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Only Gold!

  • #541
  • Jul 10, 2013 8:17am Jul 10, 2013 8:17am
Come on Saab. You can't help those who don't even 'want' to listen to what you say.

Just because I support you, it doesn't mean I will follow your path. I don't trade your style. Cuz I ain't seasoned trader. I would follow your style once I've enough experience. I know what you do would work. But not for me. not now.
  • #542
  • Jul 10, 2013 8:58am Jul 10, 2013 8:58am
Quoting Bhoopalan
Come on Saab. You can't help those who don't even 'want' to listen to what you say. Just because I support you, it doesn't mean I will follow your path. I don't trade your style. Cuz I ain't seasoned trader. I would follow your style once I've enough experience. I know what you do would work. But not for me. not now.
:-)
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  • #543
  • Jul 10, 2013 9:57am Jul 10, 2013 9:57am
Gold created a high 1261 a while back. Either its hitting SLs of all the Shorters or preparing for a rocket launch. I hope the news is not neutral & brings some action. Its been sideways for 2 days, sort of boring. The way I see the probability of it coming down appears higher, maybe my view is biased coz I wanna see it go down. Time will tell soon.
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  • #544
  • Jul 10, 2013 10:36am Jul 10, 2013 10:36am
7.00pm uk time uncle ben and his crew will do their bit to drive gold mad. gold will jump based on Chinese export bleeding qe will be live and kicking again.
  • #545
  • Jul 10, 2013 10:45am Jul 10, 2013 10:45am
Quoting goldfinger
7.00pm uk time uncle ben and his crew will do their bit to drive gold mad. gold will jump based on Chinese export bleeding qe will be live and kicking again.
Yea, but the action is supposed to start with below:

10-y Bond Auction

FOMC Meeting Minutes

Uncle Benny could give it momentum, all the next 12-24 hrs should be high, up n down & what not, lets watch the show.
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  • #546
  • Jul 10, 2013 10:50am Jul 10, 2013 10:50am
Normally I would say you have got to be in it to win it...but I will be closing all my gold positions before this evenings meeting...I suspect being short will not work in my favour
  • #547
  • Jul 10, 2013 10:57am Jul 10, 2013 10:57am
I am short usdjpy long gold tiny profit in both.
  • #548
  • Jul 10, 2013 11:45am Jul 10, 2013 11:45am
I just fired two shots @ 1253, SL @ 1271

Now got 9 shots against 9 longs, expect remainder week to be stormy, Happy trading to all!
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  • #549
  • Jul 10, 2013 12:41pm Jul 10, 2013 12:41pm
Me too on the same lines @Clock trader!!
The challenge is how to exit both sides without having the brunt..
  • #550
  • Jul 10, 2013 3:58pm Jul 10, 2013 3:58pm
hmmm, by this time I woud expected to see 1271 at least.
  • #551
  • Jul 10, 2013 4:13pm Jul 10, 2013 4:13pm
I would consider 1268-70 is a critical retest level (yellow line) and if PA breaks here and holds higher then the reversal to bullish may have taken place. The W%R is about to reach the overbought zone and so hopefully my short position be in the money. Have placed a pending short @1248 based on a shorter time frame (h1, h4). My TP will be 1:3 RR.
Attached Image (click to enlarge)
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  • #552
  • Jul 10, 2013 6:07pm Jul 10, 2013 6:07pm
the broker allows you to have long and short positions of the same instruments at the same time?

anyway in finances its your nett position that matters.

anyway good luck. cheers!
  • #553
  • Edited 7:06pm Jul 10, 2013 6:12pm | Edited 7:06pm
.
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  • #554
  • Edited 6:33pm Jul 10, 2013 6:16pm | Edited 6:33pm
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd 11-07-2013.png Size: 116 KB
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Click to Enlarge Name: sp500 mini 11-07-2013.png Size: 126 KB
Click to Enlarge Name: sp500 mni weekly 11-07-2013.png Size: 136 KB
Click to Enlarge Name: eurusd 11-07-2013 weekly.png Size: 134 KB
  • #555
  • Jul 10, 2013 7:45pm Jul 10, 2013 7:45pm
Quoting chokkurm
Me too on the same lines @Clock trader!! The challenge is how to exit both sides without having the brunt..
I'm left with two short positions :-( these were w/o SL. Right now got 9 longs & these two shots. Instead of playing short & both ways, I think I would focus on longs only, if it falls, pick longs, there would be some loss when it falls, no doubt, but, I think I should learn to live with it.

Gold currently at: 1282

takytto, your charts are nice as always, thanks for uploading instead of posting image link.

Quoting RisingSun
I would consider 1268-70 is a critical retest level (yellow line) and if PA breaks here and holds higher then the reversal to bullish may have taken place. The W%R is about to reach the overbought zone and so hopefully my short position be in the money. Have placed a pending short @1248 based on a shorter time frame (h1, h4). My TP will be 1:3 RR. {image}
Didn't you want to go long?
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  • #556
  • Jul 10, 2013 8:21pm Jul 10, 2013 8:21pm
Quoting jest1081
the broker allows you to have long and short positions of the same instruments at the same time? anyway in finances its your nett position that matters. anyway good luck. cheers!
Yea my broker allows that. Most of my shots took a hit. Left with net 7 longs right now. If it keeps shooting like a star, I plan to lock some profits tomorrow (fri)
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  • #557
  • Jul 10, 2013 9:22pm Jul 10, 2013 9:22pm
my stoploss on gold at 1279 closed usdjpy short
  • #558
  • Jul 10, 2013 10:06pm Jul 10, 2013 10:06pm
Here attached is a Trend, unlike almost all traders I rely on new moons, can be pretty similar to most trends in your charts too. Its been falling like Red Apple as we can see.

New Moon Date Source: http://eclipse.gsfc.nasa.gov/phase/phase2001gmt.html
Guess what, about 20% or more at NASA are of Indian origin :-)

If the next new moon, which I'm sure will be, appears above the last new moon (few days back), Gold is out of the woods.

Its gonna take about another 8 more weeks when most of the traders in the world will agree with the long term long trend of Gold. Most wise investors already adhere to this fact.
Attached Image (click to enlarge)
Click to Enlarge Name: new-moon-trend.jpg Size: 138 KB
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  • #559
  • Jul 11, 2013 1:03am Jul 11, 2013 1:03am
Gold currently at 1296, hope it peaks out around Monday so that I can try selling or at least lock my 7 longs.
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  • #560
  • Jul 11, 2013 4:02am Jul 11, 2013 4:02am
I keep buying the pullbacks, because I think Uncle Ben can only fart in one direction.
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