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  • #7,341
  • Apr 20, 2014 8:59pm Apr 20, 2014 8:59pm
Looks like Goldman traders are working busy tonight. Only took like six months of higher gold prices. Slam dunk this sell...funny thing is, they make it mucho cheaper to accumulate.
When the facts change I change my mind, what do you do sir
  • #7,342
  • Edited 9:20pm Apr 20, 2014 9:04pm | Edited 9:20pm
Quoting Pip Anon
Looks like Goldman traders are working busy tonight. Only took like six months of higher gold prices. Slam dunk this sell...funny thing is, they make it mucho cheaper to accumulate.
investors do what makes sense, holding Gold right now does not make any sense.

better buy stocks, currencies, whatever, even energy contracts, buy why gold now when market is in calm, inflation is almost 0 and China is investing money financially to avoid a crisis.

gonna throw some fiat currency dollars to the toilet, my first gold long of the week.

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  • #7,343
  • Apr 20, 2014 9:07pm Apr 20, 2014 9:07pm
Quoting nicefirework
{quote} COT show slightly bullish.
Thanks mate! what I understand is COT is kind of similar to volume?
although I'm still short, I think gold is due for a slight pull back
  • #7,344
  • Apr 20, 2014 9:20pm Apr 20, 2014 9:20pm
Quoting acidguy
{quote} investors do what makes sense, holding Gold right now does not make any sense. better buy stocks, currencies, whatever, even energy contracts, buy why gold now when market is in calm, inflation is almost 0 and China is investing money financially to avoid a crisis. gonna throw some dollars to the toilet, my first gold long of the week. {image}
Cant agree with u more. there is A MACD divergence on 4h so may be a pullback is due. but macd ,rsi and all that dont really mean anthing as they say trend is your friend
  • #7,345
  • Apr 20, 2014 9:31pm Apr 20, 2014 9:31pm
Quoting acidguy
{quote} investors do what makes sense, holding Gold right now does not make any sense. better buy stocks, currencies, whatever, even energy contracts, buy why gold now when market is in calm, inflation is almost 0 and China is investing money financially to avoid a crisis. gonna throw some fiat currency dollars to the toilet, my first gold long of the week. {image}
Lol, like I said in the past you don't invest in paper gold. I buy and hold a small percentage of physical stuff when the price is right. Then again, I don't have any issues buying contracts near 1265/75.

Have you seen food prices? Rent prices? Energy prices? And the general cost of living? Not to mention the ever expanding money supply. If anyone can honestly say there is 0 inflation with a straight face...well..

People pile into risk assets because that's what central banks tell them to do. I'm not saying it's not something to do, but like every other asset, there are ways to play it. No matter how many times this scenario has ended in disaster humans continue to indulge in the same temptations.

Gold will retest the 200 EMA. Gold didn't see selling pressure until Goldman reiterated their slam dunk sell.

Again, not saying there aren't better trades.
When the facts change I change my mind, what do you do sir
  • #7,346
  • Apr 20, 2014 9:42pm Apr 20, 2014 9:42pm
Quoting Pip Anon
{quote} Lol, like I said in the past you don't invest in paper gold. I buy and hold a small percentage of physical stuff when the price is right. Then again, I don't have any issues buying contracts near 1265/75. Have you seen food prices? Rent prices? Energy prices? And the general cost of living? Not to mention the ever expanding money supply. If anyone can honestly say there is 0 inflation with a straight face...well.. People pile into risk assets because that's what central banks tell them to do. I'm not saying it's not something to do, but...
Agree!!! Let see about Goldman Sachs
http://news.goldseek.com/GoldSeek/1397843401.php
  • #7,347
  • Apr 20, 2014 9:55pm Apr 20, 2014 9:55pm
I had longs in the range 1295 - 1301 with SL @ 1291, these got hit, because I was following MM, its not a pain, nevertheless a loss, small though.
Hello World!
  • #7,348
  • Apr 20, 2014 9:58pm Apr 20, 2014 9:58pm
Quoting Pip Anon
{quote} Lol, like I said in the past you don't invest in paper gold. I buy and hold a small percentage of physical stuff when the price is right. Then again, I don't have any issues buying contracts near 1265/75. Have you seen food prices? Rent prices? Energy prices? And the general cost of living? Not to mention the ever expanding money supply. If anyone can honestly say there is 0 inflation with a straight face...well.. People pile into risk assets because that's what central banks tell them to do. I'm not saying it's not something to do, but...
its true, also other many banks are saying long to gold
http://www.bloomberg.com/video/china...9ZALsejeg.html

+ in the short side recently Warren Buffet said to people longing gold are "stupids" .

mixed reactions, in my opinion of what ive read, gold gonna slump as chinese funds are going to be driven to lending and less invested in metals and China is biggest cause of current gold astronomical prices.
  • #7,349
  • Apr 20, 2014 10:04pm Apr 20, 2014 10:04pm
Quoting acidguy
{quote} its true, also other many banks are saying long to gold http://www.bloomberg.com/video/china...9ZALsejeg.html + in the short side recently Warren Buffet said to people longing gold are "stupids" . mixed reactions, in my opinion of what ive read, gold gonna slump as chinese funds are going to be driven to lending and less invested in metals and China is biggest cause of current gold astronomical prices.
What the hell does Buffet know? Lol. I mean he's great at buying and holding, but people try to go to him as some sort of economic barometer, and he's not. I'm not saying pile your equity in gold.

I'm saying if you can see these consumer prices rising and say there is no inflation then those are "stupids." Gold is run by institutions, and as I said before there are ways to play it.

Why would Chinese funds lend why the PBOC is looking to curb that? China will be riddled with defaults.

Gold is very mixed. I agree. I'm not looking to make it my nest egg, I'm just looking to include it in the fund. The Fed has destroyed purchasing power. The yen purchases 20% less since Abe took office as inflation rises. How's that helping the Japanese?

Central banks are complete nonsense, which makes gold attractive long-term.
When the facts change I change my mind, what do you do sir
  • #7,350
  • Apr 20, 2014 10:26pm Apr 20, 2014 10:26pm
Wind Putin up gold will fly.
  • #7,351
  • Apr 20, 2014 10:35pm Apr 20, 2014 10:35pm
Quoting acidguy
{quote} its true, also other many banks are saying long to gold http://www.bloomberg.com/video/china...9ZALsejeg.html + in the short side recently Warren Buffet said to people longing gold are "stupids" . mixed reactions, in my opinion of what ive read, gold gonna slump as chinese funds are going to be driven to lending and less invested in metals and China is biggest cause of current gold astronomical prices.
The people who invested in Gold in the last 3-4 years were no doubt quite wrong, unless they were following "Golden seasons". Buffet calling them stupids can be justified.

However, Buffet, given his age and his past experience of Forex (filled with losses) cannot be followed blindly. Like Pip_Anon said, Buffet is good at holding. I still see a bright future of investors who tend to invest in Gold. If one could follow "Golden Seasons", its easy to make money, but, this requires reasonably heavy capital and tons of patience. Seasons are not exactly meant for traders.
Hello World!
  • #7,352
  • Apr 20, 2014 11:08pm Apr 20, 2014 11:08pm
I think trading gold on 1M is far better than any other time-frame, also having a 2:1 SL & TP if you are holding a big vol.
If the vol is low then better go for the M15 or M30 chart.

And in trading gold SL is a must like the TP or else you are finished. Comments please.
  • #7,353
  • Apr 20, 2014 11:14pm Apr 20, 2014 11:14pm
Quoting raianil007
I think trading gold on 1M is far better than any other time-frame, also having a 2:1 SL & TP if you are holding a big vol. If the vol is low then better go for the M15 or M30 chart. And in trading gold SL is a must like the TP or else you are finished. Comments please.
if u long now u may aim for 1305 with sl 1275 IMO
  • #7,354
  • Apr 20, 2014 11:22pm Apr 20, 2014 11:22pm
Quoting goldfinger
{quote} if u long now u may aim for 1305 with sl 1275 IMO
I got SL 1274 TP 1320. Last two times PA lingered at these levels, the 200 EMA was the upside target
When the facts change I change my mind, what do you do sir
  • #7,355
  • Apr 20, 2014 11:52pm Apr 20, 2014 11:52pm
Quoting Pip Anon
{quote} I got SL 1274 TP 1320. Last two times PA lingered at these levels, the 200 EMA was the upside target
without involvement of Putin I cant see gold at 1320
  • #7,356
  • Apr 21, 2014 12:00am Apr 21, 2014 12:00am
hello all
good trade hoping this week ... the gold may 70 % rebounce before month ends... to 1300 or close above 1300 but it have to go for 1270 or 1260 first good luck all
trade light ... it still holidays
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  • #7,357
  • Apr 21, 2014 12:09am Apr 21, 2014 12:09am
I found this one interesting, lots to learn before you are wiped out or after you are wiped out.
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  • #7,358
  • Apr 21, 2014 12:31am Apr 21, 2014 12:31am
Quoting raianil007
I found this one interesting, lots to learn before you are wiped out or after you are wiped out. {image}
quite interesting
Hello World!
  • #7,359
  • Apr 21, 2014 12:41am Apr 21, 2014 12:41am
wow chart patterns. I use almost naked chart. all I have in my chart is a MACD but I dont really look at it that much.
  • #7,360
  • Apr 21, 2014 12:50am Apr 21, 2014 12:50am
It will go up to at least 1296.
A 1 pip gain is better than a 1 pip loss.
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