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XAU/USD Spot Gold

  • #621
  • Aug 11, 2011 4:39am Aug 11, 2011 4:39am
Quoting Mike Haran
Couple of things worth noting on gold is volume, high volume surges with weak candle structures are things to look for, so a key reversal day on high volume would be a sign the smart money is selling into the rallys.

Gold stock usually follow gold however they have been declining as a group. Silver which usually tags along with gold has been struggling and has not passed its high.

No point in selling a market going up but it is worth watching for different patterns of behaviour, wait for it to put in a fall then watch what it does about trying...

you can post a chart to illustrate your point
  • #622
  • Edited 4:51am Aug 11, 2011 4:40am | Edited 4:51am
Quoting whatfx
actually my daily charts have shown overbought for many days. but today its different. it is actually showing overbought in the 'danger zone'. this usually means a dip or fall is imminent. albeit a brief one.

:nerd:

Suggest using the smaller intraday charts to lead you on to the longer timeframes....

With this volatility trying to trade gold purely on a daily basis is IMHO pretty much impossible....

beeb
  • #623
  • Aug 11, 2011 4:59am Aug 11, 2011 4:59am
i wont be touching gold today.


shorted the dow at 10865. presently at 10833. + 32 pips so far.

lets see what happens.

i have set a TP of 100 pips. but may come out earlier if necessary.
  • #624
  • Aug 11, 2011 5:21am Aug 11, 2011 5:21am
This is what I meant about using smaller timeframes - here's GC 10 min chart and the price has run into a wedge between the forks. whichever one wins becomes dominant and you can translate that up to bigger timeframes....

http://www.screencast.com/t/19J0OvRuC4

Hope that helps..

beeb
  • #625
  • Aug 11, 2011 5:25am Aug 11, 2011 5:25am
I don't know why do you need all this discussion about gold. Just buy when it retraces. Never go short.
  • #626
  • Aug 11, 2011 5:40am Aug 11, 2011 5:40am
looks like the dip i predicted is already happening....
  • #627
  • Aug 11, 2011 5:44am Aug 11, 2011 5:44am
Pop!

Gold M30
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  • #628
  • Aug 11, 2011 5:57am Aug 11, 2011 5:57am
Well, as i shouted yesterday, and i hope somebody listened, the drop started today and more and more to come.

take care
  • #629
  • Aug 11, 2011 6:06am Aug 11, 2011 6:06am
Quoting Theo
Well, as i shouted yesterday, and i hope somebody listened, the drop started today and more and more to come.

take care
Oh yeah? How come? Crystal ball or you have something to back it up?
  • #630
  • Aug 11, 2011 6:09am Aug 11, 2011 6:09am
Testing resistance.

Gold M15
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  • #631
  • Aug 11, 2011 6:29am Aug 11, 2011 6:29am
1,770 may be too strong.

Gold M15
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  • #632
  • Aug 11, 2011 6:39am Aug 11, 2011 6:39am
Quoting whatfx
i wont be touching gold today.


shorted the dow at 10865. presently at 10833. + 32 pips so far.

lets see what happens.

i have set a TP of 100 pips. but may come out earlier if necessary.



ok. iam out of my dow trade.

+ 100 pips profit.


iam indeed the man



iam off to pick up my hire car from wembley. i hope i dont get caught up in the riots here in the u.k.


see ya !
  • #633
  • Aug 11, 2011 6:59am Aug 11, 2011 6:59am
Tried one last sell at resistance, hopefully it will come through this time.

Gold M15
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  • #634
  • Aug 11, 2011 7:47am Aug 11, 2011 7:47am
if gold break 1764
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  • #635
  • Aug 11, 2011 9:44am Aug 11, 2011 9:44am
Quoting whatfx
negative net change ? but its only been less than an hour since market opened here in the u.k.,

how do you decide the correlation, do you have a criteria you use ?

is it best not to wait until say midday to see the % change. then decide which way the market will move...
I am in China, and Asian session is over when market opens in UK
it might sounds stupid but is really easy, a negative net change indicates more sellers then buyer, a positive one viceversa...
  • #636
  • Aug 11, 2011 10:08am Aug 11, 2011 10:08am
140pip
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  • #637
  • Aug 11, 2011 1:03pm Aug 11, 2011 1:03pm
300pip
Attached Image (click to enlarge)
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  • #638
  • Edited 1:45pm Aug 11, 2011 1:15pm | Edited 1:45pm
What's the lowest it could be for today? Is it 1724?

I just did a mistake from this morning...

Thanks
  • #639
  • Aug 11, 2011 1:21pm Aug 11, 2011 1:21pm
Time for the other one-way censored gold thread to get quite after the $70 drop from yesterday's Highs...

I bet after the gold margin hike effective 5 pm set today, we might see even more drop.

We will see...

Stocks and commodities might be waiting to jump, I feel. After all baragain hunters bought everything that was sold off during the panic a few days ago...
  • #640
  • Edited 4:33pm Aug 11, 2011 2:57pm | Edited 4:33pm
Quoting Fmfx
Time for the other one-way censored gold thread to get quite after the $70 drop from yesterday's Highs...

I bet after the gold margin hike effective 5 pm set today, we might see even more drop.

We will see...

Stocks and commodities might be waiting to jump, I feel. After all baragain hunters bought everything that was sold off during the panic a few days ago...


For goodness sake get a life....

Every "contribution" of yours from the 14th April onwards (gold 1478) has been a snarky and negative comment about gold......

For those that care you were thrown out of "the other thread" (after being warned) for continually making unsupported assertions and said snarky comments. But I don't suppose anyone other than you gives a damn......

Most people are mature enough to be able to go long or short depending on circumstances. FYI I am a long term gold bull but I closed my $300 profit longs (from beginning of July) yesterday and have been short most of today...

Try and say something positive for a change and ADD to the debate...

beeb

PS You're back on ignore again

WITH APOLOGIES TO THE OTHER CONTRIBUTORS
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