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  • #761
  • Aug 26, 2011 9:46am Aug 26, 2011 9:46am
Quoting whatfx
I was right as per my post 755 . Gold did go up !
Now i regret for not buying at 1702 :'(
  • #762
  • Aug 26, 2011 11:24am Aug 26, 2011 11:24am
Quoting pragur7
Now i regret for not buying at 1702 :'(
Don't. Wait for the weaken open. We might see a big gap down. There will be no QE and it seems more people are yet to lose money on gold buying euphoria.

Wait until early next week.
  • #763
  • Aug 26, 2011 12:35pm Aug 26, 2011 12:35pm
Quoting Fmfx
Don't. Wait for the weaken open. We might see a big gap down. There will be no QE and it seems more people are yet to lose money on gold buying euphoria.

Wait until early next week.
wow thanks for your kind suggestion .. :-) I will it that way .
  • #764
  • Aug 27, 2011 5:51am Aug 27, 2011 5:51am
Quoting Fmfx
Don't. Wait for the weaken open. We might see a big gap down. There will be no QE and it seems more people are yet to lose money on gold buying euphoria.

Wait until early next week.

well, gold has nearly gone up 100 pips since my buy prediction two days ago.

you guys still wanna wait ? should have bought at that time....
  • #765
  • Aug 27, 2011 7:37am Aug 27, 2011 7:37am
waiting for gold to touch 1600 before i could buy again.. it's hard to believe it will dip any lower than that.. next week, we'll see about that..
  • #766
  • Aug 27, 2011 9:05am Aug 27, 2011 9:05am
Good Thread, thank you all for sharing

CME Group has invreased the Margins for Gold Contracts - this might have caused the Drop?

About a potential QE3

CNBC.com | August 25, 2011 | 05:49 PM EDT

A third round of quantitative easing by the Federal Reserve is coming by year end, influential economist Nouriel Roubini told CNBC Thursday.

"The reality is we’re heading toward recession, and one of the few policy bullets [the Federal Reserve] has left is monetary policy or QE3," Roubini said.

Roubini, also known as "Dr. Doom," puts the chance of a double-dip recession at 50 percent.

He said whether or not Federal Reserve head Ben Bernanke announces another round of quantitative easing Friday doesn't matter, it will be a reality later this year.

He noted that during the last Federal Open Market Committee meeting the Fed "discussed wide range of other options if the economy weakens" and further weak data could "be the trigger" for the Fed to take action at its next meeting Sept. 20.

While bad economic data on housing, jobs and home sales suggests a double-dip in the U.S., Ireland, Portugal, Italy and Spain "are already back in recession or never got out of the first one." Data also suggest France and Germany are in “borderline contraction” while the U.K. "has not had any economic growth for three quarters."

He agrees with President Obama that what the U.S. needs in the short term is further fiscal stimulus and medium-term austerity. However, when Obama speaks on Sept. 5 on his job program "he can make any speech he wants, I don’t see any chance of this Congress going to pass whatever he proposes" in an election year when "the worse the economy gets, the more likely Obama is going to lose the election and Republicans will be winning."

He's advising clients to take a "very defensive" approach toward equities and toward commodities.

"It's better to be safe rather than sorry and this year cash is going to be king," he said. "Therefore we would stay away from a wide range of risky assets. Cash gives you zero return but that’s better than losing 20 percent or 30 percent in the stock market. Treasury bonds are at 2 percent, but they could go toward 1 percent in a recession......

By the Way:

I just wonder - when Japan floats the Markets with Trillions of Yen - nobody mention it as a Kind of QE
  • #767
  • Aug 27, 2011 2:29pm Aug 27, 2011 2:29pm
Quoting whatfx
well, gold has nearly gone up 100 pips since my buy prediction two days ago.

you guys still wanna wait ? should have bought at that time....
Good for you but I would rather wait. We might be experience lower highs in longer time frames. i.e., 1910' 1850, 1770 before a dropm to 1650 area.
  • #768
  • Aug 27, 2011 9:15pm Aug 27, 2011 9:15pm
I see in the daily Chart a strong Support around 1700 and 1750

http://s7.directupload.net/images/110828/lbm6kkue.jpg
  • #769
  • Aug 27, 2011 9:53pm Aug 27, 2011 9:53pm
BTW - does anybody see the 2 Margin Shocks, as CME has increased the Margin for Goldfutures 2 Times this Month?

http://s7.directupload.net/images/110828/lbm6kkue.jpg
  • #770
  • Aug 27, 2011 9:54pm Aug 27, 2011 9:54pm
Sorry, wrong Chart

http://s7.directupload.net/images/110828/hzgh8326.gif
  • #771
  • Aug 27, 2011 10:09pm Aug 27, 2011 10:09pm
Quoting The Oracle
waiting for gold to touch 1600 before i could buy again.. it's hard to believe it will dip any lower than that.. next week, we'll see about that..
It would be great if it touches 1600.... if it does i will sure buy gold and lots of it :-)
  • #772
  • Aug 28, 2011 5:16pm Aug 28, 2011 5:16pm
Quoting pragur7
It would be great if it touches 1600.... if it does i will sure buy gold and lots of it :-)
buy as much as you can for we probably won't see this price ever in our lifetime..
  • #773
  • Aug 28, 2011 8:30pm Aug 28, 2011 8:30pm
What makes you think we will go to 1600? Just wondering..

I don't see 1600... maybe the 1700 area again, if ever.. But 1600? Where do you see that? Can you explain in detail?

And I understand you mean "1600", the round number area (1590 to 1610)... and not 1650 or 1680...
The Black Swan: The Impact of the Highly Improbable
  • #774
  • Aug 28, 2011 10:29pm Aug 28, 2011 10:29pm
Quoting MapleLeaf
What makes you think we will go to 1600? Just wondering..

I don't see 1600... maybe the 1700 area again, if ever.. But 1600? Where do you see that? Can you explain in detail?

And I understand you mean "1600", the round number area (1590 to 1610)... and not 1650 or 1680...
hey i said only if it goes i am gona buy them - I am not suggesting . it's my own plan.
It may reach due market crash
  • #775
  • Aug 29, 2011 2:25am Aug 29, 2011 2:25am
Quoting MapleLeaf
What makes you think we will go to 1600? Just wondering..

I don't see 1600... maybe the 1700 area again, if ever.. But 1600? Where do you see that? Can you explain in detail?

And I understand you mean "1600", the round number area (1590 to 1610)... and not 1650 or 1680...
no one is saying it will touch 1600 but recent rallies technically started around 1580-1600. it makes sense to me current price could drop back to where it started (or probably 1700++, no one can say for sure) before heading towards 2000, effectively making 1580-1600 a new support for this leg up

as we probably won't see gold below 2000 ever starting 2012, it's now searching for the best support to take it there, never look back..
  • #776
  • Aug 29, 2011 2:45am Aug 29, 2011 2:45am
Gann S9 says me that Gold will make turn point at 30.08.11, so probably tomorrow. Now we can see 61.8% retracement from previous decline, so while talking about waves all we need now to see next one decline - is just few more candles. In Flats and Zigzags wave-b cannot be shorter (in time) than wave-a, so on H4 chart we need 3 more candles to wave-b be same (in time) as wave-a. There is a good short opportunity right now, with stop 1855. Good target should be price around 1625.

P.S. Beware, Gold STILL HAVE potential to rise higher than 2000$/oz, next time i will explain why.
  • #777
  • Aug 29, 2011 11:41am Aug 29, 2011 11:41am
Quoting The Oracle
no one is saying it will touch 1600 but recent rallies technically started around 1580-1600. it makes sense to me current price could drop back to where it started (or probably 1700++, no one can say for sure) before heading towards 2000, effectively making 1580-1600 a new support for this leg up

as we probably won't see gold below 2000 ever starting 2012, it's now searching for the best support to take it there, never look back..
do you think gold bearsih will be come?
  • #778
  • Aug 29, 2011 12:33pm Aug 29, 2011 12:33pm
As expected, since gold has become bearish the other, censored gold thread is empty of UP, UP, UP people and mostly newbies who are scared of another big drop post.

I think it really shows how it works there: when gold goes up, show up and say: I expected this! My forks and spoons told me! I told ya all! Gold is bullish! Gold price never goes down!

Personally I would not bank a cent on those people and their charts. We have all seen how it has worked in recent days...
  • #779
  • Aug 29, 2011 12:39pm Aug 29, 2011 12:39pm
Quoting djdon
do you think gold bearsih will be come?
short-term bears on the way..

when it stops, long-term bull will take us to another level --> 2000
  • #780
  • Aug 29, 2011 12:45pm Aug 29, 2011 12:45pm
Quoting Fmfx
As expected, since gold has become bearish the other, censored gold thread is empty of UP, UP, UP people and mostly newbies who are scared of another big drop post.

I think it really shows how it works there: when gold goes up, show up and say: I expected this! My forks and spoons told me! I told ya all! Gold is bullish! Gold price never goes down!

Personally I would not bank a cent on those people and their charts. We have all seen how it has worked in recent days...
Haha! Bitter man. No son, the problem is you don't understand the difference between 'trend' and 'direction'. The trend can be UP while the direction can be 'DOWN'. This is what confuses you. The TREND in gold is up, but the current direction is down. IF the BULL is still in tact the direction of gold will continue with the trend i.e. UP after the correction.

Yes, there is a point when the up trend will change to a down trend, but we are not there yet. I know you jizz your pants every time gold corrects, but chill out man.
Don't wish it were easier, wish you were better. ~ Jim Rohn
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