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  • #581
  • Aug 10, 2011 7:56am Aug 10, 2011 7:56am
Quoting Theo
I respect your opinion

take care

thanks - appreciate your civility



beeb
  • #582
  • Aug 10, 2011 8:28am Aug 10, 2011 8:28am
Quoting USD-Bear
Trying a short @ 1757

Attachment
This thing is hard to beat, managed to get out BE

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Don't be a hero. Don't have an ego. Always question yourself
  • #583
  • Aug 10, 2011 8:41am Aug 10, 2011 8:41am
looks like many of you will be shorting gold just about now !
  • #584
  • Edited 10:02am Aug 10, 2011 9:11am | Edited 10:02am
Quoting whatfx
every time gold make two or three new highs in a row, it falls



not necessarily. many times gold made 2 - 3 days of new highs but never fell, continued rising. so the assumption it will fall in such a scenario is not necessarly true.

so your guess to sell at 1772 was a very lucky one !
you are right, history never repeats in the markets, never in the same way at least

but if you have observed the price action in the last days, you will have noted that the daily range kept increasing, until reaching a 5 - 6% band yesteday, which was just too much on no big news

that's why I kept profit, but you guess, 50$ in two hours is big, and it was AGAINST the trend.
I have started to sell again today at 1776 and will increase up to 1800 or slightly higher if gold goes there without retracing

the correction I expect might not happen, but I really see some lack of power from buyers at these levels, or maybe just some smart sellers stepping in.
I believe gold will go up more, but chances to go higher increase much more with a correction that may lead price 100$ lower keeping the main trend intact
  • #585
  • Aug 10, 2011 9:18am Aug 10, 2011 9:18am
Quoting beeb
OK without wasting too much more time on this - you don't seem to get the point I was making - namely the graphic you originally posted of the various "manias" had a condensed time scale and an extended price scale to make the moves more apparent....I merely posted a gold chart that had the opposite done to it.

Thank you for advising me to look at harmony - after thirty years in the precious metals market I think I can do it quite well. See my 20 min GC chart in post # 567.

I was interested in the certainty of your timing:
Quote

I...
Agree with Theo. Gann S9 is also saying we will see GREATEST fall in gold from 15 august to 22 august. In this case forecast done using weekly data. NEoWave technics also saying that current Diametrical formation should make a top near 1800.
  • #586
  • Aug 10, 2011 9:29am Aug 10, 2011 9:29am
Quoting ph3onix
Agree with Theo. Gann S9 is also saying we will see GREATEST fall in gold from 15 august to 22 august. In this case forecast done using weekly data. NEoWave technics also saying that current Diametrical formation should make a top near 1800.

analysis is ok under normal market condition. but they dont mean a thing when we are in a midst of another recession. these arent normal market conditions we are seeing....

expect gold to break all norms and keep on rising.

maybe a slight dip here and there but at present it will nullify all analysis charts predictions and whatever else you use to predict market movements. you cant stop an unstoppable force. despite what charts and indicators show...
  • #587
  • Aug 10, 2011 9:33am Aug 10, 2011 9:33am
Actually i have a CIT on gold tomorrow morning Europe time, this may not be very strong because of the collapse of the stockmarket and Gold seems like save haven for everyone, but time will change until the 16:Th.
  • #588
  • Aug 10, 2011 9:34am Aug 10, 2011 9:34am
entered short for a quick set of pips, at 1775.

TP at 1755.

SL 1802. (i dont normally use SL's, but this is an exception due to the raging bullish nature at present)

may close earlier if market becomes stale.

lets see how things go.
  • #589
  • Aug 10, 2011 9:39am Aug 10, 2011 9:39am
Quoting Theo
Actually i have a CIT on gold tomorrow morning Europe time, this may not be very strong because of the collapse of the stockmarket and Gold seems like save haven for everyone, but time will change until the 16:Th.

i eagerly await the so called ''collapse'' you guys are predicting between the 16-20 august.

i have my original long position still open, so made enough pips on that already. not too bothered if a collapse occurs.

i have been looking to go short for a long time, so let the collapse begin....

but me thinks it is highly unlikely to occur
  • #590
  • Edited 9:56am Aug 10, 2011 9:43am | Edited 9:56am
Quoting ph3onix
Agree with Theo. Gann S9 is also saying we will see GREATEST fall in gold from 15 august to 22 august. In this case forecast done using weekly data. NEoWave technics also saying that current Diametrical formation should make a top near 1800.

Don't understand any of these techniques but will keep a close eye on my charts.

As I've said before I am bullish gold over the long term on fundamentals but see it as overbought on most technical indicators. I am long from lower on bigger timescales and have tightened up my stops despite intraday volatility. I am not "married" to being long and will gladly sell when the charts tell me to do so, and reload lower - again when the charts tell me.

I don't make price predictions as I believe the markets are too fluid

beeb
  • #591
  • Aug 10, 2011 10:01am Aug 10, 2011 10:01am
they say it can reach 2000 very soon
ROBOT FOREX
  • #592
  • Aug 10, 2011 10:04am Aug 10, 2011 10:04am
Quoting whatfx
i eagerly await the so called ''collapse'' you guys are predicting between the 16-20 august.

i have my original long position still open, so made enough pips on that already. not too bothered if a collapse occurs.

i have been looking to go short for a long time, so let the collapse begin....

but me thinks it is highly unlikely to occur
no reason to collapse in the current environment, but if central banks don't step in and buy for a few days in a row due to the high prices, we could see a quick and healthy drop

new high today but seems there are happy sellers at the top, at least for the moment
  • #593
  • Aug 10, 2011 11:01am Aug 10, 2011 11:01am
Quoting fammira
no reason to collapse in the current environment, but if central banks don't step in and buy for a few days in a row due to the high prices, we could see a quick and healthy drop

new high today but seems there are happy sellers at the top, at least for the moment

could you explain your central banks comment

thanks

beeb
  • #594
  • Aug 10, 2011 11:23am Aug 10, 2011 11:23am
Quoting Forbes55
they say it can reach 2000 very soon

lets hope so forbes55.

we wanna make money dont we ?
  • #595
  • Aug 10, 2011 12:09pm Aug 10, 2011 12:09pm
Quoting beeb
could you explain your central banks comment

thanks

beeb
hi beeb, as you probably know, many central banks, especially most of the asian ones, are full of dollars (many asian currencies are or have been USD pegged).We can mention China, Korea, Malasia, Singapore, have been buying other currencies and gold to diversify their huge USD reserves.

I know that when they don't buy, or when prices are (temporarily) considered high, gold price tend to fall, and it does it more quickly than when it rises.
I suspect that close to 1800 some banks may be tempted to buy at lower levels (1650 to low 1700).
China, for instance, usually does not buy at any price but buys on dips

I don't know what they will do in the next days, but if they step down for some time, there are good chances for gold to drop temporarily
  • #596
  • Aug 10, 2011 12:30pm Aug 10, 2011 12:30pm
took small profit on my last previous entry, now my first entry level is 1784.58
I expect more drop tomorrow, but I am ready to increase if it goes up above 1800
  • #597
  • Aug 10, 2011 12:46pm Aug 10, 2011 12:46pm
Quoting fammira
took small profit on my last previous entry, now my first entry level is 1784.58
I expect more drop tomorrow, but I am ready to increase if it goes up above 1800
hi, roger you on that 1800 level, i see a broadening top formation albeit on a lower 1hr TF,silver also a close sell at 39.70....sorry no charts

target for broadening top ard 1580

it shld drop some from here, equities to rally into close?.....just dont cut france tmrw pls

rgds,

T.
it had seemed so obvious at the time
  • #598
  • Aug 10, 2011 12:50pm Aug 10, 2011 12:50pm
Quoting fammira
hi beeb, as you probably know, many central banks, especially most of the asian ones, are full of dollars (many asian currencies are or have been USD pegged).We can mention China, Korea, Malasia, Singapore, have been buying other currencies and gold to diversify their huge USD reserves.

I know that when they don't buy, or when prices are (temporarily) considered high, gold price tend to fall, and it does it more quickly than when it rises.
I suspect that close to 1800 some banks may be tempted to buy at lower levels (1650 to low 1700).
China,...

Absolutely agree that they are supporting the dips - I thought you were implying that CB's were all that was pushing the market up....

thanks

beeb
  • #599
  • Edited 1:16pm Aug 10, 2011 12:56pm | Edited 1:16pm
GC 20 min forks that I've been trading - note the thick blue SP holding the two spike highs...

beeb
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  • #600
  • Aug 10, 2011 1:27pm Aug 10, 2011 1:27pm
Quoting beeb
Absolutely agree that they are supporting the dips - I thought you were implying that CB's were all that was pushing the market up....

thanks

beeb
not at all, but they really have helped the rise...
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