Only Gold! | Page 120 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Journal (only my take) 433 replies

Trading gold and silver only 59 replies

An idea for building wealth...using only gold 9 replies

GOLD traders only 90 replies

Attachments: Only Gold!
Exit Attachments

Only Gold!

  • #2,381
  • Feb 14, 2014 7:01am Feb 14, 2014 7:01am
Quoting gspajon
...The basics of order flow would seem to say (at this point anyway) that the buyers are absorbing all the sell orders and sooner or later the sellers are going to give in...when that happens you will hear a "giant sucking sound" as prices rocket higher....
Bears have given up and/or stopped out...the only question now remains are there enough bulls to sustain the upward momentum?
Attached Image (click to enlarge)
Click to Enlarge Name: xauusddaily.png Size: 52 KB
  • #2,382
  • Feb 14, 2014 7:46am Feb 14, 2014 7:46am
Someone here was asking for Moon Phase indicator for MT4, I don't remember where I downloaded it from, but here below I have setup a DL link for the same:

http://www.goldguru.in/downloads/MoonPhases.rar

I have posted a screenshot with the settings earlier, here it is again.
Attached Image
Hello World!
  • #2,383
  • Feb 14, 2014 8:01am Feb 14, 2014 8:01am
Nice little pullback to 5M support line 1314.

I've started to rebuild longs from 1315.

Weekly close above 1320 would be brilliant.
To live a successful life, we must lose our fear of being wrong
  • #2,384
  • Feb 14, 2014 8:10am Feb 14, 2014 8:10am
Just as I thought, market extending higher to 200 EMA on daily. I've added to my shorts. I see short covering, stop hunting, and a market reacting to emerging market woes & bad weather statistics.
"The market can remain irrational longer than you can remain solvent"
  • #2,385
  • Feb 14, 2014 8:32am Feb 14, 2014 8:32am
Quoting anton.olff
Just as I thought, market extending higher to 200 EMA on daily. I've added to my shorts. I see short covering, stop hunting, and a market reacting to emerging market woes & bad weather statistics.
Why have you already added to your shorts, while the gold price is still going up?
  • #2,386
  • Feb 14, 2014 9:30am Feb 14, 2014 9:30am
@anton.olff

what are the fundamentals you see driving gold down?
you brobably have said it at some point but this is a huge thread
  • #2,387
  • Feb 14, 2014 9:37am Feb 14, 2014 9:37am
Quoting evil pip
@anton.olff what are the fundamentals you see driving gold down? you brobably have said it at some point but this is a huge thread

1) little inflation and need for hedge. Inflation is not likely to increase soon (more deflationary pressures). When it does, we will see interest rates higher.

2) current weather conditions aside...improving economies, especially UK and USA...and even EU to some extent.

3) QE trap. It has not been as effective as central bankers have thought, nor has it increased inflation. It will be ended, and we are even likely to see interest rate increases, despite the soft words of bankers.

4) other than emerging market shifts due to easy money being taken off the table, no pending EU crisis like we have had over last 5 years.

5) Seasonal. Chinese New Year is over. Indian buying season too.
"The market can remain irrational longer than you can remain solvent"
  • #2,388
  • Feb 14, 2014 10:37am Feb 14, 2014 10:37am
I found this very interesting, thought I should share here..


Source: https://www.facebook.com/ynspiration
Attached Image (click to enlarge)
Click to Enlarge Name: awakening.jpg Size: 126 KB
Hello World!
  • #2,389
  • Feb 14, 2014 11:34pm Feb 14, 2014 11:34pm
Quoting ClockTrader
{quote} I 100% agree with NO NEW LOW.
your core position long ?

I loaded some gold stocks during drop ending december.

it is possible tune has already changed and printing is back ??!?!!?!? Based on intensity of riots globally, this seem only realistic option left to avoid revolutions.

if gold hits new high, gold stock will make significant move. if not gold stock are beaten down and downside is limited.
  • #2,390
  • Feb 16, 2014 4:24am Feb 16, 2014 4:24am
My outlook on gold:

As you can see on the attached charts, looking at the 4HR, we have had a clear breakout of the upwards channel. 1300 was a key level to also break and had a weekly close last week of 1318.24. PA never lies and that is the only thing that tells the truth. I see no selling opportunities at all in the current price range. For me, its buying on the pullbacks to 1360 this week. 1360 will then decide based on 4HR & Daily candles if it is to continue north to 1400. My two main resistance levels now I am concentrating on is 1360 + 1400. 1280 is a key support level with 1280-1260 being my support zone. I will have buy orders waiting here again if it is to return to these levels before heading further north.

On the attached daily chart you can see (1) as my first major TP and (2) as second. We could potentially see it reaching the previous high at 1433 based on PA at 1400 in the near future however I have no intention of shorting this yet.

This week ahead, I expect to see some form of pullbacks, but with 1360 the key price in mind.

The fact that we have clearly broken out of the upward channel since the beginning of the year is a confirmation for me of direction for the coming weeks/months.

Most of you know I trade PA over anything else. This is just my view on the week ahead, it's not an indication telling anyone what do.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: xauusddaily.png Size: 40 KB
Click to Enlarge Name: xauusdh4.png Size: 50 KB
To live a successful life, we must lose our fear of being wrong
  • #2,391
  • Edited 9:27am Feb 16, 2014 8:05am | Edited 9:27am
Quoting seaman2
{quote} your core position long ? I loaded some gold stocks during drop ending december. it is possible tune has already changed and printing is back ??!?!!?!? Based on intensity of riots globally, this seem only realistic option left to avoid revolutions. if gold hits new high, gold stock will make significant move. if not gold stock are beaten down and downside is limited.
You are one of the oldest guys here, I'm really glad to see you around. Being that said, I'm sure you know how much I love seasons. My long term core positions would always rest on seasons, so, for obvious reasons, I have not yet taken seasonal / event based positions yet. We are trading around historic lows, so, been a paranoid. Long term means serious business, I can play light, while away time until I see a ripe opp..

This is also the reason I failed to go long for long term from 1180 and I'm still awaiting for ripe time. I may have missed the train, yet, I would like to stick to my seasons strategy + some new long term event based fundamentals.

I have been inclined towards shorts lately on broad level, as visible, I failed a few times, got hit, made some from intraday / clock scalps. Overall, nothing exciting lately.

Ever since I started this thread about 9 months back, my strategy & expertise has been evolving rapidly. The long term core positions remain dependent on seasons + some new event based fundas. For rallies, swings, clock scalps & other such trades, my strategy now depends on below fundas:

 

  1. Clock Settings (some key hrs of the day)
  2. Trying to catch SL areas of Americans
  3. Volatility (I love M15 & H1 too)
  4. Lunar Cycles (Calendar Settings: key days in addition to New/Full Moon)


I am also trying to attain super fitness on physical as well as mental front for wealth.


edit*: typos like time, now

Hello World!
  • #2,392
  • Feb 17, 2014 1:43am Feb 17, 2014 1:43am
glad to see you progressing.

I play gold reasonably heavy buy have not scored big yet this year. couple of cents or dollar failed 2x to get me into long trade.

not complaining, this is my system and nothing is perfect.

however, we correctly so far predicted that low in gold will not be breached.
  • #2,393
  • Feb 17, 2014 3:49am Feb 17, 2014 3:49am
Quoting seaman2
glad to see you progressing. I play gold reasonably heavy buy have not scored big yet this year. couple of cents or dollar failed 2x to get me into long trade. not complaining, this is my system and nothing is perfect. however, we correctly so far predicted that low in gold will not be breached.
I could not see any reason why Gold in August or a bit later would breach June low, this is 2013 we are talking. However by the end of 2013 I discovered a new layer for long term which showed why it got back to 1180 and then on top of that another new layer which showed why it jumped so high till today's 1330 instead of falling below 1180. I'm sure you would agree how learning goes on & on & over & over & it never ends. Golden seasons remain the most dependable key for me so far, solid like steel.

As for this year, I am awaiting seasonal opportunities & some event based key time-frames. I am trying to while away time with intraday & clock-activated-trades here until I see a ripe opp..

On other note, today I finished my new version of Au-Analytics (typical technical stuff) did a back test from Oct-2013 until Feb-2014, very interesting & promising thus far. I'm gonna practice it & improve it in the next few months.

For today it looks like sideways is in action, I hope we get some clear direction by tomorrow or may be earlier? Lets see how it plays out.
Hello World!
  • #2,394
  • Feb 17, 2014 4:02am Feb 17, 2014 4:02am
Quoting ClockTrader
{quote} I could not see any reason why Gold in August or a bit later would breach June low, this is 2013 we are talking. However by the end of 2013 I discovered a new layer for long term which showed why it got back to 1180 and then on top of that another new layer which showed why it jumped so high till today's 1330 instead of falling below 1180. I'm sure you would agree how learning goes on & on & over & over & it never ends. Golden seasons remain the most dependable key for me so far, solid like steel. As for this year, I am awaiting seasonal...
I see 1321 as key support level for today.

1326.8 being a key level to stay above today for further push north.

Good luck CT with your Au-Analytics.
To live a successful life, we must lose our fear of being wrong
  • #2,395
  • Feb 17, 2014 5:35am Feb 17, 2014 5:35am
The RSI is bullish and calls for further upside. Gold prices broke above a declining channel resistance; this has opened an upward path to 1361 and even 1400
  • #2,396
  • Feb 17, 2014 5:39am Feb 17, 2014 5:39am
Gold has broken the downtrend, and we are going to see some buying come in, Lance Roberts, who oversees $US600 million ($A671.44 million) as chief executive officer of STA Wealth in Houston, said in a telephone interview.
Yellen and the Fed will definitely not take away the stimulus since it is becoming increasingly clear that the economy is not healthy.
  • #2,397
  • Feb 17, 2014 6:57am Feb 17, 2014 6:57am
Quoting EatPIPs
{quote} I see 1321 as key support level for today. 1326.8 being a key level to stay above today for further push north. Good luck CT with your Au-Analytics.

The SL for my longs is @ 1319 & for shorts around 1345, everyone be informed that I'm trying to practice a strategy to see how well it works. Practicing on simulator is completely different than demo trading & then again its totally different from trading with real money.

Quoting Syed83
The RSI is bullish and calls for further upside. Gold prices broke above a declining channel resistance; this has opened an upward path to 1361 and even 1400

I would not be surprised if it keeps climbing, I won't be surprised with a fall either. The chances of fall look bleak.
Hello World!
  • #2,398
  • Feb 17, 2014 7:27am Feb 17, 2014 7:27am
Quoting ClockTrader
I found this very interesting, thought I should share here.. Source: https://www.facebook.com/ynspiration {image}
If you like this, clocktrader, what about this here: http://www.forexfactory.com/showthre...32#post7285432. You like this thread?
  • #2,399
  • Feb 17, 2014 7:32am Feb 17, 2014 7:32am
Quoting clocktrader
{quote} the sl for my longs is @ 1319 & for shorts around 1345, everyone be informed that i'm trying to practice a strategy to see how well it works. Practicing on simulator is completely different than demo trading & then again its totally different from trading with real money. {quote} i would not be surprised if it keeps climbing, i won't be surprised with a fall either. The chances of fall look bleak.
agreed. I also changed my sl to 1319
  • #2,400
  • Feb 17, 2014 8:36am Feb 17, 2014 8:36am
Quoting bernbeach
{quote} If you like this, clocktrader, what about this here: http://www.forexfactory.com/showthre...32#post7285432. You like this thread?
I go fruit fasting once a week, these days its Mondays.

I gave up eating poultry meat few months ago

Eat Fish & eggs

Eat only pure veg on 2 + 1 days in a week.

=)

PS: That video was enlightening.
Hello World!
87 traders viewing now