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Gold Discussion

  • #601
  • Sep 24, 2009 6:17am Sep 24, 2009 6:17am
I second...er...third that, as Hasnaa your effort is somewhat wasted without a little interpretation. I'm guessing the way the numbers work, is that with the latest 1 and 2 positions set out, that we're looking for the next upswing to hit the 3 at 1,047. Getting through that line at the 1 at 1,023 is probably the first step to watch as an indicator that we're heading that way. Whereas breaking below the lines around the previous 4 at 980 or so and the previous 1 at 971 would be bad. As for that top line at 1,078, maybe that's an indicator that gold's overshot and is going straight to the moon (one can hope...).

:nerd:
  • #602
  • Sep 24, 2009 7:36am Sep 24, 2009 7:36am
jabalong big thanks for the video! very intresting
if somebody have more of this - please post.
  • #603
  • Sep 24, 2009 7:51am Sep 24, 2009 7:51am
I tend to agree with this analyst quote, “The dollar and risk sentiment will continue to lead gold in the coming sessions well placed to set fresh highs.” Another analyst said, “Gold remains well supported. The support is even more noteworthy given crude oil’s slide yesterday.” Investor interest remains strong as ETFs continue to receive strong inflows of money. Additional tailwinds to price of gold: Pictet & Cie, Switzerland’s largest private bank, will start a fund backed by physical gold next month in an attempt to help its investors protect against inflation.
  • #604
  • Sep 24, 2009 1:35pm Sep 24, 2009 1:35pm
Gold is done for now. Uptrend ended here today. I am still bullish, but I guess it'll be a while before we'll see another good entry for a good move upwards. I'm staying out.
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #605
  • Sep 24, 2009 3:35pm Sep 24, 2009 3:35pm
I posted my daily chart for Sept. 24th on my blog
  • #606
  • Sep 24, 2009 4:04pm Sep 24, 2009 4:04pm
hey hell ... like the stuff you are doing, but I wish your charts were a little clearer. For me personally, it would help if you could just zoom in a little .. maybe post a rough chart as you do and another one that zooms in on the current candles (not zooming in by timeframe, but just for the view if you know what I am getting at ...)
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #607
  • Edited 4:38pm Sep 24, 2009 4:12pm | Edited 4:38pm
Quoting Slight
hey hell ... like the stuff you are doing, but I wish your charts were a little clearer. For me personally, it would help if you could just zoom in a little .. maybe post a rough chart as you do and another one that zooms in on the current candles (not zooming in by timeframe, but just for the view if you know what I am getting at ...)
Did you try clicking on a chart, so they show up in real size? I could zoom in a bit more, but I like that the charts show where lines are coming from.
  • #608
  • Sep 24, 2009 4:53pm Sep 24, 2009 4:53pm
Yea I see your point. It's good to post the charts how you do for people who are not clear on what's happening. For the current situation it gets, at least for my taste, too fuzzy with all the lines cramped where they finish off. Just for that (the last couple of price bars including the current one) it would, at least for me, be better to see it more clearly.. which I could if you zoomed in. But hey, no worries, I can always check my own chart to see the details
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #609
  • Sep 25, 2009 3:56am Sep 25, 2009 3:56am
So Ladies and Gentlemen what do you expect in the next week?
  • #610
  • Sep 25, 2009 4:23am Sep 25, 2009 4:23am
it will be an interesting U.S session to say the least i think, to give more clues to next week. ? likewise ill be interested to hear what others have to say
  • #611
  • Sep 25, 2009 4:24am Sep 25, 2009 4:24am
up and down and then up and down again. I think there is not going to be a clear trend in either direction. From the daily perspective it's going to be a while before anything tradable is going to appear again (which will be upwards though I believe)
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #612
  • Sep 25, 2009 5:31am Sep 25, 2009 5:31am
With usd so low, i expect gold to go up again. Oil probably pulling it down abit.
  • #613
  • Sep 25, 2009 7:45am Sep 25, 2009 7:45am
Here are some support levels:

Support: $994.26 Resistance: 1018.45
Support: $984.98 Resistance: 993.26
Support: $965.34 Resistance: 983.20

http://spot-gold-price.org/spot-gold...eptember-2009/

We've just bounced off 985 and I think we may see 965, which would be in line I believe with Hell7's median line on his pitchfork.

This is also in line with that video I posted yesterday - I think we could very well see a bottom over the next 7-10 days, which would mark good entry levels as gold sets its sight on new heights after that.
  • #614
  • Sep 26, 2009 1:35am Sep 26, 2009 1:35am
Quoting Slight
Gold is done for now. Uptrend ended here today. I am still bullish, but I guess it'll be a while before we'll see another good entry for a good move upwards. I'm staying out.
I supporty your view, u shouldn t be out though!
  • #615
  • Sep 26, 2009 2:28am Sep 26, 2009 2:28am
Quoting Pirin
I agree. Big correction expected and then long.
I'll be buying the supports - 992, 960, 930 if we get there.
  • #616
  • Sep 26, 2009 3:49am Sep 26, 2009 3:49am
Quoting Tomo1
I supporty your view, u shouldn t be out though!
you think I should rather wait until price retraces and kills all my profits?! I took about 85% of that trend, and now enjoying my profits. waiting to get long again after a retrace, with a better entry as it is now.
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #617
  • Sep 26, 2009 8:38am Sep 26, 2009 8:38am
I posted my daily & weekly charts for the week ending Sept. 25th 2009 on my blog
  • #618
  • Sep 27, 2009 10:39am Sep 27, 2009 10:39am
My analysis of chart shows that it's heading down for the next couple of days or even weeks, reaching as low as 971 the least. As soon as the correction completes, it'll head higher again, even surpassing its last high at 1032.
  • #619
  • Sep 27, 2009 11:07pm Sep 27, 2009 11:07pm
Quoting The Oracle
My analysis of chart shows that it's heading down for the next couple of days or even weeks, reaching as low as 971 the least. As soon as the correction completes, it'll head higher again, even surpassing its last high at 1032.
gold retrace to no lower than 950 completes wave 4 move down then 1200

950 breaks to down side then ltl on daily broken

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  • #620
  • Sep 28, 2009 12:35am Sep 28, 2009 12:35am
Nice chart, thanks. Seems like a growing degree of consensus about another leg lower in the near term then off we go again.
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