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XAU/USD Spot Gold

  • #921
  • Sep 9, 2011 9:56am Sep 9, 2011 9:56am
http://i52.tinypic.com/2z5uoa8.gif

looks like a diamond top formation. not sure if i plotted it correctly
  • #922
  • Sep 9, 2011 9:59am Sep 9, 2011 9:59am
Quoting selcuklu
possible triangle living ... second alternative flat scenario is living too ....

http://i56.tinypic.com/2d792xh.png
Quoting selcuklu
here is 1 min chart and minor possibilty of triangle scenario ....

http://i51.tinypic.com/2vweqhj.png
todays last chart ... good luck to everyone ..

http://i52.tinypic.com/1zl3uvp.png
  • #923
  • Sep 9, 2011 4:30pm Sep 9, 2011 4:30pm
Come on - 1 minute EW charts.
  • #924
  • Sep 10, 2011 9:17am Sep 10, 2011 9:17am
Gold – Bias (W1): Bullish; Bias (D1): Uncertain

http://lcchong.files.wordpress.com/2...ng?w=877&h=397

http://lcchong.files.wordpress.com/2...ng?w=877&h=396
  • #925
  • Edited 4:10am Sep 11, 2011 3:47am | Edited 4:10am
Quoting XTrade
My apologies as well to this thread and its readers,
Jade Gate would be wise to do the same.
Frankly, Jade couldn't give a stuff about the boys fighting or about threads in FF (this place being akin to amateur hour in full flight). Too busy making money trading both directions and keeping the focus on my own game. The only thing of interest to me is the charts.

So here's one to wrap your cerebral matter around, and a few thoughts.

1. Higher time frames always rule the PA. The resistance on the 161.8 fib extension (monthly chart) around 1915 is clearly evident. Wicks are forming - by the end of the month, the current candle could finish as an equivalent sized bear to match the bull of the previous month, leading to prolonged south traffic. The gap @ 1661 is yet to be filled.

2. EUR/USD has a bull flag, currently at the bottom of the channel. EUR/AUD is close to a triple bottom. Look for extensive consolidation to hold at these levels, if not brace for more south and gold going north as Europe continues to panic about the Euro.

3. Gold took a sudden and deep spike south from 1885 to 1825 in the space of 15 minutes (market smiled on my 1885 shorts, booked @ 1830). At the same time, USD/JPY was spiking north - the importance of this relationship (between UJ and Gold) should not be taken lightly. UJ has always been the barometer of risk appetite, UJ goes up = risk on (gold sells off), UJ goes down - risk off (gold goes up). Pay attention to this PA on UJ.

4. Learn to ignore the noise of other trader's opinions, just play your own game and let the rest slide, it really doesn't matter one iota.

(OK so now I'm asking myself why I bother, good question)
Attached Image
  • #926
  • Sep 11, 2011 6:16pm Sep 11, 2011 6:16pm
Quoting Jade Gate
Frankly, Jade couldn't give a stuff about the boys fighting or about threads in FF (this place being akin to amateur hour in full flight). Too busy making money trading both directions and keeping the focus on my own game. The only thing of interest to me is the charts.

So here's one to wrap your cerebral matter around, and a few thoughts.

1. Higher time frames always rule the PA. The resistance on the 161.8 fib extension (monthly chart) around 1915 is clearly evident. Wicks are forming - by the end of the month, the current candle could...
Agreed 100% Jade.

Glad you do not fall for his traps. He seems to be a big fan of censorship

Good luck with your trades
  • #927
  • Sep 12, 2011 6:39am Sep 12, 2011 6:39am
Quoting Jade Gate
Frankly, Jade couldn't give a stuff about the boys fighting or about threads in FF (this place being akin to amateur hour in full flight). Too busy making money trading both directions and keeping the focus on my own game. The only thing of interest to me is the charts.

So here's one to wrap your cerebral matter around, and a few thoughts.

1. Higher time frames always rule the PA. The resistance on the 161.8 fib extension (monthly chart) around 1915 is clearly evident. Wicks are forming - by the end of the month, the current candle could finish...


at last someone with some sense....
  • #928
  • Sep 12, 2011 1:20pm Sep 12, 2011 1:20pm
It seems more south are in the works. Silver already below 40...
  • #929
  • Sep 13, 2011 3:15am Sep 13, 2011 3:15am
Quoting Fmfx
It seems more south are in the works. Silver already below 40...
Yep, down $30 to 1800...
  • #930
  • Sep 13, 2011 4:29am Sep 13, 2011 4:29am
my buy area is at 1786.2 - 1794 somehow at 38.2 Fibo and recent support, and of course rising trendline.

http://4.bp.blogspot.com/--VWmZm3-fm...buy+option.png
  • #931
  • Sep 13, 2011 6:31am Sep 13, 2011 6:31am
yep I am in that area for a buy too.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture-gold.JPG Size: 139 KB
  • #932
  • Sep 15, 2011 6:55am Sep 15, 2011 6:55am
[quote=suirad;4950351]my buy area is at 1786.2 - 1794 somehow at 38.2 Fibo and recent support, and of course rising trendline.

My shorts played out very well, slowly but surely. I am now eyeing for a buy target within your range (1792ish to be specific). I am also watching the daily close.
  • #933
  • Sep 15, 2011 10:43am Sep 15, 2011 10:43am
Hope no one entered long who were thinking about it.
  • #934
  • Sep 15, 2011 10:59am Sep 15, 2011 10:59am
[quote=SunTrader;4958540]Hope no one entered long who were thinking about it.[/QUOTE

I also decided to wait on the sidelines seeing how it blasted past 1792. I've caught a falling knife before and don't wanna catch another one. Waiting to see what happens if we hit 1770ish.
  • #935
  • Sep 15, 2011 11:29am Sep 15, 2011 11:29am
Quoting Tsotsi
....... Waiting to see what happens if we hit 1770ish.
I'm looking for 1764.40 - 1767.90 fib-related pivots.
  • #936
  • Sep 15, 2011 11:41am Sep 15, 2011 11:41am
i want 1770 level now
ROBOT FOREX
  • #937
  • Sep 15, 2011 12:44pm Sep 15, 2011 12:44pm
This thread was almost static with no replies for 48 hours and when RED on GOLD started, it became active again.

Can we call it the GOLD BEARS Thread and the other the GOLD BULL thread?
The Black Swan: The Impact of the Highly Improbable
  • #938
  • Sep 15, 2011 8:15pm Sep 15, 2011 8:15pm
Quoting MapleLeaf
This thread was almost static with no replies for 48 hours and when RED on GOLD started, it became active again.

Can we call it the GOLD BEARS Thread and the other the GOLD BULL thread?
Good observation. It actually goes to show

1) people on this thread are a bit more realistic about gold which is like everything else when considered on a daily trading basis (e.g. goes both up and down)

2) the idea of gold price going down, even for a couple of bucks is such a TABOO in the other thread that gets peopl espooked even thinking about it.
  • #939
  • Sep 15, 2011 8:23pm Sep 15, 2011 8:23pm
I dont know about 1500 but we might very well see 1650-1700 again mostly because the rise was too sharp. Next Tuesday the next sharp fall will come with another due for next NFP. There will be no QE and USD will pick up. 1920 will be the top for gold for foreseeable future.
  • #940
  • Sep 15, 2011 9:21pm Sep 15, 2011 9:21pm
Quoting Fmfx
I dont know about 1500 but we might very well see 1650-1700 again mostly because the rise was too sharp. Next Tuesday the next sharp fall will come with another due for next NFP. There will be no QE and USD will pick up. 1920 will be the top for gold for foreseeable future.
Going to quote you on this prediction.

I'm not sure about some of the insults (above) against an entire forum thread, but rest assured that anyone with experience knows that price action goes both up and down.

Wealthy people in a lot of countries without stable currencies (inflation is extremely high in the majority of countries) have bought into gold in growing numbers. My opinion is that once price reaches a certain level in correction, large-scale buying will continue, and more speculative spikes await. As the US dollar is gradually less important to global trading blocks (China/Brazil/Russia), wealthy people in these countries will be less concerned about the value of gold in US dollars, whether or not banker manipulation is affecting the price.

To be fair to all of the apparent zealots on the other thread, a broad variety of analysts are calling for higher gold prices this year (2000-2500). I still think 1920 will be broken before the year's end, but am a bit more conservative with 1980.
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