As if most of Thursday and Friday was not enough... Monday Too... This PA is very painfully frustrating, especially after a decent trendline is broken...
Phew...Patience!!!
Phew...Patience!!!
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
DislikedWhen I trade Gold, I ask myself whom will buy with me,....the response may be European extension to new members and metals uses and other ideas. But the fact remain that Europe has limited interests to buy metals at this levels to support Russia, all people talk about new development of Euro Credit crisisIgnored
DislikedAs if most of Thursday and Friday was not enough... Monday Too... This PA is very painfully frustrating, especially after a decent trendline is broken... Phew...Patience!!!Ignored
Disliked{quote} You have a good point Gold-lover but for the first time since 01.09.2013 4h trend is up since thursday.To see lower below 1290 we first need to see this 4h trend reverse and there is no clue yet. My take is either today or tomorrow with the non farm numbers they will push the price down to 1295 area make everybody sell , take out longs and then make an attack to the upside in the following days.Ignored
Disliked{quote} Thank you for replying. My comment pertains basically to the larger view of where gold is going. I tried last time to upload my chart but the upload failed. I converted my chart into a Bitmap image and tried to upload from computer. Could you plz help me on how to do it.Ignored
Disliked{quote} Interesting, You should look up these following things - all bullion related. INDIAN - Gold buying and Wedding Gold Seasons The LBMA China and it's Gold buying. Australian Gold / Copper ExportsIgnored
Dislikedhey XAU people I have big picture of Gold of last rough 12 months with my thoughts and predictions... ok. this chart is H12, Heiken, XAU/USD and 200 EMA. As you can see Gold has been in general downtrend, starting from 1684 on January 23rd. - so far there painted 3 major consolidation zones 1>2>3 with break-outs in-between. - all 3 zones are part of the 'holy downtrend' - the August break between 2nd and 3rd zones was major but it still got trend back under EMA now current consolidation which as you can see broke recently around 1317 (it has left...Ignored
DislikedOk, so here´s why I´m short gold. technically speaking everything points south, all points are on the chart. What do you think XTrade? (off course I mean the 100sma has been tested as resistance now on the chart) {image}Ignored
Dislikedlook mate, I strongly believe budget agreement moved Gold...it was dying under 1290 for couple days until US gov's temporary fix....experts were expecting gold to remain low if US gov comes to solid resolution BUT since the nature of fixing is temporary and with conditions it makes USD vulnerable even if short term.....this means Gold got back to 'fashion' again...short or long-term. Gold moved up exactly following US senate decision. there was no other major influence. I agree that XAU loves fundamentals...and as per FXCM's USD Index VS Gold -...Ignored
Disliked{quote} hi GqOrlando, I see some wave labels on your chart and want to point out a technicality related to the 'guidelines' of EW: Generally an impulse wave (12345) unfolds between parallel channel lines. As you can see on your chart the wave down had broken channel and this calls into question its function. Due to breaking channel and also the presence of many three wave structures skews my judgement toward this wave down being a triangle (abcde) or even a vanilla A-B-C. The presence of many 3 wave structures and absence of a containing channel...Ignored