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All Majors and Gold

  • #5,041
  • Apr 24, 2013 10:00am Apr 24, 2013 10:00am
looking at my own charts, this range will continue till tomorrow or friday.
as for down move, I guess you are right.

Quoting neo1599
Correction seems about done. Waiting for close below 1420.xx for confirmation to 1388.xx-1381.xx. If we close below both we may look to revisit the lows and possibly trigger another down leg.
  • #5,042
  • Apr 24, 2013 10:08am Apr 24, 2013 10:08am
Quoting samadum
looking at my own charts, this range will continue till tomorrow or friday. as for down move, I guess you are right. {quote}

here's what i'm following with gold


Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh1april24.png Size: 54 KB


With this chart what is it showing you?
Wooooohooooo or Boooooohooooo
  • #5,043
  • Apr 24, 2013 10:09am Apr 24, 2013 10:09am
RANGING..break either way big time
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 74 KB
GBP/USD
  • #5,044
  • Apr 24, 2013 10:16am Apr 24, 2013 10:16am
let's see what affects this will have tomorrow.....

Product Calendar for Gold Options
ContractProduct

MAY 2013OGK13

Code First Trade
08/26/2011


Last Trade

04/25/2013

Settlement

04/25/2013
Wooooohooooo or Boooooohooooo
  • #5,045
  • Apr 24, 2013 10:22am Apr 24, 2013 10:22am
talk to me guys...
I have some time right now....
Wooooohooooo or Boooooohooooo
  • #5,046
  • Apr 24, 2013 10:35am Apr 24, 2013 10:35am
I am looking at it going higher after a move down to S2 1371 S1 1382.4, before a move up to R1 1450, R2 1479 R3 1527 - Holding my Iron condor trade to hopefully make pips on move down and up.
  • #5,047
  • Apr 24, 2013 10:39am Apr 24, 2013 10:39am
Should mention RZ resistance at 1402.34
  • #5,048
  • Apr 24, 2013 10:43am Apr 24, 2013 10:43am
Quoting EricB
I am looking at it going higher after a move down to S2 1371 S1 1382.4, before a move up to R1 1450, R2 1479 R3 1527 - Holding my Iron condor trade to hopefully make pips on move down and up.
I think tomorrow will point the way....for what next week will do....

but right now it's either direction....imo
Wooooohooooo or Boooooohooooo
  • #5,049
  • Apr 24, 2013 10:55am Apr 24, 2013 10:55am
I think the bias is up because of a number of factors but not before a move down.
  • #5,050
  • Apr 24, 2013 12:48pm Apr 24, 2013 12:48pm
Quoting EricB
I think the bias is up because of a number of factors but not before a move down.
Its definitely interesting to watch the accumulation on the dips so far. Nice consolidation on way up from bottom, I agree that we will see a big move up or down.

Anyone else read the Goldman client release stating to cover the gold shorts?

Interesting to say the least. I imagine more shorts are covering on these dips and im sure the massive fall spurred some heavy buying as prices were very cheap....time will tell, either way, Gold is in play again

Green PIPS for all!
"It is not enough to have a good mind; the main thing is to use it well"
  • #5,051
  • Apr 24, 2013 12:51pm Apr 24, 2013 12:51pm
Quoting QuikFlipp
{quote} Its definitely interesting to watch the accumulation on the dips so far. Nice consolidation on way up from bottom, I agree that we will see a big move up or down. Anyone else read the Goldman client release stating to cover the gold shorts? Interesting to say the least. I imagine more shorts are covering on these dips and im sure the massive fall spurred some heavy buying as prices were very cheap....time will tell, either way, Gold is in play again Green PIPS for all!
Could you kindly post the link to the article.

Thanks
G
Wooooohooooo or Boooooohooooo
  • #5,052
  • Apr 24, 2013 1:05pm Apr 24, 2013 1:05pm
Quoting gnomoneey
{quote} Could you kindly post the link to the article. Thanks G

Saw it yesterday, no idea where it is now, this should suffice.

http://www.zerohedge.com/news/2013-0...ses-gold-short



We closed our short trading recommendation on gold

We have closed our recommendation to short COMEX Gold, as prices moved above the stop at $1,400/toz. We have exited the trade significantly below our original target of $1,450/toz, for a potential gain of 10.4%. The move since initiation was surprisingly rapid, likely exacerbated by the break of well-flagged technical support levels. Our bias is to expect further declines in gold prices on the combination of continued ETF outflows as conviction in holding gold continues to wane as well as our economists’ forecast for a reacceleration in US growth later this year.

The world you desire can be won. It exists.. it is real.. it is possible..
  • #5,053
  • Apr 24, 2013 1:07pm Apr 24, 2013 1:07pm
Quoting gnomoneey
{quote} Could you kindly post the link to the article. Thanks G

Here you go: http://www.cnbc.com/id/100665045
"It is not enough to have a good mind; the main thing is to use it well"
  • #5,054
  • Apr 24, 2013 1:08pm Apr 24, 2013 1:08pm
Quoting Mr. Scott
{quote} Saw it yesterday, no idea where it is now, this should suffice. http://www.zerohedge.com/news/2013-0...ses-gold-short We closed our short trading recommendation on gold We have closed our recommendation to short COMEX Gold, as prices moved above the stop at $1,400/toz. We have exited the trade significantly below our original target of $1,450/toz, for a potential gain of 10.4%. The move since initiation was surprisingly rapid, likely exacerbated by the break of well-flagged technical support levels. Our bias...
Thanks Scott for the reference.

By the way is the 4th wave done yet?

Thanks
G
Wooooohooooo or Boooooohooooo
  • #5,055
  • Apr 24, 2013 1:08pm Apr 24, 2013 1:08pm
Quoting Mr. Scott
{quote} Saw it yesterday, no idea where it is now, this should suffice. http://www.zerohedge.com/news/2013-0...ses-gold-short We closed our short trading recommendation on gold We have closed our recommendation to short COMEX Gold, as prices moved above the stop at $1,400/toz. We have exited the trade significantly below our original target of $1,450/toz, for a potential gain of 10.4%. The move since initiation was surprisingly rapid, likely exacerbated by the break of well-flagged technical support levels. Our bias...

Thank you. I saw it on cnbc website, and when you asked, it was gone....had to really dig to find it.
"It is not enough to have a good mind; the main thing is to use it well"
  • #5,056
  • Apr 24, 2013 1:10pm Apr 24, 2013 1:10pm
Quoting QuikFlipp
{quote} Here you go: http://www.cnbc.com/id/100665045
Thanks quickflipp.
This way people can understand and make their own views after reading the article

G
Wooooohooooo or Boooooohooooo
  • #5,057
  • Apr 24, 2013 1:16pm Apr 24, 2013 1:16pm
Quoting gnomoneey
{quote} Thanks Scott for the reference. By the way is the 4th wave done yet? Thanks G

Hi G,

That is a great question and the answer is it is possible it ends here. It is unknown at this point but fib level here makes it possible. Good news is fifth wave should give plenty of confirmation.

Was pondering just this and thinking that Goldman is accumulating again to drive it lower.

I had/have the fourth wave ending here. I am not the only one. We will see. Not sure if it makes me feel better or worse when I see the same elsewhere.

Credit to those other ff members who have the same but have prettier charts.

http://harmonicelliottwave.blogspot....r-gold_23.html

http://fxtechnicals.net/2013/04/vari...ly-timescales/
The world you desire can be won. It exists.. it is real.. it is possible..
  • #5,058
  • Apr 24, 2013 1:23pm Apr 24, 2013 1:23pm
Quoting Mr. Scott
{quote} Hi G, That is a great question and the answer is it is possible it ends here. It is unknown at this point but fib level here makes it possible. Good news is fifth wave should give plenty of confirmation. Was pondering just this and thinking that Goldman is accumulating again to drive it lower. I had/have the fourth wave ending here. I am not the only one. We will see. Not sure if it makes me feel better or worse when I see the same elsewhere. Credit to those other ff members who have the same but have prettier charts. http://harmonicelliottwave.blogspot....r-gold_23.html...
Like I said last week it'll be interesting times tomorrow until mid week next week
Wooooohooooo or Boooooohooooo
  • #5,059
  • Apr 24, 2013 1:24pm Apr 24, 2013 1:24pm
Quoting gnomoneey
{quote} Like I said last week it'll be interesting times tomorrow until mid week next week

Right, consolidation = fun times ahead
The world you desire can be won. It exists.. it is real.. it is possible..
  • #5,060
  • Apr 24, 2013 1:29pm Apr 24, 2013 1:29pm
Quoting Mr. Scott
{quote} Right, consolidation = fun times ahead

I have to say, im thinking the upshoot will be to 1450-1460 before a healthy correction. The fundamentals had this trading in the 1500-1530 range and that manufactured fall in gold will be corrected quickly. Im almost tempted to keep open a small position just to say "i bought it at 14XX" lol

Again, Green PIPS for all.
"It is not enough to have a good mind; the main thing is to use it well"
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