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  • #8,721
  • May 15, 2014 11:19am May 15, 2014 11:19am
Quoting JoeNY
Way too much supply,,,, Gold Ba bye to the line
what exact line do you mean?
  • #8,722
  • Edited 11:50am May 15, 2014 11:36am | Edited 11:50am
Whatever line is next on my puzzle ..... is take profit. Trend or S&D makes no difference to me. I trade my lines,... line to line if I like the price action and if price stalls before a line that is also a time for take profit. I could care less about what happens long term. I have no daily view or prediction.
"I ridez' da order flo and go,..... My Man".

Price just loves to F-in channel... I'm not smart enough to know why all these things happen.
I goez wherez da channelz go. Maybe copper is next..

Quoting fawaol
{quote} what exact line do you mean?

Attached Image
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  • #8,723
  • May 15, 2014 11:49am May 15, 2014 11:49am
Quoting JoeNY
Whatever line is next on my puzzle ..... is take profit. Trend or S&D makes no difference to me. I trade my lines,... line to line if I like the price action and if price stalls before a line that is also a time for take profit. I could care less about what happens long term. I have no daily view or prediction. "I ridez' da order flo and go,..... My Man". Price just loves to F-in channel... I'm not smart enough to know why all these things happen. {quote} {image}
Sounds great
  • #8,724
  • May 15, 2014 12:58pm May 15, 2014 12:58pm
Quoting whackdiddy
{quote} trust me I was like that last night. Sacrificed $300 as my margin was going fast when it bounced to the topside. honestly I was lucky it fell and come in line with my technicals. Today (Thu) 57.6% A$1,487 A little trick my Dad taught me playing golf, do some bad rounds and you handicap will go up, then come comp do a stellar round and you will win the day. So to get a high percentage pull money out of your account so when you take a little profit it looks stellar on paper...
Well, I think you truly had your socks match here... Excellent
  • #8,725
  • May 15, 2014 1:13pm May 15, 2014 1:13pm
Anyone else seeing triangle forming? MAs flattening as well and we're getting close to the apex.
When it breaks it will be interesting.
  • #8,726
  • May 15, 2014 2:07pm May 15, 2014 2:07pm
At this moment...

The USD index look like its going to post a shooting star pinbar at the daily close. This comes after yesterdays hanging man and touching the 50 ema. This means that we are going to see a bearish leg in the days to come... This can be further confirmed by the bullish pin bar being made by the euro!

The stocks are continuing to post declines and look that they might further too... still have to wait and see what happens at todays close...

All this should be bullish for gold in the days to come. As of right now Gold is on 1295; but it should close above 1298 (100 sma); plus close above 50 sma continue bullish bias.
  • #8,727
  • May 15, 2014 2:16pm May 15, 2014 2:16pm
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  • #8,728
  • May 15, 2014 2:19pm May 15, 2014 2:19pm
Quoting JoeNY
{image}
if u see just 30% of the picture look like in a little uptrend

if you see the whole picture look like is about to collapse to new lows in the next 2 weeks.

i bet the short term investors are scalping right now or in the sidelines as there is not clear trend defined.
the long term investors are watching whats happening closely and the thing is failing to make new highs, if 1266 support is damaged, watch gold collapse to $1220 quickly.
  • #8,729
  • May 15, 2014 2:24pm May 15, 2014 2:24pm
Hi Everyone,

I am new here ... my thoughts from the Weekly chart ... any thoughts anyone ?

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  • #8,730
  • May 15, 2014 2:28pm May 15, 2014 2:28pm
Hi there Acid,

I hear's ya Pal. .... my signature comes into play.... I trade the now and never look too deep into the past... I get confused very easily. In and out off the lines.

Quoting acidguy
{quote} if u see just 30% of the picture look like in a little uptrend if you see the whole picture look like is about to collapse to new lows in the next 2 weeks. i bet the short term investors are scalping right now or in the sidelines as there is not trend. the long term investors are watching whats happening closely and the thing is failing to make new highs, if 1266 support is damaged, watch gold collapse to $1220 quickly.
SPC * Swollen PocketZ Crew!
  • #8,731
  • May 15, 2014 2:28pm May 15, 2014 2:28pm
Quoting acidguy
{quote} if u see just 30% of the picture look like in a little uptrend if you see the whole picture look like is about to collapse to new lows in the next 2 weeks. i bet the short term investors are scalping right now or in the sidelines as there is not clear trend defined. the long term investors are watching whats happening closely and the thing is failing to make new highs, if 1266 support is damaged, watch gold collapse to $1220 quickly.
I tend to agree, but think it might not happen until June.
"The market can remain irrational longer than you can remain solvent"
  • #8,732
  • May 15, 2014 2:28pm May 15, 2014 2:28pm
Quoting acidguy
{quote} if u see just 30% of the picture look like in a little uptrend if you see the whole picture look like is about to collapse to new lows in the next 2 weeks. i bet the short term investors are scalping right now or in the sidelines as there is not clear trend defined. the long term investors are watching whats happening closely and the thing is failing to make new highs, if 1266 support is damaged, watch gold collapse to $1220 quickly.
I'll be the first to jump boats when we close below 1266 (plus if Ukraine issue isn't a global matter anymore...) but until then there is good support being built for the upside! Scalping within these ranges can be done.but going long above 1312-18 range can prove really fruitful too...
  • #8,733
  • May 15, 2014 2:29pm May 15, 2014 2:29pm
Quoting Seth1981
Anyone else seeing triangle forming? MAs flattening as well and we're getting close to the apex. When it breaks it will be interesting.
Attached Image (click to enlarge)
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like this ? break out short for me
  • #8,734
  • May 15, 2014 2:35pm May 15, 2014 2:35pm
Quoting anton.olff
{quote} I tend to agree, but think it might not happen until June.
I did agree with you guys too 100% before Yellens last speech...

Ever since then... and through her tone it has become apparent that interest rate hikes are not gonna come until 2016 or even 2017. There is a lot of problem in housing still and that is the main concern. NFP numbres, according to yellen now have less weight because they don't take into account the participation rate...(hence it is not a solid barometer anymore)

Gold can certainly fall...but I don't see it fall below its 1 year lows... There will be a lot of physical demand at those levels for prices to go lower any further...
  • #8,735
  • May 15, 2014 2:36pm May 15, 2014 2:36pm
Think about what you said. Any thoughts.

If you were to trade my style, the only thing you would be thinking is "I wonder if price is going to get to that line I drew cause if it does, I hope the price action tells me something good so I can trade the hell out of it. .... but that's just my thinking when it comes to this crap.

Quoting captbritain
Hi Everyone, I am new here ... my thoughts from the Weekly chart ... any thoughts anyone ? {image}
SPC * Swollen PocketZ Crew!
  • #8,736
  • May 15, 2014 2:42pm May 15, 2014 2:42pm
Note the Daily

Review the DXY Daily and note price is above the 200 sma

Then decide... Which side will this break?

Symmetrical Triangle...
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  • #8,737
  • May 15, 2014 2:44pm May 15, 2014 2:44pm
Quoting JimmyC
Note the Daily Review the DXY Daily and note price is above the 200 sma Then decide... Which side will this break? Symmetrical Triangle... {image}
you got a call jim long short ? E
  • #8,738
  • May 15, 2014 2:46pm May 15, 2014 2:46pm
Quoting JimmyC
Note the Daily Review the DXY Daily and note price is above the 200 sma Then decide... Which side will this break? Symmetrical Triangle... {image}
Price is below the 200 sma on the dxy...
  • #8,739
  • May 15, 2014 2:47pm May 15, 2014 2:47pm
Quoting elbert3
{quote} you got a call jim long short ? E
I call it the way it breaks... Its symmetrical, I still have it as no trade
  • #8,740
  • May 15, 2014 2:54pm May 15, 2014 2:54pm
Quoting waleed.khan
{quote} Price is below the 200 sma on the dxy...
DXY below 200 sma
XAU above 200 sma

Direction ?
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