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  • #8,861
  • May 19, 2014 1:46pm May 19, 2014 1:46pm
Quoting waleed.khan
{quote}hehe $1240-60 so that is your downward target in the medium term and then you see price go to 1400 and then down for the next 10 years? I wish I could be more optimistic about the world
Did I say from where it move down? Do you think the price will hold 12xx in next 10 years? You couldn't visualise it until I show you the chart. So please stop guess works. The 10 year cycle I found myself for price moment in gold. It is still young and will not open for public. You need to optimistic about the current price where we are at the moment which was printed 4 years back. This price NONE of us expected. The reality is we reached and ranging here. The fundamentals and the situations are same as we are in $1920. Then why it came down to $1180?

If we can reach here from $1920 then It can reach to my target with in 10 years of time. It's a fact and can be rubbish game. But it has to that's rule of Nature.
Thathwamasi
  • #8,862
  • May 19, 2014 2:15pm May 19, 2014 2:15pm
Quoting vrshaiju
{quote} Did I say from where it move down? Do you think the price will hold 12xx in next 10 years? You couldn't visualise it until I show you the chart. So please stop guess works. The 10 year cycle I found myself for price moment in gold. It is still young and will not open for public. You need to optimistic about the current price where we are at the moment which was printed 4 years back. This price NONE of us expected. The reality is we reached and ranging here. The fundamentals and the situations are same as we are in $1920. Then why it came...
gold may in the future go to $2000 but right now, were having the opposites forces which sent it to $1800 ,
while those forces are in play gold is bearish, not strange to see $1100 at end of 2014 year if nothing weird in the world happens.
  • #8,863
  • May 19, 2014 2:16pm May 19, 2014 2:16pm
Quoting vrshaiju
{quote} Did I say from where it move down? Do you think the price will hold 12xx in next 10 years? You couldn't visualise it until I show you the chart. So please stop guess works. The 10 year cycle I found myself for price moment in gold. It is still young and will not open for public. You need to optimistic about the current price where we are at the moment which was printed 4 years back. This price NONE of us expected. The reality is we reached and ranging here. The fundamentals and the situations are same as we are in $1920. Then why it came...
I don't like to make price predictions... I only go by Price action and breaks of important support and resistance levels...but please I do respect the fact that the price can fall a lot lower...(at the end of the day who knows; what happens ) but just to get something straight... 4 years ago the fundamentals were a lot different; now they have changed as the situation is improving ( so this should hold your argument of lower prices...but in my opinion that is to live in a perfect world (there are so many things which are bound to happen which will keep prices stable to higher rather than fall more dramatically). You say that who would think that the price would fall from $1920... well the fact is when price became parabolic after $1400 and hit $1920 within a couple of weeks (everyone expected a fall); even $1180 could have been predicted because it is a 50% to 61.8% retracement levels depending from your reference point... The 2-3 years gold has been consolidating after a 13 year bull run... I believe as long as Gold doesn't go lower than $1000; it will still be viewed as bullish for the long term as it coincides with fibonacci rules...
  • #8,864
  • May 19, 2014 2:33pm May 19, 2014 2:33pm
Quoting acidguy
{quote} gold may in the future go to $2000 but right now, were having the opposites forces which sent it to $1800 , while those forces are in play gold is bearish, not strange to see $1100 at end of 2014 year if nothing weird in the world happens.
The one thing George Constanza and Warren Buffet have in common is that they do the opposite of whatever reason/logic tell them to do... George constanza got the yankees job a buffet became one of the richest men in the world...all by being contrarians! With that being said I am typically a momemtum/breakout trader so I'm the last one who would be a contrarian but just generally at pivotal points the opposite happens when the majority is expecting price to go in a certain direction...
  • #8,865
  • May 19, 2014 2:38pm May 19, 2014 2:38pm
i think the buyers have left the market , still short looking to break out short i have a sell order now 1289 open tp at this time ? might try 1252 and below other short is 1297 had this now over a week , still awaiting the triangle breakout on the day chart , no charts for now as i am in jersey
  • #8,866
  • May 19, 2014 2:44pm May 19, 2014 2:44pm
Quoting elbert3
i think the buyers have left the market , still short looking to break out short i have a sell order now 1289 open tp at this time ? might try 1252 and below other short is 1297 had this now over a week , still awaiting the triangle breakout on the day chart , no charts for now as i am in jersey
Its time...
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  • #8,867
  • May 19, 2014 2:44pm May 19, 2014 2:44pm
I don't see much of what you stated around here which really, really baffles me but when I do, I must give the person props. IMO, the only way to make money.

To waleed.khan.... I know you're making money with talk like that....

Quoting waleed.khan
{quote} I don't like to make price predictions... I only go by Price action
SPC * Swollen PocketZ Crew!
  • #8,868
  • May 19, 2014 2:54pm May 19, 2014 2:54pm
Kissed on the d..k by a ..
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A genius is born every minute, me I am lucky if my socks match.
  • #8,869
  • Edited 3:28pm May 19, 2014 3:07pm | Edited 3:28pm
Quoting JoeNY
I don't see much of what you stated around here which really, really baffles me but when I do, I must give the person props. IMO, the only way to make money. To waleed.khan.... I know you're making money with talk like that.... {quote}
Sorry could you come again... what baffles you?

*well on the contrary these days I am not* As I've stated in earlier posts I'm more of a momentum/breakout trader (thats my comfort zone...) I get hammered in ranging markets... So i lose money until I realize that the market is rangingl after that any wise man should stop and look for other markets but what I generally do is I reduce my positions dramatically (just to be in the game)! The downside of being a a full time trader with addiction problems.. but atleast my drawdowns can be minimum and controlled like this. I typically get 3 out of 10 trades right!*

So if you do read my recent (couple of weeks) posts I have been trading very lightly by buying on small pullbacks but I will become seriously interested when pa breaks the levels that I have mentioned.... all this "Bullish" talk in between is just my opinion -- I'll be the first to accept when I am wrong when Price moves against me and break my target - in fact I'll join the other side!)

I believe that in trading one of the most important things is to not attach yourself to a certain viewpoint and start following it blindly! A trader must be open-minded and fluid in his/her approach...Plus and this is just my experience from trading gold in the past 5 years... is that never short gold while picking a market top...To make a long story short ; The market is going to cripple you. I was crippled back in 2011 when price took off (when I had found reasons to believe that price would retrace $50 to $100) & it was that attachment to that "belief" that damaged my account... I can never ever do anything like that again...!
  • #8,870
  • May 19, 2014 3:11pm May 19, 2014 3:11pm
Added a long (scalp) for the Asian session, going to be a one day open trade for small profit.
A genius is born every minute, me I am lucky if my socks match.
  • #8,871
  • May 19, 2014 3:16pm May 19, 2014 3:16pm
That many many others around here that is don't seem to feel the same way as you and I. Seems like many are waiting for a prediction to happen instead of just trading what is actually happening.

Quoting waleed.khan
{quote} Sorry could you come again... what baffles you?
SPC * Swollen PocketZ Crew!
  • #8,872
  • May 19, 2014 3:32pm May 19, 2014 3:32pm
Quoting JoeNY
That many many others around here that is don't seem to feel the same way as you and I. Seems like many are waiting for a prediction to happen instead of just trading what is actually happening. {quote}
Yes I got you the first time...just wanted you to make it clearer for others

Read my last post again... I've basically explained the same thing you just stated!
  • #8,873
  • May 19, 2014 3:41pm May 19, 2014 3:41pm
Just read it again now with the additions. Good post Brotha... Not an easy task to free one's mind before trading. It's really an exercise that I partake daily. Part of my pre-day-trading ritual is to clear my head of anything I hear or see on the radio/TV/Internet and actually remind myself to just trade the order flow. The easiest way to make money IMO.

Quoting waleed.khan
{quote} Yes I got you the first time...just wanted you to make it clearer for others Read my last post again... I've basically explained the same thing you just stated!
SPC * Swollen PocketZ Crew!
  • #8,874
  • May 19, 2014 3:53pm May 19, 2014 3:53pm
Quoting JoeNY
Just read it again now with the additions. Good post Brotha... Not an easy task to free one's mind before trading. It's really an exercise that I partake daily. Part of my pre-day-trading ritual is to clear my head of anything I hear or see on the radio/TV/Internet and actually remind myself to just trade the order flow. The easiest way to make money IMO. {quote}
Yeah it is certainly tough... your daily ritual part reminded me of a "podcast" I heard recently by Rob Booker ( I am/will always be a student of the market & an Info/knowledge hog) regarding NLP and how it can be used to better ones trading! http://traderspodcast.com/episode140/ .

Yes trading order flow or rather anything quantified is less likely going to lead one to getting attached to an idea about price direction... Everything has its downsides though and I think the downside of order flow is at s/r levels where order flow is taken advantage off by bigger firms that often lead to fake out/ price rejection candles....
  • #8,875
  • May 19, 2014 4:07pm May 19, 2014 4:07pm
Will check out the link.

True in regards to trading order flow but that's where experience with the instrument being traded comes into play. Getting a good read on price after 1000's upon 1000's of hours of screen time. I don't even concern myself with fakeouts, retracements and all the so called shenanigans most feel are bad. It just becomes a part of the read. It's trading. Big players are looking for the best price and will do whatever they need to do to get it even if it means inflicting mass pain on retailers. It's their playing field. They are here to do business not make friends. They can't hide though cause price is public. I got the read on their asses LOL.... Anyway, we'll see how long I last. I hope to be around for years with a good read on this. I Love this world. Wish I would have found it in my 20's. So far so good. Would love to get my hands on some real tools to actually see all there is to see with the orders. That would be sick.

Quoting waleed.khan
{quote} Yes trading order flow or rather anything quantified is less likely going to lead one to getting attached to an idea about price direction... Everything has its downsides though and I think the downside of order flow is at s/r levels where order flow is taken advantage off by bigger firms that often lead to fake out/ price rejection candles....
SPC * Swollen PocketZ Crew!
  • #8,876
  • May 19, 2014 4:13pm May 19, 2014 4:13pm
Quoting JoeNY
I Love this world. Wish I would have found it in my 20's. So far so good. {quote}
I wish I found out about it when I was a toddler...instead of playing with action figures and dinkies toys etc... Just imagine the thrills of price action & candlesticks!
  • #8,877
  • May 19, 2014 4:18pm May 19, 2014 4:18pm
I know.... I know...... Oh well Probably for the better. What 20 year old needs a Lamborghini. I would have drove it drunk right off a cliff full throttle.

Quoting waleed.khan
{quote} I wish I found out about it when I was a toddler...instead of playing with action figures and dinkies toys etc... Just imagine the thrills of price action & candlesticks!
SPC * Swollen PocketZ Crew!
  • #8,878
  • Edited 7:43pm May 19, 2014 4:52pm | Edited 7:43pm
Well,... it looks like Gold is flippin' some of us "The Bird" and with both hands no less..... Definitely trying to tell ya something. Just sayin'

(Not a prediction, just some foolin' around. Disregard downward arrow... Use your own due diligence. Don't trust guys that use crayons for charting)

Last post for real this time...... I need to get my head examined.... Take care all and good luck....

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SPC * Swollen PocketZ Crew!
  • #8,879
  • May 19, 2014 5:20pm May 19, 2014 5:20pm
Quoting JoeNY
Well it looks like Gold is flipping us all "The Bird" and with both hands no less..... Definitely trying to tell us something. Just sayin' (Not a prediction just foolin' around. Disregard downward arrow... Use your own due diligence. Dont trust guys that use crayons for charting) Last post for real this time...... I need to get my head examined.... Take care all and good luck.... {image} {image}
Recently have been noticing that no matter what the market is doing, the Asian session open and the UK session open have driving the price up, so while we may see some upward movement in the next couple of hours I am still bear on gold for the moment.
A genius is born every minute, me I am lucky if my socks match.
  • #8,880
  • May 19, 2014 5:44pm May 19, 2014 5:44pm
This morning the ECB, SNB and Swiss Riksbank of Sweden announced a new agreement for the gold and said it will continue to coordinate gold transactions to avoid market disruption.
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