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  • #9,261
  • May 28, 2014 8:47am May 28, 2014 8:47am
Quoting ThePolarFox
I was thinking, remember the price stalls with 1290 as pivot for weeks and once it went over 1321 few weeks ago everybody thought it was the begining of a bulltrend then it went back to pivot. What if we have same situation now caused by expiration of the contract ?
Do you mean that this falling price is just fake move?
Referring to what clocktreader said about Gold's Golden Season, I guess this falling price is just a trend
  • #9,262
  • May 28, 2014 8:59am May 28, 2014 8:59am
Attached Image (click to enlarge)
Click to Enlarge Name: gold4.png Size: 93 KB
lets see if this inverted fag works out, just had more or less the same set up gbusd
  • #9,263
  • May 28, 2014 8:59am May 28, 2014 8:59am
Long term Test longs (light) have begun, no stress as long as its above 1200

will stretch the weight as time passes OR IF it goes way below.
Hello World!
  • #9,264
  • May 28, 2014 9:00am May 28, 2014 9:00am
Yes it could be kind of a fake move due to contract expiration, as long as we're above 1250 I won't be convinced of a downtrend, so let's just see, Gold has been directionless for weeks/months so we have absolutely no way to predict anything especialy with the buying season coming.
  • #9,265
  • May 28, 2014 9:07am May 28, 2014 9:07am
Quoting ThePolarFox
Yes it could be kind of a fake move due to contract expiration, as long as we're above 1250 I won't be convinced of a downtrend, so let's just see, Gold has been directionless for weeks/months so we have absolutely no way to predict anything especialy with the buying season coming.
i hold this bias... but i am watching usd index carefully.. as its broken resistance area and is looking very strong... it is a possibility that the correlation might break for short term.. as euro has broken key support area and is shooting the dollar up... but I would still be careful.

Hopefully we have a doji on todays close... as that should mean that price will go up tomorrow...
  • #9,266
  • May 28, 2014 9:54am May 28, 2014 9:54am
it is the first time this year gold drop dipper than silver.
  • #9,267
  • May 28, 2014 10:44am May 28, 2014 10:44am
Quoting nicefirework
it is the first time this year gold drop dipper than silver.
Seems silver is still in a big consolidation mode. If this triangle breaks, it could send silver to 15$ or lower.

Attached Image (click to enlarge)
Click to Enlarge Name: XAGUSD_W1_2014-05-28.png Size: 78 KB
  • #9,268
  • May 28, 2014 10:52am May 28, 2014 10:52am
Quoting ClockTrader
Long term Test longs (light) have begun, no stress as long as its above 1200 will stretch the weight as time passes OR IF it goes way below.
I am glad that I'm not sitting on sidelines anymore but testing long term longs (light). Plan to build these longs over next 4 - 8 weeks. Hopefully, this should bottom out within a day or two OR has it already? This time it doesn't matter much coz its about seasons. Gosh!! I didn't check the news time triggers today at all, wooooh! I'll take a quick look now.

Its about time, have a nice one you all!
Hello World!
  • #9,269
  • May 28, 2014 10:52am May 28, 2014 10:52am
Quoting elbert3
{image} lets see if this inverted fag works out, just had more or less the same set up gbusd
pp now 1260 as above
  • #9,270
  • May 28, 2014 11:02am May 28, 2014 11:02am
Gold Daily pattern remains valid...
Attached Image (click to enlarge)
Click to Enlarge Name: Spot Gold Daily (-).png Size: 18 KB
  • #9,271
  • May 28, 2014 11:08am May 28, 2014 11:08am
Quoting JimmyC
Gold Daily pattern remains valid... {image}
Hi JimmyC,

I'm fairly new here and would like to understand what you mean. Do you mean with '' pattern remains valid '' that there is still a valid possibility that the price will go back into the triangle? Or do you mean that the triangle has confirmed the move and that it will go down further?

Best regards,

Frietzak
  • #9,272
  • May 28, 2014 11:36am May 28, 2014 11:36am
Quoting ClockTrader
{quote} I am glad that I'm not sitting on sidelines anymore but testing long term longs (light). Plan to build these longs over next 4 - 8 weeks. Hopefully, this should bottom out within a day or two OR has it already? This time it doesn't matter much coz its about seasons. Gosh!! I didn't check the news time triggers today at all, wooooh! I'll take a quick look now. Its about time, have a nice one you all!
agree, dont bellieve there is more short term downside ahead, one of the things that make me bellieve in this view is Silver PA 19 is getting well defended,
then gold follows, even when USA news are very positive, rates are not going to be raised up as fast as investor bellieved, there is a coming CPI surprise that will worry the market, also watch out this :

USD Prelim GDP , USD Unemployment

last time drove gold from $1.275 to $1305 in a few minutes.



if anyone wanna trade a great stock now and make some easy cash, buy twitter and hold it some days...
  • #9,273
  • May 28, 2014 11:41am May 28, 2014 11:41am
Quoting frietzak
{quote} Hi JimmyC, I'm fairly new here and would like to understand what you mean. Do you mean with '' pattern remains valid '' that there is still a valid possibility that the price will go back into the triangle? Or do you mean that the triangle has confirmed the move and that it will go down further? Best regards, Frietzak
Hi

I'm a technical trader (position not intra-day) I look for consolidation in specific patterns, then trade the breakouts.


High probability setup: Symmetrical Triangle
The symmetrical Triangle is a 51% continuation pattern in direction of the trend (it can go both ways though). high probability 75% or more of reaching its target
its target is 1226 measured
I plan to hold this trade to target, it might take some days to get there. My stop is 1300 will move it to 1275 when price moves to 40's

I trust that makes enough sense

Regards',

J
  • #9,274
  • May 28, 2014 12:00pm May 28, 2014 12:00pm
Quoting acidguy
{quote} agree, dont bellieve there is more short term downside ahead, one of the things that make me bellieve in this view is Silver PA 19 is getting well defended, then gold follows, even when USA news are very positive, rates are not going to be raised up as fast as investor bellieved, there is a coming CPI surprise that will worry the market, also watch out this : USD Prelim GDP , USD Unemployment last time drove gold from $1.275 to $1305 in a few minutes. if anyone wanna trade a great stock now and make some easy cash, buy twitter and hold it...
yeah bloomberg says tomorrows Prelim GdP is expected to be worst in 3 years...

why do you mention twitter..

wti is a good short from 104.2...its testing resistance now; more downside expected 102.7
  • #9,275
  • May 28, 2014 12:25pm May 28, 2014 12:25pm
Quoting waleed.khan
{quote} yeah bloomberg says tomorrows Prelim GdP is expected to be worst in 3 years... why do you mention twitter.. wti is a good short from 104.2...its testing resistance now; more downside expected 102.7
im short oil also, i shorted early at 102.90 when contracts expired at opening price but im happy with current position, im targeting $100 next week not to mention oil is going for around $85 in the next 3 months.

i mentioned twitter if anyone did not have any trading idea, since it stock collapsed from $70 to $29 very quickly, stock was upgraded yesterday by nomura and it looks beautiful technically to go long,
its going to recover fast to $40, current price is $32.67 when i wrote the post was at 31.70.
  • #9,276
  • May 28, 2014 12:33pm May 28, 2014 12:33pm
Quoting acidguy
{quote} im short oil also, i shorted early at 102.90 when contracts expired at opening price but im happy with current position, im targeting $100 next week not to mention oil is going for around $85 in the next 3 months. i mentioned twitter if anyone did not have any trading idea, since it stock collapsed from $70 to $29 very quickly, stock was upgraded yesterday by nomura and it looks beautiful technically to go long, its going to recover fast to $40, currency price is $32.67 when i wrote the post was at 31.70.

I can see $100..but $85; hmmm... I think I better research the chart more deeply...If anything would be amazing to add more shorts...

Thanks for the tip on twitter... Don't trade stocks actively... do you trade them as cfd's or actual stock?
  • #9,277
  • May 28, 2014 12:43pm May 28, 2014 12:43pm
Quoting waleed.khan
{quote} yeah bloomberg says tomorrows Prelim GdP is expected to be worst in 3 years... why do you mention twitter.. wti is a good short from 104.2...its testing resistance now; more downside expected 102.7
Hi Waleed Khan,

Could you give me your source on the Bloombergs forecast on the Prelim Gdp. I'm interested to read an article about this matter.

Thanks in advance.

Best regards,

Frietzak
  • #9,278
  • May 28, 2014 12:52pm May 28, 2014 12:52pm
Quoting frietzak
{quote} Hi Waleed Khan, Could you give me your source on the Bloombergs forecast on the Prelim Gdp. I'm interested to read an article about this matter. Thanks in advance. Best regards, Frietzak

Hi Frietzak...

I heard Adam johnson mention this on "lunch money"... Take a look in their bloomberg video clip feeds (it might show up soon)... Just check tomorrow's calendar at forex factory and see the forecast at -0.6.

If I come across it; I'll remember to post it for you...

Cheers!
  • #9,279
  • May 28, 2014 1:19pm May 28, 2014 1:19pm
Quoting waleed.khan
{quote} Hi Frietzak... I heard Adam johnson mention this on "lunch money"... Take a look in their bloomberg video clip feeds (it might show up soon)... Just check tomorrow's calendar at forex factory and see the forecast at -0.6. If I come across it; I'll remember to post it for you... Cheers!
Hi Waleed Khan,

Thanks! You´re awesome! I´ve been able to find it back on the Bloomberg website.

For those who are interested: http://www.bloomberg.com/video/a-loo...8YCvG0mzw.html

Best regards,

Frietzak
  • #9,280
  • May 28, 2014 1:25pm May 28, 2014 1:25pm
Quoting frietzak
{quote} Hi Waleed Khan, Thanks! You´re awesome! I´ve been able to find it back on the Bloomberg website. For those who are interested: http://www.bloomberg.com/video/a-loo...8YCvG0mzw.html Best regards, Frietzak

No worries...glad to help!

Even though it goes without saying that this figure is already priced in the market... and a number that hits within that range should not affect Price that much... but the market has its way of spiking high or low and will ultimately take out stops in key areas nonetheless....
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