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Only Gold!

  • #10,021
  • Jun 15, 2014 6:13am Jun 15, 2014 6:13am
Quoting MCube
Is there a relation between Natural Gas / Oil and Gold?? I mean if Gold is up NG / Oil goes down or vice versa? I'm kinda induced into thinking that way.. Specially between Gold and NG.. Thoughts??
oil use for burning, gold is not. dont think there is any direct relationship. think its easier to see if there is any relationship between inflation rate and oil price
  • #10,022
  • Edited 12:59pm Jun 15, 2014 12:30pm | Edited 12:59pm
I use stock indices and gold as a decent inverse relationship with the risk on (investing in stocks) , risk off (flight to safety..gold). Not always true but usually long gold short nasdaq and vice versa a lot of times. Unrest in the middle east does create fear, which will drive oil prices higher, sometimes people move into cash driving stock prices lower or buy gold as a safe haven driving prices higher...always nice to get the fundamentals and technicals in line but I don't pay much attention to news these days with all the manipulation of media...everything you need is right there in the chart.
  • #10,023
  • Jun 15, 2014 12:55pm Jun 15, 2014 12:55pm
Still looking bullish until a support is broken.


****Last red support should be below last swing point NOT above :-)
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  • #10,024
  • Jun 15, 2014 1:10pm Jun 15, 2014 1:10pm
triangle or change of trend from down to up...looks bullish coming off the double bottom and a possible higher low in place.
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  • #10,025
  • Jun 15, 2014 6:19pm Jun 15, 2014 6:19pm
That is a bullish formation, one I have been watching for a while now. A break of that trend line we are currently resistance we are testing will send us well into the 1300's in the coming weeks. I expect us to see these highs in July, as Options/Futures expiry will weigh on the metal until the 25th June. After that dont mess with the bull or you'll get the horns IMO.

Mitch

Quoting bayfisherman
triangle or change of trend from down to up...looks bullish coming off the double bottom and a possible higher low in place. {image}
  • #10,026
  • Jun 15, 2014 8:34pm Jun 15, 2014 8:34pm
Nothing like war-or the threat of war-to drive price action. Just closed 2 longs scalps from 1277, TP@ 1282. Think we could see further rise to 1288, and possibly higher to take out stops (not mine)...where I will reload more shorts (still have 4 shorts open). My analysis tells me that the current rise is not a trend reversal.
"The market can remain irrational longer than you can remain solvent"
  • #10,027
  • Jun 15, 2014 9:22pm Jun 15, 2014 9:22pm
Quoting Mitchoss
That is a bullish formation, one I have been watching for a while now. A break of that trend line we are currently resistance we are testing will send us well into the 1300's in the coming weeks. I expect us to see these highs in July, as Options/Futures expiry will weigh on the metal until the 25th June. After that dont mess with the bull or you'll get the horns IMO. Mitch {quote}
i wanna go against this bull and shorting now at $1281 tp $1269 .
  • #10,028
  • Jun 15, 2014 9:51pm Jun 15, 2014 9:51pm
A healthy retrace from these levels is ideal. Nothing goes straight up or down

Best of luck mate!
Mitch

Quoting acidguy
{quote} i wanna go against this bull and shorting now at $1281 tp $1269 .
  • #10,029
  • Jun 15, 2014 10:32pm Jun 15, 2014 10:32pm
Quoting nicefirework
{quote} Hedge mean opening opposite position within same instrument, so margin level will increase. if you open other instrument you need margin and therefore decrease margin level.
You guessed it right mate. If I had hedged with other pair, I would have mentioned it. Its Only Gold!
Hello World!
  • #10,030
  • Jun 15, 2014 10:35pm Jun 15, 2014 10:35pm
Quoting Super_Mario
{quote} Hedge = sell ? I.e. you buy 10lots @ 1240, and hedging 20% @ 1275 means you sell 2 lots @ 1275 ? Or "synthetic" hedging with other opposite instruments ?
Only Gold!

Hope some light by NY morning!
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Hello World!
  • #10,031
  • Jun 15, 2014 10:40pm Jun 15, 2014 10:40pm
Quoting acidguy
{quote} i wanna go against this bull and shorting now at $1281 tp $1269 .
I LIKE THAT
Arun
  • #10,032
  • Jun 16, 2014 2:27am Jun 16, 2014 2:27am
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looking to break the 200 and the trend line,, if it holds back to 1212,, if it breaks then 1355 trying short order 1287
  • #10,033
  • Jun 16, 2014 3:08am Jun 16, 2014 3:08am
Quoting Nevermindd
Hi All I've been following your forum for a while , and i like what u r doing here , i will share with you my point of view hoping you will find it useful , {image} from the above chart we see we have 1251.48 resistance that became support today, our next resistance will be 1277 as long as it holds 1251.48. {image} and here is the interesting part , the ADX is giving clear buy signal and so the RSI , but the interesting part in the RSI is that , the lower side of the descending triangle at 1277 that was broken is equivalent to 36.94 level on RSI...


Target reached
  • #10,034
  • Jun 16, 2014 4:19am Jun 16, 2014 4:19am
Opened short at 1282.
  • #10,035
  • Jun 16, 2014 4:20am Jun 16, 2014 4:20am
Quoting Nevermindd
{quote} Target reached
  • #10,036
  • Jun 16, 2014 5:59am Jun 16, 2014 5:59am
About 50% of longs hedged.
Hello World!
  • #10,037
  • Jun 16, 2014 6:15am Jun 16, 2014 6:15am
i was about to ask who is adding to longs and see that ClockTrader is hedging
anyway I will continue to hold to my longs maybe will add some if we retrace lower
  • #10,038
  • Jun 16, 2014 6:36am Jun 16, 2014 6:36am
Quoting ClockTrader
{quote} Only Gold! Hope some light by NY morning! {image}

You have some good trades there...well positioned to profit on longs if price action goes to 1288 or a bit higher, and to far out on your shorts.
"The market can remain irrational longer than you can remain solvent"
  • #10,039
  • Jun 16, 2014 6:49am Jun 16, 2014 6:49am
Does anyone here know how Indians fund their Forex accounts?

Banks will cancel debit/credit cards if I use them. I can't send wires either. Technically from legal point of view, Forex is now fully banned for Indian individuals. I know how it sounds like and its kinda off the the topic, but, any help would be highly appreciated.
Hello World!
  • #10,040
  • Jun 16, 2014 6:55am Jun 16, 2014 6:55am
Quoting ClockTrader
Does anyone here know how Indians fund their Forex accounts? Banks will cancel debit/credit cards if I use them. I can't send wires either. Technically from legal point of view, Forex is now fully banned for Indian individuals. I know how it sounds like and its kinda off the the topic, but, any help would be highly appreciated.
why is that?
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