Only Gold!

its gonna be high volatility .....nothing like ..SL hunting ... but as per technicals ... 1290-1300 still possible

Yes, I've moved my stops a bit higher in anticipation of very high volatility. I think it could pierce the 1300 mark...

I closed last few shorts (fractional profit), there is always another day.

When I'm lost & direction-less I can always play light. I'll see what I can do tomorrow.

good luck.i am a junior member and you know much better than me.
yes i believe in this "there is always another day, market will open tomorrow" just take a loss and wait for next opportunity.
but for today i want to add one thing, we are expecting 10b cut but what if FOMC give a surprise not to cut due to EM conditions.
then should we take an opportunity in gold to long?
can expect 1300 today if got surprise?

short at 1262.8 sl 1268 tp 1254

The die has been cast...and tapering is in motion, gold prices are even more likely to decline in the months ahead. While gold might spike, it is all the more reason to add to shorts. I just did, as well as a few longs on USD/JPY. Wish I had the resources to short silver!

Gold hardly moved... seems like fed decisions on tapering are becoming a non-event.

Fantastic ...another 10Bn ..... let's the game begin ..down down ..let's go

That is due to all those f**king algos. They keep market movement somewhat "restrained" in the short term. If you recall how trading was a few years ago before algos had replaced human traders, gold prices would flash up or down shown by huge candlesticks on 30 minute charts.

Best strategy I have found is longer term trades supplemented by scalping and some range or swing trading.

According to EW ..wave 4(Down) will strategy after hit 1271.. . however some technicals still pointing upside ... let's see I am holding shorts

IT is my point of view on GOLD, for me corretion on US index will be deeper, so gold wil be run UP!

As I said, it may indeed go up...but over longer period, it is more likely to go down.

Pending orders at 1272-85 range ...No SL .TP open (1150 first) . now I believe 1180 will break like a glass no support at all

Try playing light with SL 15 $s away. Instead of one large short with SL $5 away, cut your weight into 4. If it was a scalp it'll be no fun sharing here.

My inclination remains toward shorts.

I would suggest use SL. It may not reach 1285.

Wee hrs here, still awaiting full fledged daylight, might try shorts, but, too early to say anything.

hello all,
ive been lurking for a while but am just deciding to post

ClockTrader I think your seasonal trading strategy is great, however i have a few questions.
-in the past 10 years India has been by far the largest consumer of physical gold in the world however between China now being the largest consumer AND the current import restrictions on gold in India, m sure alot gets thru black market but it still has to be cutting down purchasing significantly, have you taken these into account in your current trading?

people who are saying that the taper will cause gold to crash
-this is QE3, so QE1 and QE2 had a 100% taper at the ending and there was no big pull back in gold at those time. QE3 is the first round of easing that has not had a large rally in gold seems likely to me that taper is priced in. so why should ending QE3 be so different then 1&2

I trade based on volume and price action(will admit i am not doing great but that is me getting emotional about my trading not the strategy itself)
the last 3 months there has been no followthru on any big down day except on 12/19 and that was the ending(maybe) of a retest of the low which was a long grinding move. so i see this as the likely end of the downmove from a technical perspective.

from a fundamental view comex and JPM inventories are at all time lows, germany is having a hell of a time getting a tiny bit of its gold back from NY,
majority of traders are now short gold so if anything unexpected happens(lehman) people will be short covering unlike in 08,
producers are starting to cut back production because of the low prices. China likely to release new gold reserve numbers in April

1266 is a major support/resistance level going back to june of 2010 and it looks like that is holding to the upside
all that said I would not go long yet as it is not in a uptrend yet it just appears to be bottoming out and could still drop but I think it will start heading up soon

ive been enjoying reading all of your thoughts for a while now so thanks for all your posts

> ive been lurking for a while but am just deciding to post

----> OMG You lurked here for 7 years before making your first post? You got hell of a patience man, Hats off to you! I'll try my best to throw light as much.


> ClockTrader I think your seasonal trading strategy is great, however i have a few questions.
> -in the past 10 years India has been by far the largest consumer of physical gold in the world however between
> China now being the largest consumer AND the current import restrictions on gold in India, m sure alot gets thru
> black market but it still has to be cutting down purchasing significantly, have you taken these into account in your current trading?

----> Golden Seasons are definitely inspired from how things work in India, but technically its about seasons. The seasons will have to change, if they change, I would alter my Theory to "Buy when Sun is closest to Earth & sell that stock when Sun is farthest from Earth" Bingoooooo!


> people who are saying that the taper will cause gold to crash
> -this is QE3, so QE1 and QE2 had a 100% taper at the ending and there was no big pull back in gold at those time.
> QE3 is the first round of easing that has not had a large rally in gold seems likely to me that taper is priced in.
> so why should ending QE3 be so different then 1&2

----> When Gold is bought on Earth in loads in physical form by masses, that will cause the price to rise & vice-versa. On the other hand, when people buy shit loads of Gold in Forex, that will bring the Gold Price down & vice-versa. I'm honestly tired of seeing people expecting Gold price to rise when loads are bought in Forex. If I'm wrong I would rely only on someone who is from deep inside Comex Inc. As for QE, when it tapers the Gold price should fall, now don't connect timing the way people do. Look at it on broad level. "In other words, when prosperity, growth, expansion (GDP) in the world falls, the Gold price should Fall too"


I trade based on volume and price action(will admit i am not doing great but that is me getting emotional about my trading not the strategy itself)
the last 3 months there has been no followthru on any big down day except on 12/19 and that was the ending(maybe) of a retest of the low which was a long grinding move. so i see this as the likely end of the downmove from a technical perspective.

----> I'm trying scalping based on Volume & PA, few days so far, its all like foreign language to me, but, worth trying.


> from a fundamental view comex and JPM inventories are at all time lows,
> germany is having a hell of a time getting a tiny bit of its gold back from NY,
> majority of traders are now short gold so if anything unexpected happens(lehman)
> people will be short covering unlike in 08,
> producers are starting to cut back production because of the low prices. China likely to release new gold reserve numbers in April

----> I'm expecting Gold to touch close to 1100 by late Feb or early March. Time will tell if I'm right or wrong.


> 1266 is a major support/resistance level going back to june of 2010 and it looks like that is holding to the upside
> all that said I would not go long yet as it is not in a uptrend yet it just appears to be bottoming out and could still drop
> but I think it will start heading up soon

----> If I'm wrong about Gold Fall, I would follow my Golden Seasons.


> ive been enjoying reading all of your thoughts for a while now so thanks for all your posts


----> A guy like you? The pleasure is all mine.

A few of my current longs have been positively stopped out. I am now only holding a few and will add more on pullbacks.

1230 is the key price I am looking at. Any major fall below this figure and especially looking for a daily close then I will close out my longs.

According to my technicals, PA is no doubt in an upwards channel that is just ranging. However it is upwards.

My initial first TP is 1280. A daily close above that will then be looking at my next TP at 1300.

Gold will reach 1000 soon. IMHO.

"Soon" is a term that is used out of context these days IMHO.

Well load up short then ... you can be the bait.