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  • #8,221
  • May 7, 2014 7:37am May 7, 2014 7:37am
Quoting hoss
I'm short to 1,297.00
almost ..now low 1301.xx
traderbandung.blogspot.com
40%more All Time Return: 10.5%
  • #8,222
  • May 7, 2014 7:51am May 7, 2014 7:51am
Quoting hoss
I'm short to 1,297.00
Good call. I was short too but got out too early. Made some money but nothing too special. When I buy a little I make money but when I buy a lot the freakin market goes in the other direction lol..
  • #8,223
  • May 7, 2014 8:04am May 7, 2014 8:04am
Looks to have found support here
  • #8,224
  • May 7, 2014 8:07am May 7, 2014 8:07am
Closed 2 shorts for small profit, and now on sidelines, lest I break my rule about trading during Fed Reserve Chairperson speech.
"The market can remain irrational longer than you can remain solvent"
  • #8,225
  • May 7, 2014 8:08am May 7, 2014 8:08am
Quoting Johnsaba
Gold will be down from my point of view >>>>>>>>>>>>>> Chart show the % {image}
  • #8,226
  • May 7, 2014 8:10am May 7, 2014 8:10am
Quoting stylinex
{quote} Good call. I was short too but got out too early. Made some money but nothing too special. When I buy a little I make money but when I buy a lot the freakin market goes in the other direction lol..
otherwise, that's was call challenge..
traderbandung.blogspot.com
40%more All Time Return: 10.5%
  • #8,227
  • May 7, 2014 8:26am May 7, 2014 8:26am
I predict the price to touch 1330 today
  • #8,228
  • May 7, 2014 8:32am May 7, 2014 8:32am
wherever there's a bull there must be a bear. I'm anticipating 1280 due to yellen's testimony.
  • #8,229
  • May 7, 2014 8:50am May 7, 2014 8:50am
Quoting waleed.khan
{quote} Yeah...that was a good call! But today apparently yellen speaks so I don't know...? maybe we gonna hit 1317-20 levels by london and then start descending back to 1300-1310 range... Good luck!
There is good support at these levels; but there might be further downside to (38.2%) $1299 till (50%) $1294 retracement levels....

The USD index had a steep fall yesterday and price is just retracing right now. Therefore short sellers must be careful...Until or unless there is no deescalation of the ukraine issue the price cannot start trending downward!
  • #8,230
  • May 7, 2014 8:58am May 7, 2014 8:58am
Quoting waleed.khan
{quote} There is good support at these levels; but there might be further downside to (38.2%) $1299 till (50%) $1294 retracement levels.... The USD index had a steep fall yesterday and price is just retracing right now. Therefore short sellers must be careful...Until or unless there is no deescalation of the ukraine issue the price cannot start trending downward!
$1262-1266 will decide the gold technicals short term.
a collapse to $1150 or a rally toward $1450-1500

a collapse is favored by current economic data and world situation.
  • #8,231
  • May 7, 2014 9:09am May 7, 2014 9:09am
i think gold will down to 1160$ and finally 1030$................................
  • #8,232
  • May 7, 2014 9:21am May 7, 2014 9:21am
Quoting acidguy
{quote} a collapse is favored by current economic data and world situation.
The Technicals are suggesting price forming a support layer....

In terms of your quote above.. I totally agree! if ukraine issue was not there price would fall through the floor! If somehow price falls to 1260 today without any news of possible deescalation in ukraine...that is just going to suggest that someone is toying with traders... because price has tried capitulating 2 or 3 times but it got rejected...

But apart from ukraine there is the china slowdown issue... which is still there and cannot be ignored! Plus I also suggest to watch the s&p500 and dow as they are lurking around the 50 sma on the daily. A close below that can trigger a correction!
  • #8,233
  • May 7, 2014 9:25am May 7, 2014 9:25am
Still a bit of support to get through to see more downside.
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A genius is born every minute, me I am lucky if my socks match.
  • #8,234
  • May 7, 2014 9:25am May 7, 2014 9:25am
Yellen:
Looking ahead, I expect that economic activity will expand at a somewhat faster pace this year than it did last year, that the unemployment rate will continue to decline gradually, and that inflation will begin to move up toward 2 percent.
  • #8,235
  • May 7, 2014 9:28am May 7, 2014 9:28am
on the H4 we have seen the double top nicely, but we have also bounced of the tenkan (blue line) for a classic signal of potential upside. Waiting for market to fully digest Yellens statement and get direction.
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A genius is born every minute, me I am lucky if my socks match.
  • #8,236
  • May 7, 2014 9:31am May 7, 2014 9:31am
Quoting nicefirework
Yellen: Looking ahead, I expect that economic activity will expand at a somewhat faster pace this year than it did last year, that the unemployment rate will continue to decline gradually, and that inflation will begin to move up toward 2 percent.
She also just said that housing recovery might be slower than expected... and that just might be the caveat...
  • #8,237
  • May 7, 2014 9:35am May 7, 2014 9:35am
It sounds like yellen has taken somewhat of a U-turn!
  • #8,238
  • May 7, 2014 9:36am May 7, 2014 9:36am
Quoting waleed.khan
It sounds like yellen has taken somewhat of a U-turn!
? in what way. How did you read it?
A genius is born every minute, me I am lucky if my socks match.
  • #8,239
  • May 7, 2014 9:41am May 7, 2014 9:41am
Quoting whackdiddy
{quote} ? in what way. How did you read it?
Well the housing... and she mentioned that interest rates will be kept to zero as long as needed! I think once the news is digested these points will be highlighted!

Plus her tone is different too from the last 3 meetings.. She has started to say "longer...considerable amount of time" a lot more!
  • #8,240
  • May 7, 2014 9:53am May 7, 2014 9:53am
All asset classes should rally! she has started to sound like bernanke! "considerable amount of time"

Notice the pinbar being formed on the spx and dow!
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