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  • #9,341
  • May 29, 2014 7:43am May 29, 2014 7:43am
Quoting acidguy
{quote} pls keep a tight stop loss, i have mine at 1248, anything can happen since gold was in a bearish channel and we have to break resistance.

Its still to soon to say... pending home sales is still around the corner...
  • #9,342
  • May 29, 2014 7:44am May 29, 2014 7:44am
hi

whats take on the technical outlook

see the chart
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 92 KB
rocky1980
  • #9,343
  • May 29, 2014 7:47am May 29, 2014 7:47am
I am just thinking, If the Data is +ve then where we will be, who are Long in gold.
  • #9,344
  • May 29, 2014 7:54am May 29, 2014 7:54am
interestingly silver has played the opposite move... Pinbar on the verge of posting on the hourly!
  • #9,345
  • May 29, 2014 8:05am May 29, 2014 8:05am
Quoting waleed.khan
interestingly silver has played the opposite move... Pinbar on the verge of posting on the hourly!

still not gained momentum -- wait and watch is the best.... still the dominant trend is bear - so this will be crucial break or make for silver
rocky1980
  • #9,346
  • May 29, 2014 8:18am May 29, 2014 8:18am
Quoting rocky1980
{quote} still not gained momentum -- wait and watch is the best.... still the dominant trend is bear - so this will be crucial break or make for silver

Sitting out is the best; when in doubt stay out~! but yes i've started to feel that there is a little more downside for gold...still to soon to say though.. need more numbers...so far the gdp was just a hiccup (again they are blaming the weather...)

Nonetheless 1260 needs to break for a little retracement up...so far it is also clear that the volumes are not there. at this level..
  • #9,347
  • May 29, 2014 8:31am May 29, 2014 8:31am
Quoting waleed.khan
{quote} Sitting out is the best; when in doubt stay out~! but yes i've started to feel that there is a little more downside for gold...still to soon to say though.. need more numbers...so far the gdp was just a hiccup (again they are blaming the weather...) Nonetheless 1260 needs to break for a little retracement up...so far it is also clear that the volumes are not there. at this level..
because of the holiday maybe?
  • #9,348
  • May 29, 2014 8:36am May 29, 2014 8:36am
pp stopped 1296 and 94 ,,at 55 total 83 just gone long sl 49,
  • #9,349
  • May 29, 2014 8:41am May 29, 2014 8:41am
Quoting feinan
{quote} Golden Season Coming
Yea mate, I have waited so long for this season and I'm building test longs.

Quoting stylinex
{quote} New highs for SPX500 and new lows for Silver and Gold.
Fingers crossed! Anticipating a nice bounce tomorrow.
Hello World!
  • #9,350
  • May 29, 2014 8:42am May 29, 2014 8:42am
Quoting elbert3
pp stopped 1296 and 94 ,,at 55 total 83 just gone long sl 49,
Do you have the same mind as me?
Gold gonna go bull
But I think it won't reach 1290 for a few weeks later
  • #9,351
  • May 29, 2014 8:46am May 29, 2014 8:46am
http://www.forexfactory.com/news.php?do=news&id=487189

good news for bulls?
  • #9,352
  • May 29, 2014 8:46am May 29, 2014 8:46am
Quoting bonnzi
{quote} because of the holiday maybe?
Possibly parts of eu area is off..plus a lot of them might just take tomorrow off too..and make it a long weekend... maybe next friday might be the catalyst... with draghi and nfp! Major market move.....
  • #9,353
  • May 29, 2014 9:03am May 29, 2014 9:03am
I would like to wait for 12 pm NY (EST) instead of getting carried away by any other factor.
Hello World!
  • #9,354
  • May 29, 2014 9:04am May 29, 2014 9:04am
OK so if these numbers are not enough for the bounce to north than there is something wrong with this SH*T I guess..
Everything is gonna be OK at the end. If its not OK Its not the end
  • #9,355
  • May 29, 2014 9:09am May 29, 2014 9:09am
Well it has stopped the bears progress.

Just waiting for bulls to show some OMPFFT!!
  • #9,356
  • May 29, 2014 9:15am May 29, 2014 9:15am
Quoting biondo
OK so if these numbers are not enough for the bounce to north than there is something wrong with this SH*T I guess..
sometimes i see it like a train stopping, a strong momentum can not be stopped in minutes, Gold had a very bearish momentum, and its getting stopped by now.
Natural Gas is in the same process right now look at the very strong resistance at 4.631 , for some reason it touches the price and is sent lower.

gold recovery is not clear yet but there is some hope with momentum starting to reverse, there is too much QE in the market for gold to fall a lot,
fiat money needs to hide somewhere, thats why its impossible to see $800 gold again and why stocks ultimately always go higher.
  • #9,357
  • May 29, 2014 9:20am May 29, 2014 9:20am
For hours ago i was confident gold were going to fall down now i don't know. So i take long now have a hedge position..
  • #9,358
  • May 29, 2014 9:25am May 29, 2014 9:25am
The signals of a reversal are more and more strong...(H4)
This is the time to build a bull position...with low risk.
  • #9,359
  • May 29, 2014 9:31am May 29, 2014 9:31am
Quoting High-roller
I guess sends out a signal that gold is already oversold. And people are afraid to short here . . . But I took 1$ shorting ... lol. Damn.

I beg to differ sir, is oversold but we can look pass the RSI oversold value cause the RSI line is pointing downwards.
  • #9,360
  • May 29, 2014 9:32am May 29, 2014 9:32am
Quoting Yoshimura
The signals of a reversal are more and more strong...(H4) This is the time to build a bull position...with low risk.
.. where are your stops mate? Mine at 1248 ish.. But I am thinking to move them at 1252 ish at BE.. However, it might be too soon for that at the time being..
Everything is gonna be OK at the end. If its not OK Its not the end
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