I'm a rule breaker.
Pardon no guru here either. Just someone who has put in their time.
GoldenEuro Cross (XAU/EUR) GoldenAussi Cross (XAU/AUD) 51 replies
Gold futures & XAU 77 replies
Daytrade - XAU/USD & XAG/USD 14 replies
XAU/JPY & XAG/JPY 13 replies
Successful XAU/USD traders 7 replies
DislikedCould be or could be wishful thinking. Thinking tapering coming in Sept will bring dollar strength. How long and how much is anyone's guess. As always IMO price is most important though - not fundies.Ignored
Disliked{quote} It's conceivable it could push up to 1550 (anything is possibly) especially when one looks at your third chart, which shows the magnitude of the drop, but I see a 50% fib at just under 1500. Furthermore the 38% fib this last week proved too much.Ignored
Disliked{quote} Price often moves due to fundies. Even if the dollar strengthens it does not necessarily mean gold will fall.Ignored
Disliked{quote} i was talking gold but the concept is the same the whole point of technical analysis is to eliminate risk. therefore if you don't have a view or a set up why get in now given the factors i mentioned? the correct trade was to be in silver from the low 19sIgnored
DislikedHi XT ! i saw those charts and I was wondering which were the gold extraction costs through years.Ignored
Disliked{quote} Hey Brother, Those are spot line charts using the historical Lodon fix for whatever day, Are you looking at it in the chart itsef? Or a specific chart?Ignored
Disliked{quote} I gave you the levels, If you pull a retracement fib from 1921 "all time high appx" down to 1181 "the multi year low" 50 % is 1550 It's in the other charts as well. Try looking at a 10 year chart and tell me if that is inconceivable, not even close to being. More interesting look at these longer term charts: The recent correction is almost the SPITTING IMAGE of what happened to price in / around 1980... Next you will likely think, SHIT, Why didn't I buy gold for 450 in 2005!!!! 2005! THE Price has almost quadrupled since then, next Yes!...Ignored
Disliked{quote} Hey Brother, Those are spot line charts using the historical Lodon fix for whatever day, Are you looking at it in the chart itsef? Or a specific chart?Ignored
Disliked{quote} You're positioning your fibs using a different swing to me. ---- You seem to be bullish - are you? Good luck.Ignored
Disliked{quote} I mean historical price you showed , compared with extraction expences of the metal. Excuse my poor english.Ignored
DislikedI'm not sure if it's what is desired but there have been various articles on SeekingAlpha attempting to quantify the "all-in" extraction cost of gold, with varying results. One of the criticisms of any such attempt is that miners supposedly become less efficient as the price of gold goes up, and are forced to become more efficient as the price of gold goes down, so any conclusions drawn at any particular time from a set of static figures are liable to be unusable as an input to any kind of methodology that attempts to calculate the "fair", "true"...Ignored
Disliked{quote} I don't rely on fibs I use them to reinforce S/R I have already made myself, and for day / swing trading because every one uses them meaning large traders, small, banks, hedges, etc. Even if they say they don't they are aware of major levels. Usually you will not see them on my charts. Yet, I am trying to look at major levels and now we have a spread from 1920 appx Reaction High to 1180 a 740 USD per OZ difference. Normally I would have pulled it from The last full swing. So High appx 1780 No wicks to 1215 No Wicks Here is the chart. And...Ignored
Disliked{quote} Take a look at what I am posting here and the link to go with it. It varies from mining area to mining area, mine to mine, and country to country all with one WORLD PRICE!!! So that will be a hard chart to make. {image} {image}Ignored