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  • #2,221
  • Jan 30, 2014 11:08pm Jan 30, 2014 11:08pm
Quoting acidguy
ive been trading gold almost every week, scalping to the upside, yet gold still keep closing lower on daily basis so its technically on downtrend and may be getting ready for a nice movement, market has been very quiet in price range, not surprise if we hit 1200 in less than two weeks, will keep longing as price falls below 1210 without stop losses, also will be shorting with less lots if it goes current high range $1280 area with stop losses.
CMP @ 1244, if it goes above 1255, I'll begin to close my shorts.
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  • #2,222
  • Jan 31, 2014 7:41am Jan 31, 2014 7:41am
Quoting ClockTrader
{quote} CMP @ 1244, if it goes above 1255, I'll begin to close my shorts.
Took a little loss as soon as it hit 1255, my inclination on broad level remains toward SHORT. Here is all I'm left with right now. I hope I get a clean chance to short next week. Today was confusing & bad day for my shorts. Lets see where it closes for weekend.
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  • #2,223
  • Jan 31, 2014 8:04am Jan 31, 2014 8:04am
Gold rising cause ..stocks bleeding like a hell....
  • #2,224
  • Jan 31, 2014 8:17am Jan 31, 2014 8:17am
Quoting acidguy
ive been trading gold almost every week, scalping to the upside, yet gold still keep closing lower on daily basis so its technically on downtrend and may be getting ready for a nice movement, market has been very quiet in price range, not surprise if we hit 1200 in less than two weeks, will keep longing as price falls below 1210 without stop losses, also will be shorting with less lots if it goes current high range $1280 area with stop losses.
Market is essentially trading sideways with ranging movement between 1240 and 1260. I am scalping shorts mostly, though have two open shorts at 1244 and 1253. Technically, market looks more towards the buy side, and with low inflation...some would say deflation...market could be waiting for signals from ECB.
"The market can remain irrational longer than you can remain solvent"
  • #2,225
  • Jan 31, 2014 9:44am Jan 31, 2014 9:44am
Quoting ClockTrader
{quote} Took a little loss as soon as it hit 1255, my inclination on broad level remains toward SHORT. Here is all I'm left with right now. I hope I get a clean chance to short next week. Today was confusing & bad day for my shorts. Lets see where it closes for weekend. {image}
Freaky Friday Booooooooooom. Most of my longs are gone creating imbalance, shorts left, trying a bit of scalping. If shorts blow up too, I may be left with a clean slate, damn, I really hate starting with a clean slate.
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  • #2,226
  • Feb 1, 2014 1:42pm Feb 1, 2014 1:42pm
hey Clock thanks for the reply

I dont remember why i created an account back in 07 but ive been on and off the forum since then but only reading.

I guess on the Golden Seasons seems to me that it workx because of gold buying in india and if that has changed the system would not work as well, but i am could be missing something

your reply to QE makes sense, but it is assuming the fed is tapering because of growth in the economy but it seems like what is going on right not is not a strong economy. but this is fundamentals and does not effect the price day to day only longer term, like you said dont trade the news, Ill trade the charts
  • #2,227
  • Feb 2, 2014 1:42am Feb 2, 2014 1:42am
NEXT WEEK Projection :: The lower edge of the rising wedge on the weekly sits under 1150.. In my view ..better to short on every rise and hold .. it could hit 1208 and there we will see a sharp decline towards. 1170-50 .. ..and silver. 18-17.70.. so overall gold n silver remain weak ..targets 1150 n 17.70 respectively ...good luck to all
  • #2,228
  • Feb 2, 2014 7:42pm Feb 2, 2014 7:42pm
Quoting rambo12
NEXT WEEK Projection :: The lower edge of the rising wedge on the weekly sits under 1150.. In my view ..better to short on every rise and hold .. it could hit 1208 and there we will see a sharp decline towards. 1170-50 .. ..and silver. 18-17.70.. so overall gold n silver remain weak ..targets 1150 n 17.70 respectively ...good luck to all
While I agree with your analysis, I have only one "Hail Mary" short open. I will be more cautious this week though I would love to add more shorts if market moves higher, though I think this week's news is going to put the V in volatility. U.S. NFP could be a trend setter. If the last jobs report was a one off event, then gold could move quite rapidly to 1150 as you say. However, another bad report and gold is likely to hit 1330
"The market can remain irrational longer than you can remain solvent"
  • #2,229
  • Feb 2, 2014 8:46pm Feb 2, 2014 8:46pm
Quoting ClockTrader
{quote} Freaky Friday Booooooooooom. Most of my longs are gone creating imbalance, shorts left, trying a bit of scalping. If shorts blow up too, I may be left with a clean slate, damn, I really hate starting with a clean slate.
Looks like its going to take a while before Gold will crash, well, I can wait. However, if it does fall today, I'd be a content with my shorts. Hedged some shorts again.

Quoting evil pip
hey Clock thanks for the reply I dont remember why i created an account back in 07 but ive been on and off the forum since then but only reading. I guess on the Golden Seasons seems to me that it workx because of gold buying in india and if that has changed the system would not work as well, but i am could be missing something your reply to QE makes sense, but it is assuming the fed is tapering because of growth in the economy but it seems like what is going on right not is not a strong economy. but this is fundamentals and does not effect the price...
Yea, I would never trade US news but rely on PA.
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  • #2,230
  • Feb 3, 2014 8:02am Feb 3, 2014 8:02am
Quoting ClockTrader
{quote} Looks like its going to take a while before Gold will crash, well, I can wait. However, if it does fall today, I'd be a content with my shorts. Hedged some shorts again. {quote} Yea, I would never trade US news but rely on PA.
This week we could see some wild swings as trades liquidate positions and take some new ones. I am scalping until I see a direction, though I think the trend towards 1,000 gold will continue, but maybe delayed if NFP comes in below expectations.
"The market can remain irrational longer than you can remain solvent"
  • #2,231
  • Feb 3, 2014 8:24am Feb 3, 2014 8:24am
I still feel 1350 is on the books and will be very choppy getting there but still with current PA direction is up IMO.
To live a successful life, we must lose our fear of being wrong
  • #2,232
  • Feb 3, 2014 8:36am Feb 3, 2014 8:36am
Quoting EatPIPs
I still feel 1350 is on the books and will be very choppy getting there but still with current PA direction is up IMO.
CMP @ ~1249, another ~10 $ swing-up as per my view.

Quoting anton.olff
{quote} This week we could see some wild swings as trades liquidate positions and take some new ones. I am scalping until I see a direction, though I think the trend towards 1,000 gold will continue, but maybe delayed if NFP comes in below expectations.
On a broad view, my first priority is to Short from peaks & leave them with a +ve SL.
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  • #2,233
  • Feb 3, 2014 9:07am Feb 3, 2014 9:07am
SL of shorts hit +vely, closed longs manually @ 126x, this is what I had in the morning, clean slate now.
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  • #2,234
  • Feb 3, 2014 9:21am Feb 3, 2014 9:21am
Quoting EatPIPs
I still feel 1350 is on the books and will be very choppy getting there but still with current PA direction is up IMO.
I think it will be up too...especially after bad China numbers and now poor U.S. ISM. In any case, QE is the big fundamental news affecting all markets, and the trend is more likely to be down in regards to XAU price action. Added to shorts at 1264.
"The market can remain irrational longer than you can remain solvent"
  • #2,235
  • Feb 3, 2014 9:31am Feb 3, 2014 9:31am
Quoting ClockTrader
SL of shorts hit +vely, closed longs manually @ 126x, this is what I had in the morning, clean slate now. {image}
smells like a new crisis of investor confidence is about to start, i am longing gold and silver right now, shorting oil.
if stock market goes down many of them will transfer the portafolio directly into gold and silver accounts.
  • #2,236
  • Feb 3, 2014 9:58am Feb 3, 2014 9:58am
Quoting acidguy
{quote} smells like a new crisis of investor confidence is about to start, i am longing gold and silver right now, shorting oil. if stock market goes down many of them will transfer the portafolio directly into gold and silver accounts.

Yea, a small phase of distrust is about to re-start, but, will end soon. I've been somewhat unsuccessful trying to short Gold so far.

If the whole world starts buying Virtual Gold (in Forex, after selling stocks), it will bring the Gold down, this is how I see. Have a good one you all, I'll call it a day now.
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  • #2,237
  • Feb 4, 2014 8:54am Feb 4, 2014 8:54am
Quoting acidguy
{quote} smells like a new crisis of investor confidence is about to start, i am longing gold and silver right now, shorting oil. if stock market goes down many of them will transfer the portafolio directly into gold and silver accounts.
It's all about the taper and the strength of the U.S. economy, real and/or just perceived. With UK doing a bit better, and Australia holding rates firm...the one possible stimulus for higher gold prices, will be actions by the ECB. Gold is still more likely to go to 1,000 than it is to 1,400 over the next 3-6 months.
"The market can remain irrational longer than you can remain solvent"
  • #2,238
  • Feb 4, 2014 9:07pm Feb 4, 2014 9:07pm
Tried shorts yesterday too, a futile exercise, made a little. Looks going up today.
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  • #2,239
  • Feb 5, 2014 7:11am Feb 5, 2014 7:11am
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4.png Size: 58 KB
To live a successful life, we must lose our fear of being wrong
  • #2,240
  • Feb 5, 2014 7:52am Feb 5, 2014 7:52am
Eatpips, you are a good earner here.

Quoting ClockTrader
Tried shorts yesterday too, a futile exercise, made a little. Looks going up today.
What looked like long turned out quite long, will post SS later.
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