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  • #12,401
  • Oct 23, 2011 10:47pm Oct 23, 2011 10:47pm
Quoting SunTrader
Some have a problem with this, it seems.
then i would say that's their problem
  • #12,402
  • Oct 23, 2011 11:05pm Oct 23, 2011 11:05pm
Quoting CathS
I guess I use the "conspiracy theorist" term a bit loosely, but rest assured I am with you and share your frustrations. (a more correct term would be "realists"!!). I could write a whole thread on my 9/11 views that would definitaly have me labelled here in Adelaide as crazy!!

Cheers, Cath. I try to ignore most political commentary that doesn't even feign balance.

The common knowledge that Al Qaeda was created by the CIA (not even a conspiracy theory) should warrant a bit more skepticism.
  • #12,403
  • Oct 23, 2011 11:36pm Oct 23, 2011 11:36pm
Quoting Wheels
Cheers, Cath. I try to ignore most political commentary that doesn't even feign balance.

The common knowledge that Al Qaeda was created by the CIA (not even a conspiracy theory) should warrant a bit more skepticism.
Exactly!!
  • #12,404
  • Oct 24, 2011 12:07am Oct 24, 2011 12:07am
Should I go long at this level in gold and till what level can i sell it.
  • #12,405
  • Oct 24, 2011 3:53am Oct 24, 2011 3:53am
Many traders use sma200... On H1 TF, price is respecting that, recently - to the pip. First it was support, after breach down becames resistance, today resistance again. In bullish scenario, I would like this to became support again, among other things.
Attached Image (click to enlarge)
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  • #12,406
  • Edited 5:02am Oct 24, 2011 4:35am | Edited 5:02am
Quoting karan_lobana
Should I go long at this level in gold and till what level can i sell it.
I would proceed with caution... in fact if you are so unsure that you have to ask.... maybe you should hold fire until you have a firmer idea yourself... research...and then do some more research.. I doubt many here would be inclined to advise you if now is a good time to enter the market or not.. people will post trade ideas, and their opinions, which you can of course read and take what you can from it..

Personally I have exited all cash from Gold (apart from what I hold in phys) for now apart from a few small positions- I feel better waiting for a direction to show itself, and for some further news out of the Eurozone... I personally think that gold is set to rise, but not before it goes down first.... it is possible to rally from here, but I am of the opinion that we will perhaps see a rally in the USD (DXY/IND) as the dollar gains on perception of it being the best pick of a bad bunch of currencies.. and what with the Eurozone woes... I can imagine a dollar spike which could in short term hurt gold prices...even though USD should actually be testing its support now.. but for now things appear to be turned onto their heads, IF and how far the USD rallies, and Gold falls and over what time frame is harder to call... from what I can see the COT reports for GOLD are bullish, and covering their shorts, so the commercials/big sdpeculators are of the opinion gold will rise (though they have been somewhat misleading recently- makes you wonder what game is being played) which gives me the opinion that we could dip first , then go up... that being said people still seem to be interested in the Euro, even the commercials, (EURO FX COT) and so this seems to indicate that they are expecting a resolution of the Eurozone crisis soon.. assuming there is a "resolution" (QE QE kick the can down the road) that would probably mean Euro up, USD down, Risk appetite back on (short term) some of the funds would head back into equities. And some maybe into gold.

For now keeping an eye on Euro, Dollar..

At some point soon I imagine that we will have risk aversion back on, it would not take much in the current climate, seriously we are one really bad piece of news away from a full on herd panic imho, and if the bad news is dollar adverse, then at that point I envisage that not the USD, EURO nor treasuries, nor the CHF or the JPY will fit the bill in terms of "safe haven" and the stock market would be amongst the first to be hit, so the question is... at that point would cash be king? or would gold get its chance... to shine.
  • #12,407
  • Oct 24, 2011 5:56am Oct 24, 2011 5:56am
Quote
I feel better waiting for a direction to show itself, and for some further news out of the Eurozone... I personally think that gold is set to rise, but not before it goes down first.... it is possible to rally from here

Exactly how i feel ! if it wasn't the real world demand (Indian season) it may have gone down to $ 1200 - 1000 already, but as a matter of fact the demand exists which makes my 2nd desire of seeing gold at 1400 makes it next to impossible, 1500 maybe, but then again who knows?
  • #12,408
  • Oct 24, 2011 6:13am Oct 24, 2011 6:13am
Quoting Chika Kure
Many traders use sma200....
Purely coincidental. 200 sma on daily is what is most often watched. Even then PA does what it wants. Not becuase of a line. But if you find it helpful go to it.
  • #12,409
  • Oct 24, 2011 6:18am Oct 24, 2011 6:18am
Quoting forexfacts
Exactly how i feel ! if it wasn't the real world demand (Indian season) it may have gone down to $ 1200 - 1000 already, but as a matter of fact the demand exists which makes my 2nd desire of seeing gold at 1400 makes it next to impossible, 1500 maybe, but then again who knows?
I know India is a largest consumer of Gold but I think here scenario is something different.
when price was 1550 corresponding INR price was somewhere around 25500 but at that time Indian Jewellers were selling physical gold at 27500.
they didn't dropped the price.
today is the main festival on which buying gold is considered as good but no sudden PA price is moving between 20$ region
  • #12,410
  • Oct 24, 2011 6:41am Oct 24, 2011 6:41am
http://harveyorgan.blogspot.com/

I found the latest entry on here to be very interesting....both for Gold and Silver, I would be interested to share and get peoples opinions...
  • #12,411
  • Oct 24, 2011 6:53am Oct 24, 2011 6:53am
I'm bullish looking for 1700 this week with roadblocks at 1660/65 (almost there), then 1680 (That *^%^! fib level). Can't post charts form woek but if that ascending channel is still working then last Thursday's pin bar was the bounce and it's about 1/2 way up to the UTL which I make at >1700, about 1715/20ish.

That's my technical view, fundamentally we've got all these rumours, leaked documents, and other kinds of stuff to deal with until Wednesday when I'm confident they will kick the can again or defer to another meeting for the "solution"..

I'm long but not holding anything long term, going to pump/dump/reload/rinse/repeat at the above levels if it plays out in the channel up to the UTL.
Anything can happen.
  • #12,412
  • Oct 24, 2011 7:26am Oct 24, 2011 7:26am
Quoting dogbreath
looking for an entry on the 5min chart right now.

Retrace to
38.2
50.0
61.8

Will take a small position if it is prior to us open.

did not drop at open...will wait for a bounce off 1650....if it continues up.

buy opened at 1645
closed at 1650.70
Life's a bitch....so be a dog and cover it!
  • #12,413
  • Oct 24, 2011 7:36am Oct 24, 2011 7:36am
Attached Image (click to enlarge)
Click to Enlarge Name: gold4h.jpg Size: 150 KB


The 4 hr chart is being confirmed here. Laguerre is just breaking .75 so plenty of room to move higher this session it seems. Arrows on the chart are EMA crossovers.
  • #12,414
  • Oct 24, 2011 7:42am Oct 24, 2011 7:42am
Quoting Wheels
Cheers, Cath. I try to ignore most political commentary that doesn't even feign balance.

The common knowledge that Al Qaeda was created by the CIA (not even a conspiracy theory) should warrant a bit more skepticism.
Life's a bitch....so be a dog and cover it!
  • #12,415
  • Oct 24, 2011 7:42am Oct 24, 2011 7:42am
Quoting CathS
Exactly!!
Life's a bitch....so be a dog and cover it!
  • #12,416
  • Oct 24, 2011 7:47am Oct 24, 2011 7:47am
Quoting Goldmansacks
I would proceed with caution... in fact if you are so unsure that you have to ask.... maybe you should hold fire until you have a firmer idea yourself... research...and then do some more research.. I doubt many here would be inclined to advise you if now is a good time to enter the market or not.. people will post trade ideas, and their opinions, which you can of course read and take what you can from it..

Personally I have exited all cash from Gold (apart from what I hold in phys) for now apart from a few small positions- I feel better waiting...
Life's a bitch....so be a dog and cover it!
  • #12,417
  • Oct 24, 2011 11:11am Oct 24, 2011 11:11am
I smell bear in 1649.78

Not perfect setup,but I will try
Attached Image (click to enlarge)
Click to Enlarge Name: gold bears.gif Size: 20 KB
Attached Image
  • #12,418
  • Oct 24, 2011 2:09pm Oct 24, 2011 2:09pm
Excellent article by J. W. Jones

As Eurozone Steers Silver and Gold, Watch the US Dollar

http://www.minyanville.com/businessm.../2011/id/37536

http://image.minyanville.com/assets/...1/JWchart3.JPG

http://image.minyanville.com/assets/...1/JWchart4.JPG
  • #12,419
  • Oct 24, 2011 2:19pm Oct 24, 2011 2:19pm
Quoting KinG-Solomon
Excellent article by J. W. Jones

As Eurozone Steers Silver and Gold, Watch the US Dollar
Ahhh that is just propaganda that "they" want you to believe.

Kidding.
  • #12,420
  • Oct 24, 2011 3:04pm Oct 24, 2011 3:04pm
They pump out so much crap these days about why gold does what and trying to tie it to another fiat currency or government.

est way is to realize gold has taken on a life of it;s own, irrespective of many facets near and far, play the charts and the underlying fundies - no correlations. maybe a slight with silver. and you will come out on top.
Quoting SunTrader
Ahhh that is just propaganda that "they" want you to believe.

Kidding.
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