Does gold go short here?
You win, you lose. All else is history. The future does not exist.
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #29,645
- Dec 3, 2013 8:55am Dec 3, 2013 8:55am
- | Membership Revoked | Joined Jul 2012 | 4,197 Posts
"It's the Margin, Stupid."
- #29,653
- Dec 3, 2013 11:07am Dec 3, 2013 11:07am
This afternoon was what only can be described as a 'rather nasty trading day'. My bet is that we have finally put in some top here and it should be all the way down till WS close ...
I am just waiting for a chance to enter again, thinking maybe around the 1229-1234 area depending on sentiment and price action
On another story, Litecoin, anyone here in that, I bought loads when they where $1, they are $32 now! I made the mistake of selling 85 bitcoin at $160, lost out on $85000 if i held in, not making the same mistake with LTC haha.
insideBars==boss
- #29,654
- Dec 3, 2013 11:28am Dec 3, 2013 11:28am
- | Joined Oct 2013 | Status: You missed it. So what! Try again. | 625 Posts
Story of gold today.: It opened at 1220.1 and pretty much struggled to sell of below that level. The bankers don't want it to go down just yet because it does not suit their needs at this time. The places to bid were in the grey boxed areas only. Between them was a dog's breakfast and shark infested waters (which I swam amongst and got eaten! Losses limited to less than 1% of balance which means I can trade again tomorrow
) I had a couple winning trades to counteract my losses and came out nearly BE. In all: $%&ing rangebound day. Should have stayed in bed.
) I had a couple winning trades to counteract my losses and came out nearly BE. In all: $%&ing rangebound day. Should have stayed in bed. You win, you lose. All else is history. The future does not exist.
- #29,656
- Dec 3, 2013 1:01pm Dec 3, 2013 1:01pm
- Joined Jan 2013 | Status: Trading defies logic | 4,643 Posts
When the facts change I change my mind, what do you do sir
- #29,657
- Dec 3, 2013 9:58pm Dec 3, 2013 9:58pm
- Joined Jul 2011 | Status: good | 4,295 Posts
My silver analysis was bang on. At this point I think I can forecast a fly's landing spot on a bull's ass with a southwesterly wind {image}
Nice one, Pip Anon!
Now tell us, oh Sage Anon, whenceforth from current levels?
I just can't get a handle on what Gold and Silver are in the process of resolving... down more? violent upmove? or sudden sideways? Due to TA uncertainty I'm not trading Gold/Silver but keeping an eye out for direction.
cryptocurrency everytime
- #29,660
- Dec 3, 2013 11:27pm Dec 3, 2013 11:27pm
- Joined Jan 2013 | Status: Trading defies logic | 4,643 Posts
{quote} Nice one, Pip Anon! Now tell us, oh Sage Anon, whenceforth from current levels?
Now, US prints good data, then gold retests lows 1179 I believe. I still hold a 1038 Q1 target. Silver is a little tricky because it's just more volatile day-to-day, but I believe a retest of yearly lows are in order. Being a bear, I see a retest of two year low at 18.19.
Then again, poor data you'll see a pull back. That's a trading opportunity not a carry opportunity. I strongly advise against carrying spot. You want gold buy bullion, and you only buy bullion for one reason - inflation.
The only way I see the metals retesting highs is if the Fed increases QE
When the facts change I change my mind, what do you do sir