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  • #81
  • May 16, 2013 3:49am May 16, 2013 3:49am
well as we await for the festivals, its time to sell gold... all the technicals and price action are giving sell signals currently...
Clock trader, I assume that you have been using this system for quite some time now. Could you indicate in some historical
charts any of these festivity times when the price of gold went up? Would appreciate some historical proof.
  • #82
  • May 16, 2013 3:52am May 16, 2013 3:52am
Quoting amansuri1
sorry to say buddy but i did not c any buying happening in the period u mentioned, infact its gone right opposite, anyway whts your current view on it. {quote}
Dear Aman Suri, I request you to take a look at my chart & view again. I gave a buy window period ranging from May-13 through May-21, needless to say that my chart with yellow circle above is clearly depicting the range.

The tentative bottom I felt was/is around 1380, there maybe some spikes below that, the buy period will culminate on or around May-21

The selling window will open around Nov-2013 & Jan-2014

If you read my entire thread again, my simple philosophy is to buy in Apr-May-June & sell those positions in Nov & Jan. You may want to read my signature too.

regards,

Sam
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  • #83
  • May 16, 2013 3:58am May 16, 2013 3:58am
Quoting Danny Maina
well as we await for the festivals, its time to sell gold... all the technicals and price action are giving sell signals currently... Clock trader, I assume that you have been using this system for quite some time now. Could you indicate in some historical charts any of these festivity times when the price of gold went up? Would appreciate some historical proof.
If you can dry run my simple formula even at a macro level over the past 30 - 40 years, you will conclude & agree with below:

Buy in Apr-May-June & selling Nov or January.

Apparently, you cannot go & buy with SL set 10 $s away. The gold falling badly in Summers (May-June) is a clear proof that its worth investing.

You will need more of an investor's eye to agree with my view. The dry run will surely prove that.
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  • #84
  • May 16, 2013 4:02am May 16, 2013 4:02am
Here are I re-post my chart from May-13. The buy dates culminate around May-21

The yellow circle is a Buy area on Day Chart. The sell dates will fall around Nov / Jan.
Attached Image
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  • #85
  • May 16, 2013 4:04am May 16, 2013 4:04am
Quoting Danny Maina
well as we await for the festivals, its time to sell gold... all the technicals and price action are giving sell signals currently... Clock trader, I assume that you have been using this system for quite some time now. Could you indicate in some historical charts any of these festivity times when the price of gold went up? Would appreciate some historical proof.
I dont know this trading strategy either, but as my below quote & chart still in this sell trade & will stop & reverse at my buy zones, its all about patience & discipline & following the trade plan & win more than lose. My TA also aligns with his prediction on price reversal, so I am with him That said I dont claim I am Mr.Wright, I can be wrong also, but we have to see what happens when price gets there


Quoting alex4xes
{quote} You method is interesting however I follow TA. As per TA also, I should agree with its bottom coming soon, probably within this week or next week. Infact I consider the low which was at 1321.00 handle will be the last low & the fall which will happen this week & next week will not breach that low. However sellers will push the price to 1345-1325 handle before there will be some bullish develoment in this instument. The key price handle is 1345-1325, if price breach this level then I will sit aside for further development of PA to understand...
Attached Image (click to enlarge)
Click to Enlarge Name: gold sell.jpg Size: 96 KB
  • #86
  • May 16, 2013 4:15am May 16, 2013 4:15am
is there any price that would invalidate your signal ?

For example if it falls to 1300 say tomorrow, not valid any more, or something like that ?
  • #87
  • May 16, 2013 4:35am May 16, 2013 4:35am
IMO the gold will get strong support at 1361.xx
  • #88
  • May 16, 2013 4:49am May 16, 2013 4:49am
Quoting andan
IMO the gold will get strong support at 1361.xx
if H4 candle close below 1361 then it will go to the lowest price 20if h4 candle close below 1361 then it will go to the lowest 2011.
but once again, it just my opinion.
  • #89
  • May 16, 2013 5:51am May 16, 2013 5:51am
Quoting andan
{quote} if H4 candle close below 1361 then it will go to the lowest price 20if h4 candle close below 1361 then it will go to the lowest 2011. but once again, it just my opinion.
My technicals are based on seasons & ancients festivals. However, on a personal note, when it comes to feelings & emotions, lolz, I just pray it stops falling now, because I wish to go on a shopping spree.

As per my technicals, it should stop falling in about 2 working days anyways & as said earlier clear/concrete bottom should be visible by mid of next month.
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  • #90
  • May 16, 2013 5:55am May 16, 2013 5:55am
Quoting turboum
{quote} Hello, I trade gold but only ETF? Which data providers you have??? I have ampere-data.com, they have only 3 years minute data, but they are cheap but no gap data. Jack
Currently, I don't have any data providers, at one point, many years back, I did download sh!tloads of historic data though.

I have been doing intense research over the past 6 years on how these waves work in FX charts, at each stage I always learnt how much I needed to learn more. Learning will never stop but I hope to reach a fair stage within an year or two. What do you have on your mind regarding data?

If its Gold you want to dig, you would need at least 30 yrs of data, even daily would work.
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  • #91
  • May 16, 2013 7:44am May 16, 2013 7:44am
Quoting amansuri1
sorry to say buddy but i did not c any buying happening in the period u mentioned, infact its gone right opposite, anyway whts your current view on it. {quote}
When people buy stock with cash (not futures), the stocks will go up, demand / supply situation.

However, the way I see, when overbuying takes place in Gold with huge leverages, its supposed to go down.

My current view is to buy starting today through May-21
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  • #92
  • May 16, 2013 11:04pm May 16, 2013 11:04pm
Quoting ClockTrader
{quote} When people buy stock with cash (not futures), the stocks will go up, demand / supply situation. However, the way I see, when overbuying takes place in Gold with huge leverages, its supposed to go down. My current view is to buy starting today through May-21

Not agree with: 'the way I see, when overbuying takes place in Gold with huge leverages, its supposed to go down.

To me ' Buying is buying, no matter whether it is coming from loans, it create demands....
  • #93
  • May 17, 2013 12:00am May 17, 2013 12:00am
Quoting Red Herring
{quote} Not agree with: 'the way I see, when overbuying takes place in Gold with huge leverages, its supposed to go down. To me ' Buying is buying, no matter whether it is coming from loans, it create demands....
Sir, I will not argue with anyone (including you) on this. You have full right to follow your beliefs & schools.
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  • #94
  • May 17, 2013 9:45am May 17, 2013 9:45am
In the last 24 hrs I had begun taking long positions. I took about 10 positions without SL for long term & about ~10 with SL set between 1355 - 1365

Few of the SLs have been hit already. I hope I survive & keep breathing :-)
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  • #95
  • May 17, 2013 10:31am May 17, 2013 10:31am
Quoting ClockTrader
In the last 24 hrs I had begun taking long positions. I took about 10 positions without SL for long term & about ~10 with SL set between 1355 - 1365 Few of the SLs have been hit already. I hope I survive & keep breathing :-)
I think your date of 21 may is going to be reversal day, as by monday price seems to be trading on 1325-40 handle, so tuesday will be reversal in the form of double bottom, my TA is aligned with your method, I will take long position around that area when I get technical entry. I think you entered long quiet early, you should have started scaling in from monday us session, anyways you are investor so it will not hurt you much, best of luck & lets make money
  • #96
  • May 17, 2013 11:45am May 17, 2013 11:45am
Quoting alex4xes
{quote} I think your date of 21 may is going to be reversal day, as by monday price seems to be trading on 1325-40 handle, so tuesday will be reversal in the form of double bottom, my TA is aligned with your method, I will take long position around that area when I get technical entry. I think you entered long quiet early, you should have started scaling in from monday us session, anyways you are investor so it will not hurt you much, best of luck & lets make money
By all my calc, today should have been the last day & 21st the last day in worst scenario, but, we never know. Time will tell. The best we can do is follow our schools.

You are right, I did close shorts way too early & started longs early too. Losing money hurts & it hurts even more when losses occur due to lack of discipline. I was too desperate to go long. We Indians (Hindus) who believe in our religion & bend towards investment crave badly for this season to buy Gold. I was just too desperate.
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  • #97
  • May 19, 2013 6:26am May 19, 2013 6:26am
I am really confused about the down movement of gold. when it comes for an end.
cos based on the news I have searched and read, the prediction is going down, down and down again.
I made wrong OP ten days ago and really hope gold is going up.
come on dudes give me your predictions about the movement of gold for next week.
Thanks a lot all my friends
  • #98
  • May 19, 2013 7:09am May 19, 2013 7:09am
Quoting kwek-kwek
I am really confused about the down movement of gold. when it comes for an end. cos based on the news I have searched and read, the prediction is going down, down and down again. I made wrong OP ten days ago and really hope gold is going up. come on dudes give me your predictions about the movement of gold for next week. Thanks a lot all my friends
i predict gold going up next week. Hope you feel better now

Seriously, my system that is based on price action & news, still has not detected bottom.

At this point I still believe previous low 1321 will not be revisited and market will reverse before, for new highs.

Will post my trade signal here if I get one.
  • #99
  • May 19, 2013 7:23am May 19, 2013 7:23am
I carried out an analysis on gold using cycles and much of my analysis also points to a low in or around the 20th May, please see the chart below
Attached Image (click to enlarge)
Click to Enlarge Name: GOLD_20th_May_outlook.png Size: 78 KB
  • #100
  • May 19, 2013 8:22am May 19, 2013 8:22am
Quoting seaman2
{quote} i predict gold going up next week. Hope you feel better now Seriously, my system that is based on price action & news, still has not detected bottom. At this point I still believe previous low 1321 will not be revisited and market will reverse before, for new highs. Will post my trade signal here if I get one.
thanks a lot buddy
two thumbs up for your help
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