Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
- Post #23,982
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- Jul 23, 2013 12:53pm Jul 23, 2013 12:53pm
Hi guys
As long as Gold is under 1351, level I'm still bearish on Gold,
Here is my point of view:
As long as Gold is under 1351, level I'm still bearish on Gold,
Here is my point of view:
- Post #23,983
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- Jul 23, 2013 1:01pm Jul 23, 2013 1:01pm
- Joined Jun 2010 | Status: s = k log W | 20,603 Posts
- Post #23,985
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- Jul 23, 2013 2:02pm Jul 23, 2013 2:02pm
- Joined Jun 2010 | Status: s = k log W | 20,603 Posts
{quote} Hi infinitus Thanks for your feedback, Well, in my humble opinion,Wave C could end either at 1337 (trendline resistance) or could make a new high around 1349 which is 161.8% projection of wave A, But whatever happened so far could not change the bearish view in the bigger picture.
This was my view a few days ago
Since pink 4 moved now into pink 1 this is invalidated. Maybe pink 2 is plum 4, and pink 3 is plum 5, thus also green 3.
So the bearish case is far from being dead :-)
Either we end here, or the resistance shelf between 1343 to 1375 gets tested (the higher the better for good R:R :-)
Trade well and many green pips
- Post #23,986
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- Jul 23, 2013 4:03pm Jul 23, 2013 4:03pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- Post #23,987
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- Jul 23, 2013 4:06pm Jul 23, 2013 4:06pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- Post #23,988
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- Jul 23, 2013 4:10pm Jul 23, 2013 4:10pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
{quote} LOL -- yes the point of it is that Indian women are adorned with lots of gold before wedding, it is THIERS' to KEEP in the event of a divorce, Since u are new I will give away some secrets BUT, Y O U NEED TO DO A LOT OF READING AND WATCHING THE CHART TO BE A GOLD TRADER OR INVESTOR>>. Great job!
Also I do NOT trade EW. ANYONE who does is welcome to post.
However, ponder this? Explain a massive exodus losing almost 600$ per troy oz. with elliot wave to me! WITHOUT FUNDAMENTALS!!!
1750 + to 1100 +
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- Post #23,989
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- Jul 23, 2013 4:25pm Jul 23, 2013 4:25pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- Post #23,990
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- Jul 23, 2013 4:32pm Jul 23, 2013 4:32pm
- Joined Jun 2010 | Status: s = k log W | 20,603 Posts
{quote} Also I do NOT trade EW. ANYONE who does is welcome to post. However, ponder this? Explain a massive exodus losing almost 600$ per troy oz. with elliot wave to me! WITHOUT FUNDAMENTALS!!!
let me try :-)
We Elliotticans think, that price and pattern simply follow social mood. In Elliott Wave, Psychology, Socioeconomics we do believe, that social mood does not need an external trigger to change direction. So the simplest answer is:
"we do only follow pattern" and do not care much about fundamentals
Let me go one step further. But for this we do need agreement (at least a hypothetical one), that Elliott waves exist. OK, let us assume, they do really exist.
When this pattern really exist we have to accept, that fundamentals can not be the trigger for the changes in direction of the waves. Because all the fundamental data worldwide, hour by hour, day by day, week by week, would have to be orchestrated to build the Elliott Waves. But that would be far too deterministic. Solution is: it can only be the other way around.
Last but not least let us take a look at social mood:
when Gold hit 1900, we had super bullishness in the markets. The number of Gold bulls were around 95% or so. You know the old adage: "When a bet becomes too one-sided....."
When Gold reached again the 1800 level last year in September, the bullishness was back at those levels again, and it was time to go short.
At 1167, the picture suddenly was vice versa, and only around 3-5% Gold bulls were left. That was a good place to go long.
I do hope, that I get the sentiment data soon, to judge, if sentiment has now again got enough Gold bulls. We will see.....
Now the question for you is: "What was, in your opinion the reason for that drop"?
Quick additional note:
my EW best target would be between 650 and 850, but there is an scenario too, where Gold could go as low as 200, but with best chance between 650 and 400. I do not see that in the moment, so I focus medium term @ around 950-1050, and later then 850-650
Structure of the waves will tell us more over time (I hope LOL)
Green pips, long or short,
Markus
- Post #23,991
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- Jul 23, 2013 4:34pm Jul 23, 2013 4:34pm
- Joined Jun 2010 | Status: s = k log W | 20,603 Posts
- Post #23,992
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- Jul 23, 2013 4:49pm Jul 23, 2013 4:49pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- Post #23,994
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- Jul 23, 2013 6:43pm Jul 23, 2013 6:43pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- Post #23,996
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- Jul 23, 2013 10:28pm Jul 23, 2013 10:28pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- Post #23,997
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- Edited 10:44pm Jul 23, 2013 10:35pm | Edited 10:44pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- Post #23,998
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- Jul 23, 2013 10:42pm Jul 23, 2013 10:42pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
{quote} I just started paying attention to the XAU/USD pair a could of weeks ago. I look forward to learn from your post along with more experienced gold traders. I hope to see some posts about the fundamentals as well. I have recently learned that India buys tons of gold. I mean metric tons as well. lol I never knew that before. No wonder they have a movie called "Slum dog Millionaire."
Fundamentals are harder to learn due to the time it takes to research - who - what - where - why - and HOW.
Yet, if you take the time to buy a book on GOLD or SILVER, which usually move in unison you will begin to understand.
Also, watch finance 24/7 news channels, intenet search anything you are unsure about, use RELIABLE sources, like Kitco and Netdania BUT FIRST learn
from the traders HERE @ www.forexfactory.com !!!!!!!!!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- Post #23,999
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- Edited 11:03pm Jul 23, 2013 10:48pm | Edited 11:03pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
{quote} When you say CRUSH, do you mean it will crush up past 1370 or that 1370 will be strong resistance. On my chart, I see that gold has the potential to hit 1400 if it gets past 1350 with some power. But again, I am new to Xau/Usd... so I am probably totally wrong.
Looks like your wildest dreams are coming true...
take a look at the NY close chart....
A bit more steam and 1370 is cooked. anyone who didn't get long on that dip is just well....
Just to round to 5s looks like looks like 1335 (low) & 1345 appx (high) will be a potential support for the interim.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- Post #24,000
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- Edited 10:59pm Jul 23, 2013 10:58pm | Edited 10:59pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News