Well thank you Mr Gold fake out manipulator. You just gave me my next targets.................Bloody http://www.dailyfx.com/forex_forum/i...ilies/cool.png 
Money Makes Money
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #26,362
- Oct 10, 2013 7:57am Oct 10, 2013 7:57am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #26,364
- Oct 10, 2013 8:05am Oct 10, 2013 8:05am
it doesn't make any sense: jobless claims explode, gold jumps and minute later implodesdoes anyone know what's going on? i am at work and have limited time to read news...thanks!
* Dollar rebounds from eight-month lows
* Obama meets lawmakers to resolve budget impasse
* Fed minutes shows most board members still expect tapering
* Physical buying weak at current price levels
- #26,366
- Oct 10, 2013 8:15am Oct 10, 2013 8:15am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
Reading the news :nerd:screws with your vision. If ya know what I mean.
- #26,368
- Oct 10, 2013 8:28am Oct 10, 2013 8:28am
- | Commercial User | Joined Sep 2013 | 2,500 Posts
Reading the news :nerd:screws with your vision. If ya know what I mean.
Money Makes Money
- #26,370
- Oct 10, 2013 8:32am Oct 10, 2013 8:32am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #26,371
- Oct 10, 2013 8:33am Oct 10, 2013 8:33am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
....reading the news but not trading it.
- #26,372
- Edited 10:45am Oct 10, 2013 8:34am | Edited 10:45am
it doesn't make any sense: jobless claims explode, gold jumps and minute later implodes
As can be seen on this 5-minute chart, gold moved up 127% of the overnight range, triggered sell orders, then fell to 127% of the overnight range which is why it is often better to avoid NY market open and instead use opening range strategy if your trading strategy does not allow for this degree of volatility or you don't otherwise have targets in mind or just to be safe from being whipsawed in both directions.
You can always make money tomorrow provided you don't lose it today.
- #26,374
- Oct 10, 2013 8:40am Oct 10, 2013 8:40am
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #26,377
- Oct 10, 2013 10:32am Oct 10, 2013 10:32am
- | Joined Jul 2013 | Status: Trader | 1,494 Posts
If we revisit $1278 Oct 2nd low more likely my max wave 5 of 1 target zone $1240 - $1233 will be reached: {image}
can we move the no.1 wave on the current bear wave from 1430 to the no.3 .. that way the fibo. nos. would match
A trade should be based on an assumption based on facts
- #26,380
- Oct 10, 2013 11:16am Oct 10, 2013 11:16am
- | Joined Jul 2013 | Status: Trader | 1,494 Posts
{quote} {quote} I'm not that familiar with the mining industry and it's historical conditions, but here's an opinion for you: I reckon we're in the same recession that started in 2000. Have a look at a longterm Dow or S&P chart and you'll see what i mean. Regarding demand, i can only speak about what i see and read: Ask any person if they want Gold or not - they will want it and won't revile it - i guarantee you. As an example, here in Thailand, the Gold price is in the news all day long. Whenever the price has dropped (even a little) people start...
Charts you say.. If you look at a reversal, it's more or less a mirror image
think head and shoulders..Why everyone wants gold? Its in the genes. Talk about Indians, I'm an Indian and was gifted a gold chain at 15
.. Now the CBs , someone has to buy when everyone sells and vice versa, them controlling the financial system. I don't know what interest you mean, my only interest remains the price action, this being the first time I've thought of anything other than PA and I don't know why the collusion/manipulation.in the Mad Max future everyone is scaremongering, I reckon a mango (and water) will be worth more than any Gold coin
Nothing is real, not even the lots we trade :/
One interesting thing.. DXY between 2000 and now is in a $50 range and presently at 1/5=.2 from the bottom.. Gold is approximately at .3 from top .. at what point do we cross? I don't really know what I mean here
A trade should be based on an assumption based on facts