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  • #401
  • Jul 5, 2013 7:06am Jul 5, 2013 7:06am
Quoting Touchdown
{quote} Non-Farm Employment is stated as a percentage, otherwise known as the Unemployment Rate. The Non-Farm Payroll is the actual number of jobs added or lost. A rise in unemployment may still come with an increase in jobs, so no its not really the same thing. Am long from 1192 since the the 28 June, with a stop loss at 1219. But if I didn't have the position open, I wouldn't go long now. Far too risky...there's no real momentum either way in the market at the moment. Having said that, the RSI on the daily is massively oversold and we are due...
Thanks for throwing light on NFP & NFE.
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  • #402
  • Jul 5, 2013 7:10am Jul 5, 2013 7:10am
Quoting takytto
if it falls to 2 suport as in this graph then tamos bad it comes down. if not then we come to see a shoulder head shoulder inverted graph in 30 minutes I think?
Sorry to say I'm not a big fan of charts. These can be interesting & good guide though. I primarily use Astro-lunar charts & Golden seasons as explain on Page 15 of this thread.
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  • #403
  • Jul 5, 2013 7:16am Jul 5, 2013 7:16am
Quoting ClockTrader
{quote} Whats your SL? If it goes below 1328, it'll begin hitting my SLs {quote} I think, if it goes below 1221, that's very dirty & grave news for Gold investors like me. I'm hoping on the data to bring some relief, if its bad for Gold, boooommmm edit: if its bad for Gold, boooommmm
S/O at 1241 ....
  • #404
  • Jul 5, 2013 7:27am Jul 5, 2013 7:27am
Good luck people, in 5 min its going to be a wild ride!

Unless unemployment rate goes down, and we get a lot fewer that 160,000 jobs...I see gold taking another dive towards 1200 very quickly. I'm long so hopefully we get really bad numbers.
  • #405
  • Jul 5, 2013 7:28am Jul 5, 2013 7:28am
What if the news is neutral? No action on news at all? I've seen this so many times. What if it keeps moving sideways or sliding down, slowly? even until early next week?
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  • #406
  • Jul 5, 2013 7:30am Jul 5, 2013 7:30am
Quoting ClockTrader
What if the news is neutral? No action on news at all? I've seen this so many times. What if it keeps moving sideways or sliding down, slowly? even until early next week?
Neutral is bad too...bias is down at the moment for gold.
  • #407
  • Jul 5, 2013 7:39am Jul 5, 2013 7:39am
Quoting Touchdown
{quote} Neutral is bad too...bias is down at the moment for gold.
Only 6 long positions left out of 21, not mentioning my scalps here.
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  • #408
  • Jul 5, 2013 7:43am Jul 5, 2013 7:43am
Added two longs @ 1222, SL @ 1180
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  • #409
  • Jul 5, 2013 8:09am Jul 5, 2013 8:09am
If we don't break above 1226 soon, bulls are in trouble.
  • #410
  • Jul 5, 2013 8:58am Jul 5, 2013 8:58am
Quoting Touchdown
If we don't break above 1226 soon, bulls are in trouble.
Today or by early next week, I'm kinda expecting it might break 1200, actually, I'm getting prepared for it.
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  • #411
  • Jul 5, 2013 9:34am Jul 5, 2013 9:34am
Quoting salman14
{quote} S/O at 1241 ....
recovery in progress , almost covered previous loss.
Attached Image (click to enlarge)
Click to Enlarge Name: covered.png Size: 5 KB
  • #412
  • Jul 5, 2013 9:50am Jul 5, 2013 9:50am
Quoting ClockTrader
{quote} Today or by early next week, I'm kinda expecting it might break 1200, actually, I'm getting prepared for it.
I wouldn't be so sure. 1208-1212 is the high of the year 2010 and it looks like there may be some support there. We are also miles below the 200 day moving average on the daily chart. We may well go lower in the coming months but not before we get a corrective retracement to at least 1320 in my opinion. I'm still holding onto my long position.

I'll try post a chart, even tough I know you aren't into charts Charts are after all a visual picture of price movement.
  • #413
  • Jul 5, 2013 10:07am Jul 5, 2013 10:07am
Feel free to post as many charts bro. Its just that I don't follow charts, but only Astro-lunar charts. I do find charts interesting though. There are so many people here keen to look into charts.

I got a total 9 longs now. I hope I can add more by mid of next week.
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  • #414
  • Jul 5, 2013 10:11am Jul 5, 2013 10:11am
Here's a daily chart of gold.

The pink line is the 200 day moving average. Note how far we are from it at the moment. The last time we have had price move that fast, was the spike in 2011 and look how big that correction was.

Is it guaranteed to play out this way too? Of coarse not, but the risk/ reward ration on this type of play is well worth it in my opinion. The market is very oversold right now. Still holding onto my long from 1191...if I'm wrong, I'm wrong but I'm liking this setup.

Attached Image (click to enlarge)
Click to Enlarge Name: Gold.gif Size: 91 KB
  • #415
  • Jul 5, 2013 12:43pm Jul 5, 2013 12:43pm
someone buy 100,000 gold contracts to see if it goes lol
  • #416
  • Jul 5, 2013 1:02pm Jul 5, 2013 1:02pm
Quoting Touchdown
Here's a daily chart of gold. The pink line is the 200 day moving average. Note how far we are from it at the moment. The last time we have had price move that fast, was the spike in 2011 and look how big that correction was. Is it guaranteed to play out this way too? Of coarse not, but the risk/ reward ration on this type of play is well worth it in my opinion. The market is very oversold right now. Still holding onto my long from 1191...if I'm wrong, I'm wrong but I'm liking this setup. {image}
IMHO, I see Gold only climbing in the long run. Going forward next week, before it can bounce back with force, it would want to hit all SLs below or around 1215, that is the reason I expect it to kiss 1200 area. My SLs lie at 1180 to cover that risk, I may still get hurt. I just hope I am able to buy & fulfill my target - 1 by mid of next week.

Quoting takytto
someone buy 100,000 gold contracts to see if it goes lol
Does he has a SL? if yes, what would that be?

takytto, do you hail from Japan?
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  • #417
  • Jul 5, 2013 1:06pm Jul 5, 2013 1:06pm
Time to hit bed, Good Luck to ya all!
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  • #418
  • Jul 5, 2013 1:13pm Jul 5, 2013 1:13pm
Quoting ClockTrader
Time to hit bed, Good Luck to ya all!
ok.
.
  • #419
  • Edited Jul 6, 2013 3:41pm Jul 5, 2013 3:59pm | Edited Jul 6, 2013 3:41pm
gold

http://prntscr.com/1dr4c3
  • #420
  • Jul 5, 2013 8:02pm Jul 5, 2013 8:02pm
I believe in gold now
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