=green! important][COLOR=green! important]trading[/color][/color]...
Hmmm, bet their Gold is long gone. Doubt they will ever see it again, but who knows for sure.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #377
  • Jun 7, 2009 4:37pm Jun 7, 2009 4:37pm
In my opinion this is just a correction and it will offer a great entry for those who are ready for a long ride past 1000. I'm waiting for a drop to 935/30 to enter long.
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  • #378
  • Jun 8, 2009 12:03am Jun 8, 2009 12:03am
Well, i think prices are going to fall all the way to 940 around, where it will find enough support to target 1000 again. I will wait to see if 940 is broken or not. If prices bounces off 940, it is a clear buy. Astrologically, later part of june is a good buy, after june 15 though. Till then, market will just consolidate. I just pray it doesn't break 940. A complete, non-stop fall will only happen on august 14 "The Black Friday". Lets hope so.
  • #379
  • Jun 8, 2009 3:08am Jun 8, 2009 3:08am
Gold plunged $31 as Dollar strengthened across the majors. Gold as expected retraced to take support around $952 (21 Daily EMA and trendline support). The charts are reaching the oversold territory and decisive break of this support can take Gold to $925 support. Initiate longs around $950 for $10 and further around $925 for $15-20. (Gold- $958.40). Bullish
  • #380
  • Jun 9, 2009 2:38am Jun 9, 2009 2:38am
Gold remained on the defensive for the second trading day in a row as the US dollar continued to appreciate against the Euro supported by global equity markets weakness, general risk aversion and a downgrade to Standard & Poor's credit rating for Ireland. There were long liquidation and sell stops triggered with the downward move possibly accentuated by reports of a slight decline in physical holdings of gold ETFs. Although towards the close the yellow metal managed to regain some of the losses, it settled $1.47 lower at $953.83/oz.
The short and long term trends are bullish while medium term trend is sideways.
Support: $942.85 (yesterday's low) Resistance: $982.80 (high of 04/05/09)
Support: $935.55 (low of 21/05/09) Resistance: $966.24 (9 day moving average)
Support: $924.75 (low of 20/05/09) Resistance: $959.70 (yesterday's high)
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