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Gold techniques, systems, and individual trades

  • #121
  • Apr 16, 2010 10:05am Apr 16, 2010 10:05am
Quoting guitarjrb
I set a 100($1.00) trailing stop on my position and it survived for 1500 pips. That's baffling! Basically, gold crumbled 15+ dollars without a single 1.00 retrace until the bottom. I'll resell a test of the 200 hour MA which is currently at 1155.37.

EDIT: That should read this "200 hour MA which is currently at 1151.32" My chart was on the 4 hr when I wrote this post
congrats on your profit

as we have been discussin for the last couple of days.... gold has finally cracked ... as per my reading it should crack further ... to 32 and 25 levels ... as indian gold correction isnt over yet.... waiting for 11550
  • #122
  • Apr 16, 2010 10:07am Apr 16, 2010 10:07am
Quoting tech niche
congrats on your profit

as we have been discussin for the last couple of days.... gold has finally cracked ... as per my reading it should crack further ... to 32 and 25 levels ... as indian gold correction isnt over yet.... waiting for 11550
I'm assuming this move is because of the Goldman news. "Goldman charged with fraud" on CNBC.
  • #123
  • Apr 16, 2010 10:17am Apr 16, 2010 10:17am
Wow, gold just dumped.
  • #124
  • Apr 16, 2010 10:21am Apr 16, 2010 10:21am
Quoting guitarjrb
I'm assuming this move is because of the Goldman news. "Goldman charged with fraud" on CNBC.
yes
it is because of that only ...
and almost all tgt achieved

and this is a good reply for all those who a few days were talking about the gold moving techinically not fundamentally
  • #125
  • Apr 16, 2010 10:25am Apr 16, 2010 10:25am
Quoting tech niche
yes
it is because of that only ...
and almost all tgt achieved

and this is a good reply for all those who a few days were talking about the gold moving techinically not fundamentally
that's hard to say...i traded based on a MA and fibs...current pa slammed into the 38.2 and stopped(a technical figure). I agree that fundamentals are important, but for the most part they are not a part of my trading. Fundamentally, Goldman's charges have nothing to do with the price of gold, nor any other currency for that matter.
  • #126
  • Apr 16, 2010 10:46am Apr 16, 2010 10:46am
Quoting guitarjrb
that's hard to say...i traded based on a MA and fibs...current pa slammed into the 38.2 and stopped(a technical figure). I agree that fundamentals are important, but for the most part they are not a part of my trading. Fundamentally, Goldman's charges have nothing to do with the price of gold, nor any other currency for that matter.
it all depends on the perception
the news was bad for US and its currency and it has all the heavens to do with GOLD
  • #127
  • Apr 16, 2010 10:52am Apr 16, 2010 10:52am
Quoting tech niche
it all depends on the perception
the news was bad for US and its currency and it has all the heavens to do with GOLD
I'm just giving you a hard time tech. Anyway, I have several short positions in now...moving too fast to post. Dow is crumbling...so I guess I made some trades based on a fundamental factor. :-) Hoping for a good 11,000 break very soon.

EDIT: When I say several....i mean 400 oz. ;-). Feeling spunky!

EDIT2: Closed one of my 4 trades at 1132

EDIT3: Boom...there goes 11,000!
  • #128
  • Apr 16, 2010 11:15am Apr 16, 2010 11:15am
Closed all of my trades with the bounce off of the trendline drawn from the Jan highs to the March highs. Will resell up around 1147 if given the chance, else I'll sell a break of the said trendline.
  • #129
  • Apr 16, 2010 12:40pm Apr 16, 2010 12:40pm
Quoting guitarjrb
I'm just giving you a hard time tech. Anyway, I have several short positions in now...moving too fast to post. Dow is crumbling...so I guess I made some trades based on a fundamental factor. :-) Hoping for a good 11,000 break very soon.

EDIT: When I say several....i mean 400 oz. ;-). Feeling spunky!

EDIT2: Closed one of my 4 trades at 1132

EDIT3: Boom...there goes 11,000!
now i m not on charts
how do u see gold now
i believe, if it takes a good support at 32 then it might just retrace lil bit to 41/47 types
els next level is 1125 for the support

n for dow 11,000 is a very crucuial level
ryt now at 10997, another 100 point slip could spill the beans all over the place.

hope you have made a good profit
  • #130
  • Apr 16, 2010 1:48pm Apr 16, 2010 1:48pm
Quoting tech niche
now i m not on charts
how do u see gold now
i believe, if it takes a good support at 32 then it might just retrace lil bit to 41/47 types
els next level is 1125 for the support

n for dow 11,000 is a very crucuial level
ryt now at 10997, another 100 point slip could spill the beans all over the place.

hope you have made a good profit

I'm seeing the same thing as you. I'd like to sell at 1147 or so. If not, i'll sell a break of the trendline which is almost exactly the lows of the day...to the penny. Only concern on selling the trendline break is the 1125 support.
  • #131
  • Apr 19, 2010 5:26am Apr 19, 2010 5:26am
Things are looking ugly on the Weekly and Daily charts of gold with the Ichimoku. PA is below both the tenkan and kijun. The weekly really has as far as $1000 to go before finding cloud support. The daily has support at about 1094.49 on the Ichi chart, however, I feel that a break below 1100 will be significant enough for at least the 1086 area in the short term.
  • #132
  • Apr 19, 2010 5:37am Apr 19, 2010 5:37am
]Hi,

I go LONG in 1125.
Stop 1114
Target 1160/1180

If the price continues to drop, and touch my stop, then I will come again LONG.
From 1111 to 1087 is my new level to go long.
Target 1160/1180
Take care! Bloo
  • #133
  • Apr 19, 2010 6:33am Apr 19, 2010 6:33am
Quoting bloo
]Hi,

I go LONG in 1125.
Stop 1114
Target 1160/1180

If the price continues to drop, and touch my stop, then I will come again LONG.
From 1111 to 1087 is my new level to go long.
Target 1160/1180
i agree with you and here attach a chart support the same
Attached Image (click to enlarge)
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  • #134
  • Apr 19, 2010 8:50am Apr 19, 2010 8:50am
It would be considerable too......




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Attached Image (click to enlarge)
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  • #135
  • Apr 20, 2010 4:28am Apr 20, 2010 4:28am
Gold Can go up to 1148-52 levels after making low of 1124.3 GCM10
  • #136
  • Apr 20, 2010 5:29am Apr 20, 2010 5:29am
Nice bounce going on! I'll look to short at the daily tenkan which comes in at 1146.64
  • #137
  • Apr 21, 2010 5:55am Apr 21, 2010 5:55am
Quoting guitarjrb
Nice bounce going on! I'll look to short at the daily tenkan which comes in at 1146.64
now for two days, gold has been tryin to break off the resistance posed at 46 for next levels of 50/52 or may be further more
  • #138
  • Apr 21, 2010 6:01am Apr 21, 2010 6:01am
Quoting tech niche
now for two days, gold has been tryin to break off the resistance posed at 46 for next levels of 50/52 or may be further more
it is hard to see upside any more.. on top side around 1144-46 lvls theres good selling..downside 1141 if breaks 1137 seems possible..seems playing in small range
  • #139
  • Apr 22, 2010 2:41am Apr 22, 2010 2:41am
Quoting bullion.deal
it is hard to see upside any more.. on top side around 1144-46 lvls theres good selling..downside 1141 if breaks 1137 seems possible..seems playing in small range
as discussed earlier also
nothin is too hard for gold
sittin pretty on 49 and yesturday touched a high of 50.60 as a resistance ...
dont be surprised if upward move continues.
  • #140
  • Edited 3:26am Apr 22, 2010 3:24am | Edited 3:26am
Quoting tech niche
as discussed earlier also
nothin is too hard for gold
sittin pretty on 49 and yesturday touched a high of 50.60 as a resistance ...
dont be surprised if upward move continues.
Does it not look like it might be in a down trend now? I'm hoping for a rejection of the upper trendline/resistance/fib confluences for a short down to about 1141.

Lets see what song the fat lady sings today.....

I put in a sell stop (demo) for 1144.5 with a target of 1141.5
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gold_zoom_out.gif Size: 16 KB
Click to Enlarge Name: gold_zoom_in.gif Size: 14 KB
Anything can happen.
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