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Only Gold!

  • #9,001
  • May 21, 2014 8:29am May 21, 2014 8:29am
Quoting Super_Mario
{quote} OMG, I just asked one simple question and you replied with small sermon If rally starts in last days of June will this be within your Golden Seasons system ?
YES! :-)
Hello World!
  • #9,002
  • May 21, 2014 8:50am May 21, 2014 8:50am
29th of this Month
  • #9,003
  • May 21, 2014 8:51am May 21, 2014 8:51am
What spread you guys have on silver i feel mine is kind of high at $0.04
  • #9,004
  • May 21, 2014 9:06am May 21, 2014 9:06am
Something has to give within the next week or two with Gold. The ascending/descending TL's are really tightening now, so we have the top at ~1301 and bottom at ~1286, tightening daily.

Personally, I favour a break to the downside. My TP remains 1181. I just closed 1/4 of my shorts @ 1288 to protect some profit. Will reload at 1300 if the opportunity presents itself.
  • #9,005
  • May 21, 2014 9:34am May 21, 2014 9:34am
Quoting diggo
Something has to give within the next week or two with Gold. The ascending/descending TL's are really tightening now, so we have the top at ~1301 and bottom at ~1286, tightening daily. Personally, I favour a break to the downside. My TP remains 1181. I just closed 1/4 of my shorts @ 1288 to protect some profit. Will reload at 1300 if the opportunity presents itself.
This reflects my point of view and strategy as well. The range is so tight we're likely to see a breakout with huge volatility. I wouldn't be surprised if gold reached 1325 before coming down.
"The market can remain irrational longer than you can remain solvent"
  • #9,006
  • May 21, 2014 9:34am May 21, 2014 9:34am
I just noticed in the kitco 24 hour chart (5min) what looks like a very rough and vague outline of a head and shoulders pattern. It Barely fits the definition of a H&S, but it does look like its within the classic final pullback zone.


mmmmm.... the patient wait for Gold to break free from the narrow spread and move into a new long term trend is doing my mind in...
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  • #9,007
  • May 21, 2014 9:46am May 21, 2014 9:46am
Quoting anton.olff
{quote} This reflects my point of view and strategy as well. The range is so tight we're likely to see a breakout with huge volatility. I wouldn't be surprised if gold reached 1325 before coming down.
Silver has a similar setup right now, albeit with a much steeper (ie: less reliable) descending TL. The two TL's are about to cross. Worth watching, will give clues to the short term direction of gold.
  • #9,008
  • May 21, 2014 10:29am May 21, 2014 10:29am
Quoting Dafonz
I just noticed in the kitco 24 hour chart (5min) what looks like a very rough and vague outline of a head and shoulders pattern. It Barely fits the definition of a H&S, but it does look like its within the classic final pullback zone. mmmmm.... the patient wait for Gold to break free from the narrow spread and move into a new long term trend is doing my mind in... {image}
The long term trend of Gold is long, take a look at monthly and yearly chart. The current trend is not clear as its been moving sideways for 60 days in a row. Being that said, I think the current cycles are bearish.
Hello World!
  • #9,009
  • May 21, 2014 10:32am May 21, 2014 10:32am
Quoting Super_Mario
{quote} OMG, I just asked one simple question and you replied with small sermon If rally starts in last days of June will this be within your Golden Seasons system ?
Whatever I write here is looked at by tens of people, sometimes even hundreds in 24 hrs. So, if I write in detail, which may be beyond the scope of your question that might help numerous people here.

Secondly, Golden Seasons has a large scope, its a macro fundamental, elaborating it would finally only help people here.
Hello World!
  • #9,010
  • May 21, 2014 12:03pm May 21, 2014 12:03pm
wow, can we reach 1180 again? Bears are keeping the pressure...
  • #9,011
  • May 21, 2014 1:13pm May 21, 2014 1:13pm
Took 3 of my 4 short trades out with profit when gold dipped to 1283. We might see a bounce back up to 1300....
"The market can remain irrational longer than you can remain solvent"
  • #9,012
  • May 21, 2014 1:18pm May 21, 2014 1:18pm
Quoting anton.olff
Took 3 of my 4 short trades out with profit when gold dipped to 1283. We might see a bounce back up to 1300....
Nice calls.
  • #9,013
  • May 21, 2014 7:28pm May 21, 2014 7:28pm
Staying out until I see some established direction.
Life is too short to have anything but delusional notions about yourself.
  • #9,014
  • Edited May 22, 2014 12:12am May 21, 2014 11:35pm | Edited May 22, 2014 12:12am
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bearish thought
no other killers to me but emotion
  • #9,015
  • May 22, 2014 2:02am May 22, 2014 2:02am
Is gold on an uptrend at the moment? Should we go long?

Is it true that it will hit 1300 levels?
  • #9,016
  • May 22, 2014 2:39am May 22, 2014 2:39am
Yesterday was a loss. Again bought today. Anybody care to join me!!!
Arun
  • #9,017
  • May 22, 2014 2:53am May 22, 2014 2:53am
Quoting rahimsaa
Is gold on an uptrend at the moment? Should we go long? Is it true that it will hit 1300 levels?
Quoting arunthegreat
Yesterday was a loss. Again bought today. Anybody care to join me!!!
1300 is well within current tight range, we have no clear direction until the price breaks out either direction.

My bias is bear since the price pattern resembles a bear pennant which is a bear continuation, however it is not impossible for the price to break upside.

(And CT's advice is to start buying only in June / end June ..., but of course nothing is certain until we get there)

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  • #9,018
  • May 22, 2014 2:55am May 22, 2014 2:55am
everyone has been hoping for bull.. infact symptoms are also showing the same but still bears are fighting against.
yesterday FED minutes did not affect gold much. on the other hand dollar rises. again a signal of a very strong support down at 1280.
having said all this.. still it is expected to be in range bound for some more days
P.S. Trade with the discipline of Money Management and Risk Management.
  • #9,019
  • May 22, 2014 3:44am May 22, 2014 3:44am
Quoting Mitchoss
Looking for another leg down before im considering a long. Id like to see 1280 or even 1275 tested. Llike I said, sidelined at the moment.

But why are you disabling your trade explorer when you are on red (Gold/Silver Trading - Live Return This Year: 1,062.4% )?
Now magically is back again.
Good job anyway.
  • #9,020
  • May 22, 2014 4:36am May 22, 2014 4:36am
Yellen speech stop gold collaps yesterday. I see V-pattern in H1 chart, dont know how strong this pattern.
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