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Only Gold!

  • #2,421
  • Feb 18, 2014 6:07am Feb 18, 2014 6:07am
I hope you feel healthy & wealthy if/when it falls lower.

Quoting anton.olff
{quote} You have made some excellent points...and I am always open to fresh perspectives. I do agree that inflation is much higher...as well as U.S. unemployment rate. They did change the way they measure inflation, and if we were to use the same criteria as in the past, we would see higher inflation numbers. I also agree with you about Volker...the last great Fed Chairman...but I think tapering is going to have a similar, though more drawn out effect on pricing. We are in agreement about the the labor force, though I disagree about the QE effect...
Hello World!
  • #2,422
  • Feb 18, 2014 6:09am Feb 18, 2014 6:09am
Quoting ClockTrader
{quote} If you've been holding your long term longs & if you sold on top (hedged), why not hold all these in a nice balance. When I do so, the chances of losing the floating profit and possible losses from next trade(s) get mitigated.
I closed out my short hedge trade at 1314 - where I added onto my longs.
To live a successful life, we must lose our fear of being wrong
  • #2,423
  • Feb 18, 2014 6:15am Feb 18, 2014 6:15am
Quoting EatPIPs
{quote} I closed out my short hedge trade at 1314 - where I added onto my longs.
The retracement has been beautiful so far (if it remains above 1312).

If it drops below this, potentially back to the low 1300s then I will rebuild short hedges to there.

Waiting on 4HR candle close.
To live a successful life, we must lose our fear of being wrong
  • #2,424
  • Feb 18, 2014 6:20am Feb 18, 2014 6:20am
"Gold is trading at 1318.90 holding flat this morning after US markets were closed on Monday for the US Presidents holiday. There was little news or data and light trading over the holiday. Gold prices increased around 0.8 percent yesterday on the back of rising trend in gold ETF’s holdings managed under SPDR Gold Holdings Trust. Further, weakness in the DX supported an upside in the prices. Additionally, upbeat market sentiments acted as a positive factor. The shiny metal touched an intra-day high of $1329.72 and closed at $1328.50 in yesterday’s trading session. Taking cues from rise in gold prices, upside in the base metals complex along with weakness in the DX. Silver prices rose around 0.8 percent yesterday continuing it’s recent upwards trend to trade at 21.612 adding 161 points in the Asian session. Gold and silver prices are expected to trade higher today on the back of rising trend in gold and silver ETF’s holdings. Further, weakness in the DX will act as a positive factor.
The two most renowned gold analysts are holding to their bearish forecasts for 2014 even after the metal posted its best start to a year since 1983. Futures rose 9.7 percent in 2014 through Feb. 14, rebounding from the biggest annual drop in three decades, and reached a three-month high. Holdings in exchange-traded products backed by bullion increased by 3.2 metric tons last week, the most since December 2012, after slumping 869.1 tons last year when prices slid 28 percent."

Insight from an Analyst.
To live a successful life, we must lose our fear of being wrong
  • #2,425
  • Feb 18, 2014 7:56am Feb 18, 2014 7:56am
Quoting EatPIPs
Beautiful pullback as expecting this week. Looking for it to hold at the trendline channel around 1315 and 1300 where I will be exiting my sclaped shorts and buy in longs again. Could be an interesting week. {image}
Might go to 1288, which could be closer to bottom of current range.
"The market can remain irrational longer than you can remain solvent"
  • #2,426
  • Feb 18, 2014 7:58am Feb 18, 2014 7:58am
Quoting EatPIPs
{quote} I closed out my short hedge trade at 1314 - where I added onto my longs.
nice call

But, I honestly wonder how far will this up-wave continue? Gold @ 1319

I see solid resistance above 1320, fingers crossed

Lets watch the show.
Hello World!
  • #2,427
  • Feb 18, 2014 8:07am Feb 18, 2014 8:07am
Quoting ClockTrader
{quote} nice call But, I honestly wonder how far will this up-wave continue? Gold @ 1319 I see solid resistance above 1320, fingers crossed Lets watch the show.
1321.6 is where I see resistance that may cause delay.

Pass that then 1333 is where im gonna start taking out my longs.
To live a successful life, we must lose our fear of being wrong
  • #2,428
  • Feb 18, 2014 9:22am Feb 18, 2014 9:22am
Next 3 areas of difficulty IMO on the rise.
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To live a successful life, we must lose our fear of being wrong
  • #2,429
  • Feb 18, 2014 10:06am Feb 18, 2014 10:06am
Quoting EatPIPs
Next 3 areas of difficulty IMO on the rise. {image}

Whether it creates a new high or not around Thu-Fri will help me judge the strength of Bulls over Bears. I'm eagerly awaiting this weekend & PA of early next week & next weekend too.

I doubt it'll create another high anytime before Thu. I'll call it a day now, wish you all Happy Trading =)
Hello World!
  • #2,430
  • Feb 18, 2014 10:21am Feb 18, 2014 10:21am
Booked some of the shorts in Gold. Now adding some shorts in Silver.
  • #2,431
  • Feb 18, 2014 1:18pm Feb 18, 2014 1:18pm
Tomorrow should be interesting.
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To live a successful life, we must lose our fear of being wrong
  • #2,432
  • Feb 18, 2014 1:35pm Feb 18, 2014 1:35pm
It broke and retested that upper trend line, i guess thats the good news for longs.

Quoting EatPIPs
Tomorrow should be interesting. {image}
  • #2,433
  • Feb 18, 2014 11:02pm Feb 18, 2014 11:02pm
Closed out all my longs last night before hitting the sack.

Have started building on my shorts now from this morning.

Technically looking for a "healthy" pullback now to somewhat back in the low 1300s, maybe lower.

Ultimately I am looking for 1360+ as my longer term target but getting a pullback now would be a good sign for that.

I don't want to see it dropping lower than 1273 however if it were to get that far at some point or another before resuming upwards. There are many variables in the way for a pullback but will see how PA plays during both London and NY sessions today and how we see the 4HR candle closure.
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To live a successful life, we must lose our fear of being wrong
  • #2,434
  • Feb 18, 2014 11:45pm Feb 18, 2014 11:45pm
1312 is key level to break and hold today.
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To live a successful life, we must lose our fear of being wrong
  • #2,435
  • Feb 19, 2014 1:12am Feb 19, 2014 1:12am
check this out
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FailOrRiseEX
  • #2,436
  • Feb 19, 2014 1:15am Feb 19, 2014 1:15am
Quoting EatPIPs
1312 is key level to break and hold today. {image}
If 1312 holds by start of US session then my shorts are invalidated.
To live a successful life, we must lose our fear of being wrong
  • #2,437
  • Feb 19, 2014 1:19am Feb 19, 2014 1:19am
Gold 5min short flag
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  • #2,438
  • Feb 19, 2014 2:32am Feb 19, 2014 2:32am
Possible 3rd kiss on the short term downtrend.
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To live a successful life, we must lose our fear of being wrong
  • #2,439
  • Feb 19, 2014 2:46am Feb 19, 2014 2:46am
Quoting EatPIPs
Possible 3rd kiss on the short term downtrend. {image}
Invalidated.
To live a successful life, we must lose our fear of being wrong
  • #2,440
  • Feb 19, 2014 2:48am Feb 19, 2014 2:48am
looks like it want to retest its recent high 1324
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