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Gold Discussion

  • #481
  • Jul 23, 2009 4:17pm Jul 23, 2009 4:17pm
Quoting Pirin
How about that move, too bad my target was missed for 80 pips, now I'll have to keep a trade in red )) looks like we will have the opportunity to buy cheap gold. I really hope this confidence lasts a bit longer than I expect... I was looking for best buy levels and my personal favorites are the strong resistance at 942 which should turn into a support and the ~875 levels if this should turn in to a trend. I currently have only 1 long position from 955.05which is -499,5 pips in the red zone...
Sorry to hear that.. That's a lot to be down. I hope it works out for you.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #482
  • Jul 24, 2009 1:33am Jul 24, 2009 1:33am
Quoting england33
Sorry to hear that.. That's a lot to be down. I hope it works out for you.
Thanks I think that yesterday DOW pushing over 9000 for the first time made people overexcited. But as a matter of fact we have trillions of new M0 money supply printed all over the world and inflation is still the easiest thing to import + after a while these huge budget deficits will have to be filled, which means higher taxes, which takes us to even higher PPI and it all be sooner or later it will be priced in the XAU ... and as you said if oil starts to gain, there is no telling where gold can take us to Of course if we are on our way out of the recession I'll have to wait a while, but in the end we are probably going to get over $1200-$1300. Have a profitable day my fellow traders, I'll have to go to work, because my bank managed to survive the crisis for some unknown reason )))
  • #483
  • Jul 24, 2009 1:48am Jul 24, 2009 1:48am
Quoting Hell7
Buy?

Long term goldbugs probably buy every dip. But you seem to be a day- or swing trader, so I can only ask: have you seen my chart above? I sold 3 spikes today and made more then 20 full points. Until that fork is broken, there is only one way to trade this: short each and every spike!
I do trade long term as well
  • #484
  • Jul 24, 2009 3:14pm Jul 24, 2009 3:14pm
Another indecisive day: the price is still testing the downward channel, and can't seem to get above the 61% retrace of the last downward move. If it does, I'll start buying dips till we reach the upper yellow line, but until then I stay negative and sell spikes.
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  • #485
  • Jul 24, 2009 3:25pm Jul 24, 2009 3:25pm
Quoting Pirin
I do trade long term as well
Then buying gold is certainly the thing to do
  • #486
  • Jul 27, 2009 4:52am Jul 27, 2009 4:52am
Red are the strong resistances, purple are possible retraces, green price label is my next target. I'll also be looking for a dip to buy more gold, but only if it is after a decent retrace. All levels are relative.
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  • #487
  • Jul 28, 2009 7:53am Jul 28, 2009 7:53am
Quoting Lou
What is the relationship to the USD of the price of gold ?
If Gold goes up the USD goes ___________ ?

Or is it a more complicated relationship?

LOU

USD goes UP, Gold goes DOWN
  • #488
  • Jul 28, 2009 7:55am Jul 28, 2009 7:55am
Quoting rdennis
USD goes UP, Gold goes DOWN
He was waiting 5 years for that answer, you made his day
  • #489
  • Jul 28, 2009 1:24pm Jul 28, 2009 1:24pm
i am trend trader and i believe that GOLD is still trending up !!! some retrenchments and consolidations r part of the trend ..... good luck !!!

the chart below is not realy good cause i couldn't re size it
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  • #490
  • Jul 28, 2009 2:27pm Jul 28, 2009 2:27pm
The red channel I am posting for a while now gave me another great short opportunity again today!

If I think logically, gold should go up. It probably will somewhere in the future. But for now, I trade what the charts say and they say down.
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  • #491
  • Jul 29, 2009 11:15am Jul 29, 2009 11:15am
i dont disagree that u always have to follow what ur charts say .... we trade what we see and not what we hear! ...

great job on that short hell7!!
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  • #492
  • Jul 29, 2009 1:30pm Jul 29, 2009 1:30pm
Quoting Hell7
The red channel I am posting for a while now gave me another great short opportunity again today!

If I think logically, gold should go up. It probably will somewhere in the future. But for now, I trade what the charts say and they say down.
nice call
  • #493
  • Jul 30, 2009 2:54am Jul 30, 2009 2:54am
test
  • #494
  • Aug 4, 2009 11:23am Aug 4, 2009 11:23am
I'll reduce my target to 969,60 , this move seems to be pretty strong and will probably go out of power soon.
  • #495
  • Aug 4, 2009 1:57pm Aug 4, 2009 1:57pm
Gold backtested the upper line of the red fork again and then staged a nice rally, making some good progress on its journey towards the upper yellow line
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  • #496
  • Aug 4, 2009 3:10pm Aug 4, 2009 3:10pm
Quoting Pirin
I'll reduce my target to 969,60 , this move seems to be pretty strong and will probably go out of power soon.
bull's eye
  • #497
  • Aug 5, 2009 4:20pm Aug 5, 2009 4:20pm
A beautiful drop is what we see now, I'm not selling, but I'm sure lurking for the right place to buy. So far 959.50 seems like a good level to place the first order with a target of 985.50.
  • #498
  • Aug 7, 2009 12:11am Aug 7, 2009 12:11am
Yes... I also think the price will raise more until level 980.

Any recent news about gold?
  • #499
  • Aug 9, 2009 9:11am Aug 9, 2009 9:11am
Quoting Pirin
A beautiful drop is what we see now, I'm not selling, but I'm sure lurking for the right place to buy. So far 959.50 seems like a good level to place the first order with a target of 985.50.

mate i think Gold still bull ..i want to wait for a good reversal and see of i can invest some cent into it..a breakout is what i am waiting for...
here is my weekly view
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MY OPINION NOT FINANCIAL ADVISE
  • #500
  • Aug 9, 2009 10:36am Aug 9, 2009 10:36am
Quoting donfriday
mate i think Gold still bull ..i want to wait for a good reversal and see of i can invest some cent into it..a breakout is what i am waiting for...
here is my weekly view
I am watching some of the same levels too. I don't know if it's bull or bear though, the dollar is at a risky point I think.
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