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  • #1,041
  • Aug 27, 2013 4:20am Aug 27, 2013 4:20am
my system spit long signal in oil stocks. loaded medium sized position.

if signal not faulty, then looks like we have war again.
  • #1,042
  • Aug 27, 2013 7:04am Aug 27, 2013 7:04am
Quoting Scalptastic
Central banks buying again (The central banks of Russia, Azerbaijan and Kazakhstan returned to the gold market once again in July, topping up their stockpiles of the precious metal as prices traded near three-year lows.) + developments in Syria give me the long bias. I may short from resistance zones if I get reversal signals. 1423 looks likely to me. {image}
There is a famous Fibo and a resistance at 1416 and the gold market is in overbought conditions. There is a double top pattern seen at 1407 and a correction looms large before it touches 1423. I would exit longs and have shorts in the market. there is a bearish reversal pattern seen and gold should ideally correct itself towards 1386 which will be supported at 1375 and this is where we buy again for one more upswing towards 1422.

Interesting to note that European investors are taking the syrian political situation seriously. We have to see what would happen in the US trading session. If the economic situation in the coming weeks improve, we may not see gold going beyond 1431 and we will see a plunge back to 1200. Either way my opinion, I foresee huge up and downswings for gold in the coming week
  • #1,043
  • Aug 27, 2013 7:10am Aug 27, 2013 7:10am
Quoting korriok
{quote} There is a famous Fibo and a resistance at 1416 and the gold market is in overbought conditions. There is a double top pattern seen at 1407 and a correction looms large before it touches 1423. I would exit longs and have shorts in the market. there is a bearish reversal pattern seen and gold should ideally correct itself towards 1386 which will be supported at 1375 and this is where we buy again for one more upswing towards 1422. Interesting to note that European investors are taking the syrian political situation seriously. We have to see...
This is roughly my analysis too, though I think gold could extend up a bit higher towards 1450 before coming down. In the short term though, the pending war in Syria over WMD (here we go again!), weaker economic conditions than the so called "experts" previously thought, bank buying (and consumer buying in India and China), there is a long bias. Upcoming U.S. consumer confidence could be key signal today, especially as volumes are still in summer mode.

I closed my longs for small profit, now looking for shorts.
"The market can remain irrational longer than you can remain solvent"
  • #1,044
  • Aug 27, 2013 8:12am Aug 27, 2013 8:12am
Quoting korriok
{quote} There is a famous Fibo and a resistance at 1416 and the gold market is in overbought conditions. There is a double top pattern seen at 1407 and a correction looms large before it touches 1423. I would exit longs and have shorts in the market. there is a bearish reversal pattern seen and gold should ideally correct itself towards 1386 which will be supported at 1375 and this is where we buy again for one more upswing towards 1422. Interesting to note that European investors are taking the syrian political situation seriously. We have to see...

I don`t watch overbought | oversold indicators as those are lagging.
  • #1,045
  • Aug 27, 2013 9:06am Aug 27, 2013 9:06am
Gold going down to 1375.... Doji star bearish moderate trend reversal pattern recognized. Go short to 1384. Support at 1375
  • #1,046
  • Aug 27, 2013 9:23am Aug 27, 2013 9:23am
Yep I closed my longs from 1400 @ 1420 and shorted @ 1417 looking to take off @ 1392 then wait for a clearer picture.

Strong uptrend resuming.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4.png Size: 84 KB
To live a successful life, we must lose our fear of being wrong
  • #1,047
  • Aug 27, 2013 12:35pm Aug 27, 2013 12:35pm
All my shorts have been hit, took a good loss. Closed all my positions, long roots too. Once again got a clean slate now. This time, my account doesn't look bad, but good. I hope I'm able to hold my horses for a week, no positions at all.
Hello World!
  • #1,048
  • Aug 27, 2013 12:43pm Aug 27, 2013 12:43pm
I have a position sell on 1420.63

Right or closed now ?
  • #1,049
  • Aug 27, 2013 10:27pm Aug 27, 2013 10:27pm
Wouldn't it be easier if we could put all the feds and the syrian leaders in a room and ask them to fight to death??. It would help investors to focus their time on the economic development of the world than on the actions of Organized crime.

Gold to come down from 1423 - 1427 to 1389 - 1392. uptrend still intact and strong but its about time, the yellow metal probably checks its support before going back up
  • #1,050
  • Aug 27, 2013 10:37pm Aug 27, 2013 10:37pm
I guess letting the feds and the syrian leaders into a room could lead to biological warfare. One would probably fart their way to glory and the others would just wear their face masks in their armoury. Hey that rhymes . Get the world leaders in there too. Probably the EURO might want to go up, the rupee would want to go down. Yen would vaporize, CAD and AUD would want parity and the GBP will want to rule again. Gold will follow silver and silver will still keep deciding whether it wants to go down or up
  • #1,051
  • Aug 28, 2013 2:11am Aug 28, 2013 2:11am
My gold chart for today. Expecting a retracement before next leg higher.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD1.JPG Size: 48 KB
  • #1,052
  • Aug 28, 2013 4:14am Aug 28, 2013 4:14am
what the support and resistant today ?

i want a good price buy today plz dont skipped me
  • #1,053
  • Aug 28, 2013 4:42am Aug 28, 2013 4:42am
Quoting EatPIPs
Yep I closed my longs from 1400 @ 1420 and shorted @ 1417 looking to take off @ 1392 then wait for a clearer picture. Strong uptrend resuming. {image}
Took off my shorts yesterday in profit and reloaded long after week pullback. 1430 reached now reloaded again 1425 looking for 1432 to take off.
To live a successful life, we must lose our fear of being wrong
  • #1,054
  • Aug 28, 2013 8:48am Aug 28, 2013 8:48am
Big red candle this last hour?

1412 will hold?
To live a successful life, we must lose our fear of being wrong
  • #1,055
  • Aug 28, 2013 9:46am Aug 28, 2013 9:46am
Quoting EatPIPs
Big red candle this last hour? 1412 will hold?
My Paper trade = 4 positions short @ 1420, SL @ 1440
Hello World!
  • #1,056
  • Aug 28, 2013 10:15am Aug 28, 2013 10:15am
Quoting ClockTrader
{quote} My Paper trade = 4 positions short @ 1420, SL @ 1440
For me 1415 - 1412 is a decider whether to stay in or get out of longs.
To live a successful life, we must lose our fear of being wrong
  • #1,057
  • Aug 28, 2013 11:55am Aug 28, 2013 11:55am
Quoting EatPIPs
{quote} For me 1415 - 1412 is a decider whether to stay in or get out of longs.
I am in 2 longs (one at 1416, the other at 1419). Think we will see another shot at 1430 by tomorrow morning (EST), especially if U.S. GDP and/or unemployment claims disappoint. With war in the air, and new home sales numbers below expectations, could see it stretch to 1,450
"The market can remain irrational longer than you can remain solvent"
  • #1,058
  • Aug 28, 2013 12:19pm Aug 28, 2013 12:19pm
Quoting anton.olff
{quote} I am in 2 longs (one at 1416, the other at 1419). Think we will see another shot at 1430 by tomorrow morning (EST), especially if U.S. GDP and/or unemployment claims disappoint. With war in the air, and new home sales numbers below expectations, could see it stretch to 1,450
1HR chart attached - blue box for me is current critical zone on technical basis.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh1.png Size: 62 KB
To live a successful life, we must lose our fear of being wrong
  • #1,059
  • Aug 28, 2013 2:37pm Aug 28, 2013 2:37pm
1415.06 has had it's 3rd test today and it's been holding... Still confident in the bulls.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh1.png Size: 63 KB
To live a successful life, we must lose our fear of being wrong
  • #1,060
  • Aug 28, 2013 4:29pm Aug 28, 2013 4:29pm
Quoting EatPIPs
1415.06 has had it's 3rd test today and it's been holding... Still confident in the bulls. {image}
The rebound has been generated by an excess of negative sentiment, but I think it will be difficult to rise above 1450.
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