Only Gold!

That breakout of the downward channel could of been a bump/false breakout short term. Currently back in the channel ATM.

There will be a potential push in 20 minutes. 4HR is still within the channel. Close of this candle could be important also.

I doubt.

Americans get free money over & over again in the form of refinance from banks (remember Mortgage Crisis?). Finally, lenders run out of money and/or begin to ask questions. Banks begin to crash, its like entire US is about to collapse. Instead of selling half of America's homes (foreclosure), Uncle Sam (US Govt) gives free money to banks, I hope this explains something.

Can we chat using some instant messenger?

Hello,

I think the high of 1331.99 on 17/2/2014 is probably enough for the bulls for a while.

The price action over the last two days looks bearish to me, over the short term at least.

I see 1290 as a first possible downside target, but could also go way below this level easily.

A retest of 1180? Not today, but that would be nice over the next few weeks.

Bullish continuation pattern?

I am in a new short...Gartley Pattern plus sma 200 sma 300... 10min... I wait for take profit

Good work Nitsan

Currently holding my shorts from this morning also.

Thank you

"Gold prices are expected to move higher for the day as safe haven buying of Gold and upcoming poor US data expectations can push the prices higher."

Lets see what the news does.

I can see resistance at approx. 1327, gold might try for a stab at that level on any rise.

PA has been crap today.

Looking for a close below 1319.1 on the 5M for possible continuation south.

1321.5 as resistance.

Like I said earlier today, I doubt a re-test of 1324. Pure Scientific Au-Analytics @ work. Pretty good so far. My view remains same, have a nice one you all!

If it flies through 1324-25, I'll closely observe Thu-Fri for a higher high.

This is like baby steps today. If 1319.1 remains then 1316.4 is my next touch.

Repeat: If it flies through 1324-25, I'll closely observe Thu-Fri for a higher high.

Thank you FOMC Meeting Minutes

same here EatPips ..... Thank You FOMC

hopa NEW LOW,,

Just for anyone who wants to know about that $7 move:

"Federal Reserve officials in January started to debate when to start raising interest rates, with a few arguing they might need to move sooner than expected.
A small number of Federal Reserve officials believe the central bank might need to raise short-term interest rates in the near future, minutes of the Fed's January policy meeting showed.
"A few participants raised the possibility that it might be appropriate to increase the federal funds rate relatively soon," according to minutes of the Jan. 28-29 meeting, released Wednesday after the customary three-week lag.
Such a position wasn't the consensus view at the Fed. Most Fed officials believed it wouldn't be appropriate for the central bank to raise short-term rates until 2015 or later, according to economic projections officials submitted at their December meeting. But the minutes indicate that the timing of the first increase has come onto the Fed's agenda after years of interest rates pinned near zero.
One of the Fed officials who raised the rate-increase issue cited evidence that the interest rate needed to ensure inflation remains in check--the equilibrium real interest rate--had moved higher than it's been in the past, the minutes said. "A couple" other officials pointed to standard policy rules that suggested that the Fed's benchmark interest rate "should be raised above its effective lower bound before the middle of this year," the minutes said.
Other Fed officials pushed back against this view, arguing that current conditions, such as the lingering effects of the financial crisis, made standard policy rules inappropriate guides at the present time.
Overall, the minutes showed that officials appear on track to keep reducing the pace of the Fed's monthly bond purchases in steady steps over the course of the year as long as the economy continues to perform as they expect.
At the conclusion of the January meeting, the central bank announced it was cutting the monthly pace of asset purchases to $65 billion, from $75 billion. "Several participants argued that, in the absence of an appreciable change in the economic outlook, there should be a clear presumption in favor of continuing to reduce the pace of purchases by a total of $10 billion at each FOMC meeting," the minutes said. The bond purchases were begun in September 2012 to help lower long-term interest rates to encourage spending, hiring and investment.
A few officials fretted about low inflation readings and other signs of slack in the economy, but even they supported continuing to scale back the bond-buying program, the minutes showed. "These participants judged...that a pause in the reduction of purchases was not justified at this stage, especially in light of the strength of the economy in the second half of 2013."
Officials also engaged in a wide-ranging discussion about what to do about their guidance on when they'll raise short-term rates, which have been pinned near zero since late 2008. The Fed has been saying for some time that they won't consider raising rates until the jobless rate reaches 6.5%, as long as inflation remains in check.
The jobless rate has fallen toward that threshold far faster than Fed officials expected when they set it, to 6.6% in January. Given the jobless rate's close proximity to their threshold, officials at the January meeting agreed that "it would soon be appropriate for the Committee to change its forward guidance in order to provide information about its decisions regarding the federal funds rate after that threshold was crossed."
But there appeared to be little agreement on exactly what changes the Fed should make. Some officials thought the central bank should lower its unemployment threshold, while others advocated a "qualitative approach" of providing the public with more information on what other factors officials would consider when making the decision to raise rates.
Several officials argued that the Fed should emphasize that risks to the stability of the financial system are among the factors guiding their decision, the minutes said. Others thought the Fed should stress that it is willing to keep rates low for longer if inflation remains below their 2% official target.
The minutes show that officials discussed the turmoil in emerging market countries, even though officials declined to mention these developments in their formal policy statement. Officials saw the developments in emerging markets as having had "only a limited effect to date" on U.S. financial markets but pledged to keep watching carefully, the minutes said. Officials "noted that recent developments in several emerging market economies, if they continued could pose downside risks to the outlook," the minutes said."

We might see some upside, but over the intermediate term, price is likely to retreat to 1250. I added to shorts (and to longs on USD/JPY).

What's your next plan? Are you going to reload the longs?

I want to see what happens to 1312. I've taken out most of my shorts from today, still a few left to take out in the 1312-1313 region. Their protected so whether SL or TP makes no difference. I'm not gonna be trading this either way until tomorrow morning (GMT+1) to see what the Asian session does overnight. If 1312 gets stubborn then I will start building my longs there again otherwise play light on the downside.

We have been awaiting a retracement from the recent up move - I don't think this is it, however it all depends on PA for the rest of the week. Most likely trade intraday for the rest of the week and see the clearer picture from next week.

If 1312 clears, I can see it heading towards the low 1300s, but again, that's based on my analysis. If/when it gets there, then will see how market react but most likely I will set up pending orders in that region.