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  • #19,321
  • Jun 15, 2012 1:11pm Jun 15, 2012 1:11pm
Maybe this is the reason

Quoting jsr
This thread is being "broadcasted" at twitter. @FSBTrading https://twitter.com/#!/FSBTrading.

So, please be polite we are On the Air.

Quoting beeb
The chart I posted in #19490 has suddenly had approximately 200 extra views...

I can only assume that somebody on this thread has posted the link elsewhere.

The chart has now been deleted.

I post charts here because I want to, in order to demonstrate my take on the markets.

I do not expect them to be copied elsewhere.

The person who has done so should note that if you want to share my charts with others, at the very least it would be polite to ask me
first. I would appreciate a pm from that person..........

beeb
  • #19,322
  • Jun 15, 2012 1:56pm Jun 15, 2012 1:56pm
Quoting musclemike
This is exactly why i think gold won't go down very soon lower than 1520lvl.




My beeb's got plagiated .
if you look closely 1520 is weekly demand and everytime demand area is visited it weakens it. see the reaction in marked rectangle
longer price stays in demand area more chances of breaking in next visit
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  • #19,323
  • Jun 15, 2012 5:34pm Jun 15, 2012 5:34pm
Quoting jaimini
if you look closely 1520 is weekly demand and everytime demand area is visited it weakens it. see the reaction in marked rectangle
longer price stays in demand area more chances of breaking in next visit

You might find it interesting to research the effect of the London physical market as well as sovereign interest and apparent shortages and delays in supply......

beeb
  • #19,324
  • Jun 16, 2012 8:13am Jun 16, 2012 8:13am
Quoting jaimini
if you look closely 1520 is weekly demand and everytime demand area is visited it weakens it. see the reaction in marked rectangle
longer price stays in demand area more chances of breaking in next visit
If anything, I would argue this chart shows that demand remains strong and that paper shorts are unable to break through.

I don't see lower lows - just consistent buy pressure when price reaches a certain level.

If gold continues its slow but steady rise, we won't be revisiting this area in the immediate future. Greece's election remains a wildcard, though.

Not to repeat others, but 1640 is a key area. If we break 1640, I will have to jump on the bandwagon of those who see a golden long opportunity.

Beeb - technical analysts ignore fundamentals and the physical market. Most traders lose money and also happen to focus primarily on technicals. Perhaps keeping an eye on fundies is what can make the difference?

I certainly have seen buy signals and sell signals go down the tubes with a news release. No one should follow technicals alone - even on a weekly or monthly chart. Everything can change at the drop of a hat. Whether it's a rumour or an inside play, technicals can mislead everyone on the outside. An excellent example is the fact that people had been calling for a crash in the gold price for years (prior to 2011) and latched onto every remote technical sell signal. These people were finally right about the correction last year, but after hundreds or thousands of bad calls based on their technical analysis.
  • #19,325
  • Jun 16, 2012 11:32am Jun 16, 2012 11:32am
http://www.silverseek.com/article/si...y-riskier-gold

Summing up, even though the fundamental picture for silver and the long-term case are bullish, the technical situation for silver is quite bearish at this time and its medium-term picture is more bearish than gold’s.
  • #19,326
  • Jun 16, 2012 4:34pm Jun 16, 2012 4:34pm
Quoting beeb
The chart I posted in #19490 has suddenly had approximately 200 extra views...

I can only assume that somebody on this thread has posted the link elsewhere.

The chart has now been deleted.

I post charts here because I want to, in order to demonstrate my take on the markets.

I do not expect them to be copied elsewhere.

The person who has done so should note that if you want to share my charts with others, at the very least it would be polite to ask me
first. I would appreciate a pm from that person..........

beeb
I appreciate the honesty of the person who pm'd me to apologise for posting this chart.

Subject closed

beeb
  • #19,327
  • Jun 16, 2012 5:01pm Jun 16, 2012 5:01pm
I feel and see the compression to! The weight is so strong that is looking to exsplode. We share the same view and to note I'm note trying to marry an idea, but at the same time am trying to use common sense. I'm not trying to hope I'm right I'm just taking measures as I should.

Quoting jaimini
As per my understanding
probability of golds going back to 1800s depends on QE3 decision by Feds
which I think is less likely because of election.

and if greece outcome pushes euro down then gold will follow it
and because of 3 bottoms around 1520 this time it won't support gold and we might also see 1470-80

also before jumping up from this place we will see another dive so that big players can load their longs

price is compressing while rising around 1640 so as far as my understanding this is not a bulish signal
  • #19,328
  • Jun 16, 2012 6:00pm Jun 16, 2012 6:00pm
It's funny how things work! I have been waiting for this moment for a long time now. Just to help out others and to just break down what I already knew; My fathers good friend just got back from greece and told him that Greece is going to get out and the inflation will jump to 1000%. Its over!! Don't take my word that I have been trying to stress, but it's going to happen. I'm not telling people what to do, I'm just trying to inform people of what I leran to know. I'm only 26, but I'm a learning machine!!!!!!! This just reconfirmed my understanding and my dad friend own's a billion dollar investment firm!!
  • #19,329
  • Jun 16, 2012 9:17pm Jun 16, 2012 9:17pm
unfortunately I agree with you, in my opinion it is likely that Greece will leave the EURO, the problem is how, when and what does greece do once they pull out. The Greek people in general are sick of the price hikes that joining the EURO has caused, general living expenses have sky rocketed. I know this because I was there 2 weeks ago.
  • #19,330
  • Jun 16, 2012 9:44pm Jun 16, 2012 9:44pm
Quoting Crgone12
It's funny how things work! I have been waiting for this moment for a long time now. Just to help out others and to just break down what I already knew; My fathers good friend just got back from greece and told him that Greece is going to get out and the inflation will jump to 1000%. Its over!! Don't take my word that I have been trying to stress, but it's going to happen. I'm not telling people what to do, I'm just trying to inform people of what I leran to know. I'm only 26, but I'm a learning machine!!!!!!! This just reconfirmed my understanding...
Was this based on a poll?
  • #19,331
  • Jun 17, 2012 8:49am Jun 17, 2012 8:49am
Gold, like many markets, is a at decision point:

Will it or won't it break resistance at lower fib zone as well as into a cycle high? Note declining volume too on uptrend.
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  • #19,332
  • Jun 17, 2012 12:05pm Jun 17, 2012 12:05pm
Even more uncertainty in Greece after exit polls. Positive or negative for gold?

I really don't know
  • #19,333
  • Jun 17, 2012 12:15pm Jun 17, 2012 12:15pm
Quoting duzza
Even more uncertainty in Greece after exit polls. Positive or negative for gold?

I really don't know
Uncertainty can be positive for gold.

I would not be so sure, however.

This (article below) and a Bloomberg piece indicate that Hedge Funds are long. Central Banks are buying it up without a doubt. China just surpassed India in terms of importing the stuff.

http://www.business-standard.com/ind...stakes/477560/

I think you should only trade what you can afford to lose. Period.

This rule becomes doubly important when &$@ starts hitting the fan.

At the same time, I still see this as the beginning of another run up to 1700 based on the sideways movement on the daily charts and a failure to break below the 1520 area. I don't see much compression yet.

SunTrader - your point about declining volume is relevant, but I learned that volume can be a mixed signal lately. Have you found any statistically significant studies about the relevance of volume? I would be curious whether it truly signifies weakness in the price rise and the likelihood the trend will remain. Like many things I have read about trading, I am skeptical because many times these "truisms" about the market are baseless if held against any rigorous statistical examination - especially when dealing with volatility and shifts in global financial markets.
  • #19,334
  • Jun 17, 2012 3:59pm Jun 17, 2012 3:59pm
can anybody tell me the way no know about market open price on Monday..
how to know whether there would be a gap in price
  • #19,335
  • Jun 17, 2012 4:37pm Jun 17, 2012 4:37pm
There will be, look at EUR/USD!

Quoting jaimini
can anybody tell me the way no know about market open price on Monday..
how to know whether there would be a gap in price
  • #19,336
  • Jun 17, 2012 5:07pm Jun 17, 2012 5:07pm
Quoting jaimini
can anybody tell me the way no know about market open price on Monday..
how to know whether there would be a gap in price
Hi Jaimini

I hope this link works:
http://www.oanda.com/currency/live-e...ont=breadcrumb

this site lists changing prices while markets are closed, but didn't show a gap for gold this weekend. Sorry I didn't get it to you before market open!

cheers
Cath
  • #19,337
  • Jun 17, 2012 8:16pm Jun 17, 2012 8:16pm
Totally thought we could be headed lower. Can't say I am anything but thankful. Perhaps I shouldn't speak so soon. Perhaps the storm has just begun? I was definitely having flash backs to September when the price jumped to $1630 and started falling.

For those experienced with mid-session gaps - was the $10 blip an exhaustion gap? Or how else would you describe the jump down to $1608-09 before a move back up? It looked like short term resistance was solid in the $1620 area and suddenly price dropped by $10.

Times like these I appreciate the experienced eye. Those senior traders who grace us with their insight are always appreciated. Thoughts?

Does the volatility mean anything?

Felt like a bear trap, but feelings mean nothing (and hindsight is always 20/20).

I will be quiet for now and hope that the experienced will share some insight as we head into a the new week. Greece stays put and gold stands its ground against a knock down (at least for now).
  • #19,338
  • Jun 17, 2012 9:20pm Jun 17, 2012 9:20pm
Will be going long at 1616-1617, TP1 1628
  • #19,339
  • Jun 17, 2012 9:20pm Jun 17, 2012 9:20pm
The way I see things now can be tricky for the untrained and timid. What happened today to me is that people just switched positions for short. Majority of people had longs, they saw the euro open up higher and they noticed gold had a small gap that closed quickly, this changed the minds of many and cause people to switch positions and causing a drop. It went back up becuase people are still holding on to longs.

You Have to realize what's happening in the Euro zone. Greece is not even the big problem now, but the news is hiding the big picture. Italy, France and Spain have been downgraded and are just as bad of shape as Greece. They will prolong everything as long as they can, but it won't work. Use your logic to break down what's happening.

I try and stress that, yes, the US is in bad shape as well but it can be managed at the moment, though it's on thin ice. Obama main money contributors are Goldman sacks and JP Morgan, and he's a democrat to add. If he has any chance of getting reelected he must make the economy look good, and just look at his backers. It's hard to say if he will win, but you better believe he will give it all he has. I am a believe in the US having a short term rally for awhile as the Euro unfolds. It's logic!! don't take my advice, just watch all this unfold.

I hate saying this kind of stuff, becuase I'm not trying to preach the unknown, but I'm have envested more time in learning this more so than anything in my life. I use common sense to understand motives and control. I find that when
  • #19,340
  • Jun 17, 2012 9:36pm Jun 17, 2012 9:36pm
Quoting Crgone12
I hate saying this kind of stuff, becuase I'm not trying to preach the unknown, but I'm have envested more time in learning this more so than anything in my life. I use common sense to understand motives and control. I find that when
Aren't you the one who just called that Greece was leaving the Euro effective immediately?

Don't get me wrong. I really appreciate your input, but I would not be so convinced that anything in the markets is a sure shot right now.

If it were so simple as you say, then everyone would be making a killing.

Markets can't function that way - there must be a loser for every winner.
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