Daily GOLD

My major problem is to trade big lot!

Im here to make money....but if i alway trade big lot i know
that i will get bite...hard!

While im typing im looking at gold and seem to go up pretty well
right now...

For curious people who would like to see my trading chart setup...

HERE he is....

http://www.dvdripmu.com/setup.jpg

Im using an indicators that tell me long/short signal and when
its not in sideways...its very accurate.

If you want it...PM me.

Can every body say with witch broker trad ?

Im trading using AVAFX. Im very satisfied until now and my account manager
do a very great job. He send me important news and tips by email and when
we are not in contact for a couple of day...he sends me an email just to take
some news!

Hi Everyone.

Im trying to learn the trading patterns and i think i found
a Triangle in 15Min chart.

(And dont laugh at me! haha Im new in the trading market and i try to figure out the maximum information i can!)

I will appreciate your comments, what you think of this patterns and how usefull patterns are in your trading?

****i deleted the image because its failed pattern*****

Cheers!

PS: Donny_1986. Do you mind if i post some trading results i get and some charts like this one ? It will always be concerning gold.

ur pattern is failed
in trieangle, most prise exite from the 1/4 of neck of triangel
dont use m15 chart
use m1 and m5 ass short analyse and m4 ass long trend

Haha i love your first sentence...
""YOUR PATTERN IS FAILED!""

Thank you for the tips. Do you use patterns to trade ?

INDICATOR VALUE
STOCH (14) ↓ 73.28 correction strong
RSI (14) ↓ 54.29 bearish trend
MACD (9) ↓ 43.98 down strong
PAR SAR (9) ↑ 1726.60
EMA (20) ↑ 1833.14
EMA (50) ↑ 1816.96

RANGE 1850.00 – 1880.00
Support Resistance
1 1830.00 1900.00
2 1800.00 1920.00 today range 1

------------ S2 S1 Pivot Point R1 R2------------
1740.93 1779.21 1829.88 1868.16 1918.83

i assume today still correction trend but anytime it can be small up after correction
if gold today stay in area 1838-1846 sinyal up to gold R1 and R2
if gold today stay in area 1810-1805 sinyal down for gold to S1 and target S2

FIBONACCI VALUE
0.0% 1307.45
50.0% 1441.38
61.8% 1472.98
100.0% 1575.30
161.8% 1740.83 target correction
261.8% 2008.68

Weakening of prices that occurred yesterday at the session is expected due to factors
take-a-breather (the term quiet phase after a long rally). This is
effects are common, especially for gold. Nevertheless, gold has been
managed to record his new record highs after passing through the correction phase
sharply at 2 weeks ago.
* The target is the level of correction that enables the 1800s, and extreme
levels of the 1700s. However, gold has been able to read the charactersincluding the ability
to cover the cumulative correction is achieved.

news
Soaring gold prices fail to lift plight of China’s miners - Vancouver Sun, Sep 7 2011 7:01PM
Barrick strikes "significant'' discoveries in Nevada - Vancouver Sun, Sep 7 2011 6:50PM
Gold fell by Rs 680 to close at Rs 27,490 - Moneycontrol.com, Sep 7 2011 6:50PM
Is the Swiss Franc to Euro Peg Bullish for Gold? - by Eric McWhinnie , Sep 7 2011 10:22AM

Gold Loses Some Luster From German Court Ruling; Analysts Expect Shine To Return
07 September 2011, 12:44 p.m.
By Allen Sykora



Strength in equities and a German court ruling that lets the country take part in European bailouts have lessened the need for gold as a safe haven, at least temporarily, and prompted selling to exit positions in which traders previously bought.
Still, as during past pullbacks in a long-running bull market in gold, analysts look for investors to use the retreat as a buying opportunity since sovereign-debt problems have not been cured and the U.S. economy remains anemic.
As of 12:27 p.m. EDT, December gold was $53.70, or 2.9%, lower at $1,819.60 an ounce on the Comex division of the New York Mercantile Exchange. The tumble comes one day after it hit a most-active-contract record high of $1,923.70.
Any uptick in sentiment for the euro zone can detract from any safety flight into gold in the short term, said Adam Klopfenstein, senior market strategist with MF Global. And, several analysts said, this is just what occurred when Germany’s high court upheld the country’s participation in past bailout efforts for some European nations and establishment of the European Financial Stability Facility, although the ruling also said future bailouts require parliamentary approval.
“There had been a fear the court might rule otherwise. So you have higher equity markets, with Europe very strong and markets here very strong,” said Bill O’Neill, one of the principals with LOGIC Advisors.
The Dow Jones Industrial Average was around 200 points higher.
Frank Lesh, analyst with FuturePath Trading, also cited the German court ruling, but added that a technical-chart influence was gold’s inability to keep pushing upward when it hit its most recent record high early Tuesday. “It was a signal to people to take some profits,” he said.
Then on the retreat, the move accelerated when sell stops were triggered to kick traders out of long positions, he said. Stops are pre-placed orders activated when certain chart points are hit, meant to help traders capture a profit or limit a loss.
“Gold has been an asset class with a lot of bullish themes. But it has been extended because of those bullish themes,” Klopfenstein said. “So the slightest change in posture in the thoughts of worldwide investors could cause major drops…When people want to jump out into the exit at the same time, it can cause these moves.”
Volatility in gold has clearly picked up, with the market in a range of roughly $1,705 to the $1,920s over the last two weeks, O’Neill said. This acts as a “warning sign” for more two-sided trade rather than a one-way trip higher, he said.
“That shows there are some traders who have taken a more cautionary approach, feeling that it’s gone up so much that it’s due for a significant setback,” O’Neill said.
Still, O’Neill looks for gold to remain in a longer-term uptrend and eventually top $2,000 an ounce.

ANALYSTS SAY BULL RUN NOT OVER

While gold could dip some more in the near term, other analysts also do not see the sharp retreat as the start of the end to the bull market.
“I think this will probably extend itself to the downside a bit more,” said Dave Meger, director of metals trading at Vision Financial Markets. “But on a larger scale, I still believe the overall fundamentals remain in place. I think there will be the need for safe-haven assets moving forward…Long term, nothing really has changed.”
Gold may have put in a temporary top, but $1,800-an-ounce metal technically “does not damage the structure of gold,” Lesh said.
“We’re still looking for higher prices,” Lesh said. “The world’s problems have not been solved. The fear of the European debt problems remains, and the fear of a weaker economy in the U.S. remains.”
Even thought there may have been a short-term alleviation of fears in the euro zone, the continent’s ongoing issues will not be fixed “by one or two meetings or bailouts,” Klopfenstein said. Meanwhile, investors continue to fret over whether the U.S. is teetering toward a double-dip recession.
“So I believe there will be pent-up buying demand that will re-emerge on these price breaks in gold,” Klopfenstein said. “People not (currently) in gold are licking their chops, hoping gold will go slightly lower so they can enter the market again.”
Lesh suggested the increased volatility lately has made gold a “trade” more than a “hold” for now, at least for futures.
“Having said that, I think people will let the market settle down. And when it looks like there is a base or we’ve found some support to the market, I would expect buyers to come back in,” he said.

Klopfenstein described the Swiss National Bank’s move on Tuesday, in an effort to cap Swiss franc strength against the euro, as ultimately supportive for gold whenever safe-haven buying does re-emerge.
“The fact they’re going to hold their currency at 1.20 (francs) to the euro removes one of the major flight-to-quality investment ideas,” Klopfenstein said. “If you take away the Swiss franc, that means more people have to focus on gold if they want to fly away from risk-based assets.”

Donny_1986,

Thank you for the daily prediction.

At what point will you take a position ?

I personnally thinking of opening a Short position around 1790$.

Suddenly gold moving very fast towards 1838..

But then drop a while..

From Donny indicators, it should go down.

Which one should I choose? This is pretty hard decision since gold can't be predicted at the moment..

But as Donny said, if stay 1838-1840ish area it can bullish to 1860ish.. hmm

that is yesterday i'm prediction
see now stay in this area

My first position of the day.

Im long at 1833.53.

My Daily R1 is still different than Donny_1986 R1. Mine is 1865.21.

Ill let you know the output of this position as soon as i
hopefulle cash in some money!

Cheers and Happy Trading!

SINGAPORE (Reuters) - Gold prices rebounded more than 1 percent on Thursday following a drop of 3 percent in the previous session, as sharply lower prices attracted bargain hunters, but improved risk appetite is likely to cap gains.

Spot gold rose as much as 1.5 percent to $1,842.89 an ounce after its most volatile day in two weeks, with a trading band of more than $80. It stood at $1,840.04 by 0152 GMT.

The most-active U.S. gold futures contract rose 1.6 percent to $1,846.6, before easing to $1,843.90.

"Some investors, speculators and physical buyers have shown a lot of buying interest at current prices, as they are much lower compared to a few days ago," said a dealer at a Tokyo-based bullion house.

Spot gold hit a record high of $1,920.3 on Tuesday.

The faith in gold's long-term bullish trend remained intact as concerns about global growth still run high, although the short term is likely to remain choppy.

"Concerns about economic growth in the United States and euro zone will keep supporting gold prices. Even though we may see liquidation repeatedly along the way, gold will rise towards $2,000," the dealer said.

Gold fell below $1,800 in the previous session, after risk appetite surged and investors abandoned the precious metal for the stock market, as Germany's top court rejected lawsuits aimed at blocking German participation in emergency loan packages, but gave its parliament more say in bailouts.

Adding to the risk appetite, Germany's industrial output jumped unexpectedly in July, offering hopes that Europe's largest economy may avoid recession.

The sharp price drop triggered a flood of buying on Asia's physical market, dealers said.

Investors will be watching a speech by U.S. President Barack Obama on job creation to Congress, after data showed the economy added no new jobs in August.

Holdings of SPDR Gold Trust and iShares Silver Trust remained unchanged.


SOURCE:
http://in.finance.yahoo.com/news/Gol...JvdW5kcw--?x=0

My positions is still running with a profit of 1087$. I watched a TV series
"Floored" and one of the trader say..."If you have a win...let it go! If you have a Win..BET MORE!"

Im going to bed without TP. (of course i have a stop)

I guess ill pray a bit just before i fall asleep! lol

Ill let you guys know the result tomorrow morning!

Peace and happy trading to all of you!

Hi dony 1986,

Just want to ask a simple question, about "Mr. Obama Speak"

what is the effect to gold..

cause everybody seems to talk a lot of that speach..

tq...

----------------------------------------------------------------------------
Shine with gold..

this is obama speak
President Barack Obama on Thursday U.S. time will reveal the package of job creation in an official speech at the U.S. Congress.

Obama's popularity has fallen by worries the U.S. economy that would lead to a crisis, relies heavily on the package. This package will be implemented in 2012 as a stronghold of the Democratic Party steps in reducing unemployment has reached 9.1%, which quoted from yahoofinance.com.

Some of the problems that became a staple in the package as income tax cuts that remove the potential for state revenue reached U.S. $ 112 billion. This policy has been passed in Desemper last year and will be continued next year.

Obama reveals macro economic adviser to the extension of income tax cuts, provide emergency unemployment benefits will increase employment around 600,000 in the next year.

The second principal is the spending of public works infrastructure to absorb the repair of highways and schools. This package is included in the stimulus package U.S. $ 800 billion, which was passed in 2009.

Efforts to prevent layoffs for teachers is also a packet of Obama by giving aid to the states. Expansion help for unemployed which will cost about U.S. $ 57 billion, including pelatuhan for long-term unemployment.

Obama expects to each spending an extra in the package will terseut can encourage increased employment.
-----------------------------
impact gold can be down and good for currency if the planing obama accomplished

i see gold is bargain hunting from open market gold and this is up sinyal from my prediction but i'm not sure this is really up whenever it can be down again. gold is not reach R1 it can be down to netral position in pivot. but if gold can reach R1 i assume that is really up for gold .so i'm still waiting next sinyal after launched. this is only good for short term
11:00am USD Crude Oil Inventories


-1.9M 5.3M
1:30pm USD Fed Chairman Bernanke Speaks
realy impact fed launched i assume gold can be down again ath 1:30 pm.
so becareful

hei, master..

i'm still confuse, if it's reach the r1.. is it the sign that the gold will not go down again? i have an open sell position @1843 how is it.. T_T

My Daily R1 is at 1865.21 and gold reached it.

Donny_1986, do you think the conditions give enough power
to bring it to R2 today ?

Thank you.