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  • #8,261
  • May 7, 2014 10:39am May 7, 2014 10:39am
Quoting waleed.khan
{quote} Im looking for a more credible source.. a major news channel!

i have read the same news on BBC
  • #8,262
  • May 7, 2014 10:42am May 7, 2014 10:42am
Quoting geomink
{quote} what I see just now is a bearish behavours even at the smaller tf btw GL
Thanks..Im trading very light.. so no major dent if i get stopped out; but if it goes in my favor I will keep adding on longs!

I will only short below $1260
  • #8,263
  • May 7, 2014 10:49am May 7, 2014 10:49am
Quoting msh310
{quote} i have read the same news on BBC
This must be true then...as usd is fallign against rubble...

Right now I think the paradigm is changing though... Yellen has changed a few fundamentals and a reevaluation is due in the market!

Gold is not taking off like the other markets have started too because of this ukraine news... but it will in the coming days i think!
  • #8,264
  • May 7, 2014 11:15am May 7, 2014 11:15am
Quoting Mitchoss
I'm personally looking for 1290-1293 in the next 24hours.. I feel we have unfinished business here. EDIT: That does not mean I will switch to a long position, I am curious to see the PA and if the buying is there, otherwise a poor bounce will likely lead to testing the next support around 1285 (in my eyes). Could be wrong, we can't all be right. Happy trading guys!
Well that worked. Watching how prices react here.
  • #8,265
  • May 7, 2014 11:20am May 7, 2014 11:20am
Quoting Mitchoss
{quote} Well that worked. Watching how prices react here.
yeah its barely hanging on the 61.8% retracement level... anything more than this could prove bad for the long side (in the short term)
  • #8,266
  • May 7, 2014 11:22am May 7, 2014 11:22am
Quoting waleed.khan
{quote} yeah its barely hanging on the 61.8% retracement level... anything more than this could prove bad for the long side (in the short term)
I am looking for an opportunity to long in the next few hours. Will keep you posted.

The opportunity may not arise so still be cautious if you are also hungry for a rally . Bear moves can be brutal
  • #8,267
  • May 7, 2014 11:50am May 7, 2014 11:50am
Quoting Mitchoss
{quote} I am looking for an opportunity to long in the next few hours. Will keep you posted. The opportunity may not arise so still be cautious if you are also hungry for a rally . Bear moves can be brutal
Yeah we need a confirming candle...
  • #8,268
  • May 7, 2014 11:53am May 7, 2014 11:53am
Quoting stylinex
{quote} This is what I call an amazing call
and this what i call an amazing "quote"
traderbandung.blogspot.com
40%more All Time Return: 10.5%
  • #8,269
  • May 7, 2014 11:54am May 7, 2014 11:54am
guys.. why weaknes of USD yesterday till now not effect for gold? anyone can explain plss...
  • #8,270
  • May 7, 2014 11:54am May 7, 2014 11:54am
Quoting waleed.khan
{quote} This must be true then...as usd is fallign against rubble... Right now I think the paradigm is changing though... Yellen has changed a few fundamentals and a reevaluation is due in the market! Gold is not taking off like the other markets have started too because of this ukraine news... but it will in the coming days i think!
This is going to dawn on people soon enough... Low interest rates for "a considerable amount of time" despite a good economy is going to be bad for th usd index and this will prompt continued interest in gold buying at both a retail and central bank level!
  • #8,271
  • May 7, 2014 11:57am May 7, 2014 11:57am
Quoting thiando
guys.. why weaknes of USD yesterday till now not effect for gold? anyone can explain plss...
This is what I have been pulling the hair out of my head over for the past couple of hours..we saw the spike in equities but not the fall in usd index. It's probably on autopilot and retracing on a techinical level but will eventually continue its downward trend... (in the medium to long term with lower rates it has to keep on going down) which is what yellen also wants as this could lead to increasing inflation to her desired 2% level as import costs increase due to a lower dollar!
  • #8,272
  • May 7, 2014 11:59am May 7, 2014 11:59am
Quoting waleed.khan
{quote} This is what I have been pulling the hair out of my head over for the past couple of hours..we saw the spike in equities but not the fall in usd index. It's probably on autopilot and retracing on a techinical level but will eventually continue its downward trend... (in the medium to long term with lower rates it has to keep on going down) which is what yellen also wants as this could lead to increasing inflation to her desired 2% level as import costs increase due to a lower dollar!
I never trade news its just noise. The market follows patterns and you are right we are simply due for this retracement.
  • #8,273
  • May 7, 2014 12:01pm May 7, 2014 12:01pm
Quoting hoss
{quote} Thanks, stylinex. That was a glorious move, for sure.
have a big profit last 2 days bro. anyone who in the thread thanks to you.
traderbandung.blogspot.com
40%more All Time Return: 10.5%
  • #8,274
  • May 7, 2014 12:07pm May 7, 2014 12:07pm
I scalped some shorts, but I am cautious at these levels. Could bounce up to 1295-1300 again before coming down. Ukraine is still on the front burner, despite what media is saying about Putin pullback.
"The market can remain irrational longer than you can remain solvent"
  • #8,275
  • May 7, 2014 12:07pm May 7, 2014 12:07pm
Quoting waleed.khan
{quote} This is what I have been pulling the hair out of my head over for the past couple of hours..we saw the spike in equities but not the fall in usd index. It's probably on autopilot and retracing on a techinical level but will eventually continue its downward trend... (in the medium to long term with lower rates it has to keep on going down) which is what yellen also wants as this could lead to increasing inflation to her desired 2% level as import costs increase due to a lower dollar!
thanks for the explanation. i just have take position long on 1288.00. hopely gold will going up soon hehe
  • #8,276
  • May 7, 2014 12:08pm May 7, 2014 12:08pm
Quoting Mitchoss
{quote} I never trade news its just noise. The market follows patterns and you are right we are simply due for this retracement.
I agree news is noise and ultimately everything gets priced into the charts and technical analysis is perhaps (the best filter)... but news is ultimately what drives PA and if the news does suggest something concrete; I guess that can be used as a tool!
  • #8,277
  • May 7, 2014 12:16pm May 7, 2014 12:16pm
Quoting thiando
{quote} thanks for the explanation. i just have take position long on 1288.00. hopely gold will going up soon hehe
I would be careful with a long right now... let price consolidate a bit... the 4 hr candles are long in length..wait for a bullish candle for an entry or if the the price starts to spike up wait for atleast a close above 1302 on the day for a long entry tomorrow (200 sma)
  • #8,278
  • May 7, 2014 12:19pm May 7, 2014 12:19pm
Seriously what is going on with Gold!! that is a seriously quick retracement... sometimes i wish I had stop losses in place! then again most times I do it seems to hit them and reverse!
Tell me please ppl what are the current targets??? likely to go any further lower for the day?
  • #8,279
  • May 7, 2014 12:44pm May 7, 2014 12:44pm
Just curious te see where will buyers reappear

here I don't see any bull reaction yet
Don't give up
  • #8,280
  • May 7, 2014 1:03pm May 7, 2014 1:03pm
Quoting geomink
Just curious te see where will buyers reappear here I don't see any bull reaction yet
If price retraces to 1302 (sma) and closes on the day above go long at the open of asia session!
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