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XAU/USD Spot Gold

  • #541
  • Aug 9, 2011 1:43am Aug 9, 2011 1:43am
gold is pulling back. Is this because of QE3? If it does gets implemented does that usually mean shares bounce back and gold falls?
  • #542
  • Aug 9, 2011 3:39am Aug 9, 2011 3:39am
those of you who are arguing gold will go down. forget it. quit predicting. just trade the charts. thats your safest bet.

gold may have a dip but long term it is up and up.

i opened a long position last night just before i went to bed at 1724 with a TP of 30 pips. woke up this morning with + 30 pips in my kitty !

similarly i shorted the dow at 10651 and set a TP of 200 pips. again woke up this morning with +200 pips in my account !

so i think i may be done for the day. about 20 mins ago shorted the dow again at 10836. presently up + 110 pips. will leave that open till end of day.


so far today:

gold + 30 pips

dow + 200 pips.



very pleased indeed.
  • #543
  • Aug 9, 2011 3:46am Aug 9, 2011 3:46am
Quoting whatfx
those of you who are arguing gold will go down. forget it. quit predicting. just trade the charts. thats your safest bet.

gold may have a dip but long term it is up and up.

i opened a long position last night just before i went to bed at 1724 with a TP of 30 pips. woke up this morning with + 30 pips in my kitty !

similarly i shorted the dow at 10651 and set a TP of 200 pips. again woke up this morning with +200 pips in my account !

so i think i may be done for the day. about 20 mins ago shorted the dow again at 10836. presently...

today is a typical pattern, we will see 1680 - 1700 later this week
  • #544
  • Aug 9, 2011 4:11am Aug 9, 2011 4:11am
closed my dow position at 10636, thats another + 200 pips banked to day.


so far today i have made + 30 pips, + 200 pips, + 200 pips.

total + 430 pips.

thats pretty good , and its not even afternoon yet !

but i think i will call it quits for the day, go have some fresh air.

aaahhh....the joys of trading. all the worries and losses for the past two weeks have dissappeared into thin air !!
  • #545
  • Aug 9, 2011 4:17am Aug 9, 2011 4:17am
Nothing last forever! Gold cannot continue this manner forever.

Remember, it is the trade world, its behavior is against public belief. If everyone believes that Gold will only go up; then Gold will fall. Otherwise, everyone would be rich
  • #546
  • Aug 9, 2011 4:21am Aug 9, 2011 4:21am
1772 my first sell

will sell up to 1805

watch silver (if USDJPY and USDCHF were just not enough) and realize something is wrong here

gold should reverse after FoMC
  • #547
  • Aug 9, 2011 4:23am Aug 9, 2011 4:23am
Quoting fammira
1772 my first sell

will sell up to 1805

just on my way out.

i wouldnt short gold if i were you, why go against the trend ?

unless you want to scalp for a quick few pips. but even then are you sure gold is gonna move down in your favour ?


bye for the day..
  • #548
  • Aug 9, 2011 4:30am Aug 9, 2011 4:30am
Quoting whatfx
just on my way out.

i wouldnt short gold if i were you, why go against the trend ?

unless you want to scalp for a quick few pips. but even then are you sure gold is gonna move down in your favour ?


bye for the day..
wait and see

every time gold makes new high for two three days in a row, a good correction comes, this without changing the main trend

if you call 50 - 100$ a few pips, well, lucky you
  • #549
  • Aug 9, 2011 4:32am Aug 9, 2011 4:32am
Quoting fammira
watch silver (if USDJPY and USDCHF were just not enough) and realize something is wrong here
USD/CHF is actively bearish, and as I said earlier it will be in the forthcoming days.
  • #550
  • Aug 9, 2011 4:38am Aug 9, 2011 4:38am
Quoting etrade
USD/CHF is actively bearish, and as I said earlier it will be in the forthcoming days.
a reversal is close in CHF pairs as well

this is another typical, with many stop hunts in a row...almost everyone was bullish CHF, now everyone wants to sell any EURCHF and USDCHF

buy, calmly watch and be happy, USDCHF will be above 1 before year ends
  • #551
  • Aug 9, 2011 4:53am Aug 9, 2011 4:53am
Quoting fammira
buy, calmly watch and be happy, USDCHF will be above 1 before year ends
TOTALLY AGREE
  • #552
  • Aug 9, 2011 5:53am Aug 9, 2011 5:53am
Market talk that Fed is selling gold reserves
Unconfirmed.

Source: FT Alphaville
  • #553
  • Aug 9, 2011 6:04am Aug 9, 2011 6:04am
Quoting fosking
Market talk that Fed is selling gold reserves
Unconfirmed.

Source: FT Alphaville
Really? It will be a BOMB in gold market. Good deal for FED. I am waiting to see when China will sell gold reserves
  • #554
  • Aug 9, 2011 6:08am Aug 9, 2011 6:08am
Quoting etrade
Really? It will be a BOMB in gold market. Good deal for FED. I am waiting to see when China will sell gold reserves
This came over the wires a little bit ago:
Chinas gold reserve may show 'exponential rise' according to the Gold Council
  • #555
  • Aug 9, 2011 6:36am Aug 9, 2011 6:36am
Quoting fammira
1772 my first sell

will sell up to 1805

watch silver (if USDJPY and USDCHF were just not enough) and realize something is wrong here

gold should reverse after FoMC
My system tells me the same, i will sell untill 1815 and we should be there or we shall start the down trend after the 11 of Aug.
  • #556
  • Aug 9, 2011 6:42am Aug 9, 2011 6:42am
Quoting Theo
My system tells me the same, i will sell untill 1815 and we should be there or we shall start the down trend after the 11 of Aug.
we should be around 1700 - 1720 after FOMC meeting
  • #557
  • Aug 9, 2011 7:42am Aug 9, 2011 7:42am
Quoting fammira
we should be around 1700 - 1720 after FOMC meeting
Everyone is waiting for the FOMC meeting; it can change the whole trend or support the current uptrend. My guess is to support US dollar (at least temporarily if not substantially).
  • #558
  • Aug 9, 2011 9:53am Aug 9, 2011 9:53am
Quoting etrade
Everyone is waiting for the FOMC meeting; it can change the whole trend or support the current uptrend. My guess is to support US dollar (at least temporarily if not substantially).
hard to say, but so far I am happy to have sold at 1772 and profit at 1723 in less than 2 hours....go figure...
  • #559
  • Aug 9, 2011 10:04am Aug 9, 2011 10:04am
Currently short, looking to get long again soon.

Gold H4
Attached Image (click to enlarge)
Click to Enlarge Name: gold1.png Size: 170 KB
  • #560
  • Aug 9, 2011 10:27am Aug 9, 2011 10:27am
Quoting fammira
we should be around 1700 - 1720 after FOMC meeting
Good call!
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