DislikedLooks like there is no stopping of this downward move 1700 maybe on its wayIgnored
- #961
- Sep 22, 2011 7:50am Sep 22, 2011 7:50am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #969
- Edited 12:13pm Sep 23, 2011 11:37am | Edited 12:13pm
Well, the support area at 1700 is TOO STRONG as Far as Im concerned.
There are billions of dollars in this game and I don't think the BULL fundies will let it break so easily.
But again, we can't predict the future and there are always the market makers out there. However, this area is too strong.
The same happens with 1900 and the Bearish fundies. Sure, since GOLD is BULLISH we all thought it would be easy to reach 2000. BUT, it will take a little more effort as we can see.
Same happening now to the downside until the majority of public or small players let go their longs which they bought $250 or so higher
- #972
- Sep 23, 2011 4:08pm Sep 23, 2011 4:08pm
- | Joined Oct 2008 | Status: Trader | 1,035 Posts
ROBOT FOREX
- #974
- Sep 23, 2011 7:27pm Sep 23, 2011 7:27pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #977
- Sep 24, 2011 3:56am Sep 24, 2011 3:56am
- | Commercial User | Joined Oct 2008 | 5,712 Posts
Funds and bulls have always been there. Gold has simply gone too high too fast and should give up some of the extra fat so the big money find it at a good price to buy again.
What we saw in the past few weeks was mostly fueled by retail buyers, public and newbes who thought gold will go up straight to 2000 in a few weeks and they would become rich quickly. Those are not who move the market. They are basically the ones who were brainwashed to buy at higher prices (1850-1900) and are now probably selling it cheaper a couple of hundred dollars lower...
..they dunno what is the real game mate...especially those some who have vouch and 10V+..they keep dreaming with their vouch n proud on that...for what? tought they dunno everythings....as a simple manner, chart could give some hint since 1850-1880 where i did shouting to watch carefull on long n am starting to re activate back my gold thread back. why? simple its the time for me to collect a huge money as well to let people to think back..what the heck keep buying gold at 1800-1900 area.....as this is what i read in a lot of public forum, blog as well as FF post....keep targeting 2000? oh my gold..nothing much to say, but they should have a good lesson and figure out why and how..otherwise they wont improve forever...
Still remember when i give some hint that gold going to crash for some big correction before that 2000 ~ 1-2 month ago?. In which price? 1850-1880..mm why that number ya...those who know the game will know this number...n now breaking 1680 n break 1660...but they still keep buying n hope for that 2000
...such a dreaming...still lough so hard when i read back this 2 muppet post..why? dun u?
- #978
- Sep 24, 2011 5:12am Sep 24, 2011 5:12am
Nobody can be sure about anything about the markets.
But given now everybody is telling the others to sell gold, like before when everybody was adding to longs during its silly, too fast too much rise, it sounds like the time to begin piling up gradually.
Price might fall another $50-100 but I am already thinking to add to my longs that I have been from 1300 at these levels. After all, we have seen 1930 and gold is almost 300 dollars cheaper. I pretty much stopped adding to my longs after gold passed 1700 and was waiting for a test of mid 1600....
If are long since 1300 on GOLD, why didn't you TAKE PROFIT at 1900 if you knew it was going to fall 300 bucks ?
The Black Swan: The Impact of the Highly Improbable
If are long since 1300 on GOLD, why didn't you TAKE PROFIT at 1900 if you knew it was going to fall 300 bucks ?
This is how most hedge funds and big money trade gold and what you observed in the past week, is the exact reason why trading gold short term is not their favorite and has a lots of danger. For example even after this Huge fall and blood bath, I am still 300 (from 1300 ish) 200 (from 1400 ish) and 100 (from 1500 ish) in PROFIT and am now thinking add now that everyone is scared of buying gold, I am thinking to add longs to my positions
I do take some profit from time to time from some small gold positions I add along the ride, but I prefer the currencies for short term trading. In other words threat these instruments for what they are: currencies for short term profit and gold for long term investment.
P.S. Nobody knew that it it would be a 300 drop or there is more coming but , but most people I know and trade gold professionally (some bankers) stopped butting when the price passed 1700 long time ago and now they are able to buy if they decide because the do ot have realized or floating losses from 1900 ish