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Gold and Silver Daily

  • #21
  • Aug 12, 2011 1:53pm Aug 12, 2011 1:53pm
Quoting myk
Gold Prices Seen Falling Next Week

Tho their predictions are not correct mostly.
sounds true. but the principle of contrary opinion holds that if the vast majority of people agree on anything, they are generally wrong. (technical analysis of the financial markets : john murphy)

well the sample size was pretty small to conclude that. but i do believe we are headed towards the highs of 1600
  • #22
  • Aug 13, 2011 9:47am Aug 13, 2011 9:47am
We're really expecting a step backward?.....
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  • #23
  • Aug 14, 2011 5:45pm Aug 14, 2011 5:45pm
Hey guyz we are in for another exciting weekend hopefully .

Technically gold is still in this bear channel but there is a head n shouldar formation in 30 min or lesser time frames neckline according to my charts is 1730 note no 30 min or hourly candle has closed below this Level .Nothing much in news this week short term trend still Fully Bearish but its Monday so expect a little strange moves (low liquidity).

Please share your views
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MMMYYYKKK
  • #24
  • Aug 14, 2011 5:47pm Aug 14, 2011 5:47pm
Quoting Cj Trader
We're really expecting a step backward?.....
Yup friend we are .
MMMYYYKKK
  • #25
  • Aug 14, 2011 7:09pm Aug 14, 2011 7:09pm
Should find support between 1726-1723 if not above will look to enter short again at 1740 ~
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MMMYYYKKK
  • #26
  • Aug 14, 2011 10:22pm Aug 14, 2011 10:22pm
Great thread, thanks.

Hopefullybthis gold thread will be less contaminated with ego, forks and kings of the planet.
  • #27
  • Aug 14, 2011 11:56pm Aug 14, 2011 11:56pm
Quoting Fmfx
Great thread, thanks.

Hopefullybthis gold thread will be less contaminated with ego, forks and kings of the planet.
Thanks
MMMYYYKKK
  • #28
  • Aug 15, 2011 12:06am Aug 15, 2011 12:06am
Gold Going no where Has moved out of its channel . Will take 10-12 hours to develop a new channel. Which i think would be downward sloping too currently this bold blue line is temp resistance.

For SILVER ITS CLEARLY CAUGHT UP IN THIS TRIANGLE WHICH EVER WAY IT BREAKS EXPECT HUGE MOVES AS THE BASe OF THE TRIANGLE IS TOO BIG (4$ up or down)
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MMMYYYKKK
  • #29
  • Aug 15, 2011 2:09am Aug 15, 2011 2:09am
Thanks for the charts Myk. Gold usually find its direction by Tuesdays where the trading finds some momentum.

P.S. I still can't believe the freedom we have in this GOLD thread. Thanks again
  • #30
  • Aug 15, 2011 9:33am Aug 15, 2011 9:33am
Gold is currently caught up in this channel next Support at 1722-25 next resistance at 1744~

Possible signal is Short at 1742 (current price )
stop loss 1746
Take profit 1735 IF IT BREAKS 1726 IF IT BREAKS 1705
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MMMYYYKKK
  • #31
  • Aug 15, 2011 10:15am Aug 15, 2011 10:15am
Quoting Fmfx
Thanks for the charts Myk. Gold usually find its direction by Tuesdays where the trading finds some momentum.

P.S. I still can't believe the freedom we have in this GOLD thread. Thanks again
yup friend not much movement today plus its french and Italian bank holiday z so not expecting huge moves
MMMYYYKKK
  • #32
  • Aug 15, 2011 8:23pm Aug 15, 2011 8:23pm
SHORT OPENED 1763.70
MMMYYYKKK
  • #33
  • Aug 15, 2011 8:34pm Aug 15, 2011 8:34pm
Usually this happens on Monday price increased with very low volumes i expect a pull back tho it might keep making hills . HEAVY AND FINAL RESISTANCE AREA IS 1767-1779 {GREY AREA} .Alot of resistances here so i expect the prices to move down otherwise we may see a new high.
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MMMYYYKKK
  • #34
  • Aug 15, 2011 8:42pm Aug 15, 2011 8:42pm
GUYZ PLEASE PARTICIPATE I WOULD LIKE YOUR OPINION TOO
MMMYYYKKK
  • #35
  • Aug 15, 2011 10:44pm Aug 15, 2011 10:44pm
From now on i will make a pip count As-well Currently this forum is plus +20 pips

1$ = 1 pip

current position 20 lots @ 1763.7 Short
MMMYYYKKK
  • #36
  • Aug 16, 2011 1:45am Aug 16, 2011 1:45am
Can i know any movement on gold will affect any pair of currencies?
  • #37
  • Aug 16, 2011 2:56am Aug 16, 2011 2:56am
Quoting ehcydotcom
Can i know any movement on gold will affect any pair of currencies?
Not exactly but obviously gold and us dollar are directly correlated in the longer frame if gold moves up dollar moves down thus effecting usd crosses
MMMYYYKKK
  • #38
  • Aug 16, 2011 2:56am Aug 16, 2011 2:56am
Holding my shorts stop loss 1780
MMMYYYKKK
  • #39
  • Aug 16, 2011 3:38am Aug 16, 2011 3:38am
I still think these moves are fake they are with extremely low volumes i dont see any reason yet for gold to get bullish
MMMYYYKKK
  • #40
  • Aug 16, 2011 4:35am Aug 16, 2011 4:35am
gold 1767 broken , wonder where it goes next .. its uncertain
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