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All Majors and Gold

  • #8,001
  • Jun 28, 2013 11:57am Jun 28, 2013 11:57am
Quoting Veron
Anyone knows the reason why gold go up? It seems like there is no apparent reason for gold to move up but it did anyway.
Trader short covering and profit taking due End of month and 2nd Q close account. Also, rebound after hard sold off.
  • #8,002
  • Jun 28, 2013 12:01pm Jun 28, 2013 12:01pm
Quoting multi888
{quote} It may rebound to 1225...

Target hit...
  • #8,003
  • Jun 28, 2013 12:03pm Jun 28, 2013 12:03pm
smh why do you all listen to NEWS besides major t hings like Big Ben? You look at overvalue positions and see resistance created on both sides. You trade from them. Fridays are well known for pullbacks. Depends on what the market has been doing all week. Next week is probably going to channel for a couple of days with a possible slight up trend which could be huge cosidering how far gold has fallen. The channel would be very wide. price consolidates. Play the channel if it develops.

Also the higher the volume the lower the time frame you can trade successfully with the larger TF in mind.
  • #8,004
  • Jun 28, 2013 12:04pm Jun 28, 2013 12:04pm
Quoting multi888
{quote} Target hit...
how about now?
Gold is my pleasure.
  • #8,005
  • Jun 28, 2013 12:08pm Jun 28, 2013 12:08pm
Quoting jebataro
{quote} how about now?

To do what?

My TP target hit...I'm long from 1185.
  • #8,006
  • Jun 28, 2013 12:22pm Jun 28, 2013 12:22pm
Quoting multi888
{quote} To do what? My TP target hit...I'm long from 1185.

up to where?
Gold is my pleasure.
  • #8,007
  • Jun 28, 2013 12:23pm Jun 28, 2013 12:23pm
Quoting chip_8088
1219 is resistance for now!if break 1219 gold can go to 1236

it sounds achievable now...
Gold is my pleasure.
  • #8,008
  • Jun 28, 2013 12:32pm Jun 28, 2013 12:32pm
Quoting jebataro
{quote} up to where?

My guess is it may go 1230 and after that may also try going 1248...this is just my guess. Just read with a pinch of salt.
Currently no position as have TP.

GL to all.
  • #8,009
  • Jun 28, 2013 12:37pm Jun 28, 2013 12:37pm
Today is a great day indeed

TP's were hit on gold and silver...Ka-Ching!
"It is not enough to have a good mind; the main thing is to use it well"
  • #8,010
  • Jun 28, 2013 12:39pm Jun 28, 2013 12:39pm
Quoting multi888
{quote} Trader short covering and profit taking due End of month and 2nd Q close account. Also, rebound after hard sold off.

PRECISELY. This was an obvious day to go long.

Next week, we see if she continues higher. Hoping Gold closes above 1235, but looks like top is in at 1230 for today.
"It is not enough to have a good mind; the main thing is to use it well"
  • #8,011
  • Jun 28, 2013 12:44pm Jun 28, 2013 12:44pm
Quoting QuikFlipp
{quote} PRECISELY. This was an obvious day to go long. Next week, we see if she continues higher. Hoping Gold closes above 1235, but looks like top is in at 1230 for today.

agree...1230 been tested quite a few now...
Gold is my pleasure.
  • #8,012
  • Jun 28, 2013 12:49pm Jun 28, 2013 12:49pm
Quoting gnomoneey
who wants to know the reason for 1185 target...... pm me no later than 30mins from this posting other wise don't ask me please.... am seating at a coffee shop and only have 30 mins here in pm give me your email address -if you get this template you will have insight on how to evaluate gold charts thanks, G

thanks for this info....

how bout now g?
Gold is my pleasure.
  • #8,013
  • Jun 28, 2013 12:52pm Jun 28, 2013 12:52pm
Attached Image (click to enlarge)
Click to Enlarge Name: Gold-weekly-6-27-133.png Size: 126 KB
Attached Image (click to enlarge)
Click to Enlarge Name: Silver-weekly-6-27-135.png Size: 129 KB
  • #8,014
  • Jun 28, 2013 3:06pm Jun 28, 2013 3:06pm
So, what next for gold eh? Price up, or price down? A bit of both I suspect, depending too on your trading timeframe. It's easy to get greedy at times like this so I think it's important to remember some basics, and note too, no one on the planet knows what gold is going to do next. Can you clearly state in simple terms your trading edge? Exactly what is your timeframe for a trade and precisely what strategy are you employing? Are you sticking rigidly to your normal risk management/money management which you've clearly defined well in advance of any trade? Plenty knowledgeable folk on this thread so sorry for talking basics but these are the things I'm reminding myself of daily. Seems we're in a normal healthy correction in a strong uptrend, an excellent buying opportunity for the real stuff longer term, and lots of shorter term trading opportunities in both directions. I'm avoiding lots of fancy indicators and colourful charts as that doesn't work for me, though it does for others, and just looking at obvious s and r and short term trends to trade.
  • #8,015
  • Jun 29, 2013 3:40am Jun 29, 2013 3:40am
Attached Image
  • #8,016
  • Jun 29, 2013 4:44am Jun 29, 2013 4:44am
Quoting shafaat
{image}
based on this chart and analysis, you're suggesting that it will go up and then come down back again to around 1206; is that right? up to what levee do you estimate it will go up before it comes down to 1206?
  • #8,017
  • Jun 29, 2013 6:13am Jun 29, 2013 6:13am
yes ...if its wave 4 then we will see abc correction then 5 wave down ..
  • #8,018
  • Jun 29, 2013 7:54am Jun 29, 2013 7:54am
Quoting shafaat
yes ...if its wave 4 then we will see abc correction then 5 wave down ..
the correction that is happening currently, up to what price level do you estimate it will go? there is a strong resistance at around 1242-44. do you think it will cross that?
  • #8,019
  • Jun 29, 2013 8:38am Jun 29, 2013 8:38am
Quoting chip_8088
{quote} yes!now if break 99.45 go to 99.80 and wait to short!


An attempt here is correct, but I don’t think the correction of UsdJpy is over
  • #8,020
  • Jun 29, 2013 9:31am Jun 29, 2013 9:31am
so you think usdjpy will break 100?
last time when it break 100 after long time, it went up to 103
now daily candle very strong for few days
have no idea where it would go

?
Quoting elisab
{quote} An attempt here is correct, but I don’t think the correction of UsdJpy is over
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