Dislikedaccumulating gold etf, especially GDXJ to play longer term upswing, no stops. I think gold is carving bottom. CT what is your longer term view ? {image}Ignored
My view of spike in south may get invalidated.
Hello World!
- #9,941
- Jun 12, 2014 6:54am Jun 12, 2014 6:54am
- | Commercial User | Joined Aug 2007 | 6,072 Posts
Hello World!
- #9,942
- Jun 12, 2014 7:11am Jun 12, 2014 7:11am
- | Joined Jan 2009 | Status: Ex-pat New Yorker. | 1,053 Posts
{quote} Yes that is what I indirectly meant
I have a feeling that New York traders might take this up over 1277 to take out stops, before taking it down.
"The market can remain irrational longer than you can remain solvent"
- #9,947
- Jun 12, 2014 7:51am Jun 12, 2014 7:51am
- | Joined Jan 2009 | Status: Ex-pat New Yorker. | 1,053 Posts
"The market can remain irrational longer than you can remain solvent"
very strange price action to metals. Plattinum drop 3% palladium drop 4% today but gold and silver up 0,5%, why precius metal not follow others?
- #9,951
- Edited 8:24am Jun 12, 2014 8:09am | Edited 8:24am
I'm with you my friend.. not making much coin on the metals in the past 2 weeks. 
damn you quiet periods!
In saying that, I believe we are about to break the downtrend line formed on xag (sorry i know this is gold only), and could see a significant boost in gold, somewhere in the region of 1280 as you mentioned.
1270 should be a speed bump (not to be taken lightly), but I feel we are heading higher on technical's alone. AUDUSD has broken above the dreaded 0.94cent mark, the DJ30 has been retracing, along with SP500. This should give gold some legs.
Been wrong before! so please do your own research and trust your instincts, I am merely sharing my view like everyone else
Happy trades
Mitch
damn you quiet periods!In saying that, I believe we are about to break the downtrend line formed on xag (sorry i know this is gold only), and could see a significant boost in gold, somewhere in the region of 1280 as you mentioned.
1270 should be a speed bump (not to be taken lightly), but I feel we are heading higher on technical's alone. AUDUSD has broken above the dreaded 0.94cent mark, the DJ30 has been retracing, along with SP500. This should give gold some legs.
Been wrong before! so please do your own research and trust your instincts, I am merely sharing my view like everyone else
Happy trades
Mitch
Gold seems to be holding the 50 ema on the 1 hr chart; maybe the the iraq/oil situation trickles down into safe haven buying in the short term... Plus if the S&P continues to fall today...perhaps this might help in pushing gold up slightly... *for me personally* the gold market currently doesn't seem attractive to trade...too less volatility does not go well with my style of trading..currently for the last couple of weeks the oil market is providing good volatility to trade! I am still waiting for price to hit 1280 resistance (and it must have been...
- #9,952
- Jun 12, 2014 8:21am Jun 12, 2014 8:21am
- Joined Mar 2014 | Status: Trader | 1,062 Posts
I'm with you my friend.. not making much coin on the metals in the past 2 weeks.
Hey Man!
Yeah everything but gold seems to be trending...! Well I guess this explains why you have been missing from action in this thread lately
- #9,953
- Jun 12, 2014 8:24am Jun 12, 2014 8:24am
- Joined May 2012 | Status: Senior Member | 3,048 Posts
a decent retracement was expected, bears couldn't push any harder with this steep movement! from my past experience with gold, it's usually very much attracted to 23.6 & 50 Fibbo retracement, so as we have passed the 23.6, I'm looking for reversal signs in 1266 - 1271 zone to enter short (see below chart) {image}
- #9,955
- Jun 12, 2014 8:42am Jun 12, 2014 8:42am
- | Joined Jan 2009 | Status: Ex-pat New Yorker. | 1,053 Posts
"The market can remain irrational longer than you can remain solvent"
- #9,957
- Jun 12, 2014 9:08am Jun 12, 2014 9:08am
- Joined May 2012 | Status: Senior Member | 3,048 Posts
