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Only Gold!

  • #10,121
  • Jun 17, 2014 9:53am Jun 17, 2014 9:53am
just my opinion, but I make a point of not listening to the manipulated media/news and just trade what I see on the chart..there goes NQ
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  • #10,122
  • Jun 17, 2014 9:55am Jun 17, 2014 9:55am
Closed all my shorts now and will wait until FOMC tomorrow.
Hope I can see a clearer picture then gl to you all
  • #10,123
  • Edited 11:31am Jun 17, 2014 11:08am | Edited 11:31am
Quoting Ranjeet1488
{quote} I think gold should bounce back up from here for two reasons: firstly the on going crisis in Iraq and Ukraine and secondly the unexpected rise in CPI (as Gold is traditionally hedge against inflation and the last three month's decline was mainly due to deflationary pressures)
yes, but there is 1 thing besides all that putting stronger bearish pressure.
China crisis + Gold Technicals....

this rally is short lived, $1271-$1274 before going to $1263 again, short term target is $1257 .
  • #10,124
  • Jun 17, 2014 11:58am Jun 17, 2014 11:58am
Quoting Ranjeet1488
{quote} I think gold should bounce back up from here for two reasons: firstly the on going crisis in Iraq and Ukraine and secondly the unexpected rise in CPI (as Gold is traditionally hedge against inflation and the last three month's decline was mainly due to deflationary pressures)
yes, gold has been a hedge against inflation...but when central banks raise rates, that attracts investment, and gold prices tend to decline. I remember in the early 1980s when Fed Chairman Volker raised rates and gold prices crashed. I am not saying that is the scenario today, but I would be cautious. If Yellen follows Carney...then rates will go up in 2015 and gold prices will likely decline.
"The market can remain irrational longer than you can remain solvent"
  • #10,125
  • Jun 17, 2014 12:11pm Jun 17, 2014 12:11pm
Quoting anton.olff
{quote} yes, gold has been a hedge against inflation...but when central banks raise rates, that attracts investment, and gold prices tend to decline. I remember in the early 1980s when Fed Chairman Volker raised rates and gold prices crashed. I am not saying that is the scenario today, but I would be cautious. If Yellen follows Carney...then rates will go up in 2015 and gold prices will likely decline.

hmmm... Yellen is not going to follow Carney...

U.s needs GDP growth, plus its targeting 2-3 inflation... right now we are barely seeing those figures (even though they are tapering; the Fed cannot announce interest rate hikes in their forward guidance...it will be counter productive to what it wants to achieve and could back fire...

The Fed also wants a weaker dollar; which can help with achieving 2-3% inflation targets (as imports become more expensive) and not to mention the boost to U.S exports that can come; which will help their GDP growth...

Low interest rates also ties into low mortgage rates...which the U.s needs in order for the housing sector to recover...There is a lot of work to be done here...
Hence I really think it is premature to talk about interest rate hikes...(end of 2015-summer 2016) regardless of what Carney does...
  • #10,126
  • Jun 18, 2014 3:14am Jun 18, 2014 3:14am
Quoting ClockTrader
{quote} Only Gold! Hope some light by NY morning! {image}
dear ClockTrader - could You explain how you work with the positions built like this? thank You in advance, i would really apretiate.
Mind is like a parachute - it is useful only if open
  • #10,127
  • Jun 18, 2014 3:25am Jun 18, 2014 3:25am
Looks like we retraced 50.0 of the down move and its still bearish.
London open respected the top line of Asian down move and we got rejected by prior resistance around 1266.5.
Lets see if we can break it and get out of the m15 cloud.
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  • #10,128
  • Jun 18, 2014 4:24am Jun 18, 2014 4:24am
this is my opinion on gold. i have a lot of experience in trading although i have been dormant in forexfactory.
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follow @Elliotwavetiger @peternormans for big pips
  • #10,129
  • Jun 18, 2014 4:40am Jun 18, 2014 4:40am
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  • #10,130
  • Jun 18, 2014 5:50am Jun 18, 2014 5:50am
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  • #10,131
  • Jun 18, 2014 6:02am Jun 18, 2014 6:02am
long now !? correct?
  • #10,132
  • Jun 18, 2014 6:16am Jun 18, 2014 6:16am
Quoting cxgiugn
long now !? correct?
I would wait until we clear the resistance to the top.
Atm still rejected by 1272,xx and a triple top @ H4 here.
Guess its sideways till FOMC
  • #10,133
  • Jun 18, 2014 6:26am Jun 18, 2014 6:26am
this analayz from mr yazdi..i think this correct
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  • #10,134
  • Jun 18, 2014 6:30am Jun 18, 2014 6:30am
Fellas,

Today I need your advise. I intend to invest for long term, unable to cope up with $10 up / down. I keep losing peace of mind.

IF it falls like $30 - $50 or way more over the next 10 days or later tonight, I would be more than happy to buy. Yes, I would indeed be very happy to buy at lower levels. However, I would hate if Gold flies high without taking my load. I strongly believe that bottom forms in the month of June every year.

As far as my technicals are concerned, I strongly think that Gold should fall, but, I can't take the risk. I cleared all the shorts (hedges).

Please advise what you think?
Hello World!
  • #10,135
  • Jun 18, 2014 6:39am Jun 18, 2014 6:39am
Quoting ClockTrader
Fellas, Today I need your advise. I intend to invest for long term, unable to cope up with $10 up / down. I keep losing peace of mind. IF it falls like $30 - $50 or way more over the next 10 days or later tonight, I would be more than happy to buy. Yes, I would indeed be very happy to buy at lower levels. However, I would hate if Gold flies high without taking my load. I strongly believe that bottom forms in the month of June every year. As far as my technicals are concerned, I strongly think that Gold should fall, but, I can't take the risk. I...
no short, buy if it falls... it will fall for making pressure that dollar is strong...
  • #10,136
  • Jun 18, 2014 6:58am Jun 18, 2014 6:58am
Technical I see lil bit more down (around 1240 at least). But since yesterday im lost.

After we tested the bottom or at least 1240 Im ready to load for longterm trades.
But im scared FOMC will send this up for some reason and it will not come back
  • #10,137
  • Jun 18, 2014 7:06am Jun 18, 2014 7:06am
Quoting ClockTrader
Fellas, Today I need your advise. I intend to invest for long term, unable to cope up with $10 up / down. I keep losing peace of mind. IF it falls like $30 - $50 or way more over the next 10 days or later tonight, I would be more than happy to buy. Yes, I would indeed be very happy to buy at lower levels. However, I would hate if Gold flies high without taking my load. I strongly believe that bottom forms in the month of June every year. As far as my technicals are concerned, I strongly think that Gold should fall, but, I can't take the risk. I...
i think buy will be good option. but wait for the FOMC, may be market takes some direction then..... good luck
  • #10,138
  • Jun 18, 2014 8:03am Jun 18, 2014 8:03am
Quoting prototip
{quote} no short, buy if it falls... it will fall for making pressure that dollar is strong...
Quoting trendsbhatti
{quote} i think buy will be good option. but wait for the FOMC, may be market takes some direction then..... good luck
When it comes to long term longs, I happen to be highly conservative, so timid that I least use the funds. I am least loaded right now, just trying to play safe.



Thanks for the advise fellas!
Hello World!
  • #10,139
  • Jun 18, 2014 8:13am Jun 18, 2014 8:13am
Quoting ClockTrader
{quote} {quote} When it comes to long term longs, I happen to be highly conservative, so timid that I least use the funds. I am least loaded right now, just trying to play safe. Thanks for the advise fellas!
If your heart says long and you're expecting the collapse of the USD soon (you don't wanna miss the boat), it's probably a good strategy to start building your longs now.

Get in now so you won't feel like you miss out if gold price suddenly takes off (eliminate fear), but also small enough (eliminate greed) so that if it goes south, you're not troubled or your capital doesn't get hit too hard.

Of course, this all depends on your risk management and appetite for risk.

And when the direction becomes clear to you, and up is clearly where gold is going, then start adding to your longs.

This is probably your best and safest strategy right now.

My two cents buddy.

P.S I've grown my account pretty substantially over the past few months in AUD/USD with this same strategy. And if I were trading gold right now, this is what I would do.
  • #10,140
  • Jun 18, 2014 8:15am Jun 18, 2014 8:15am
Quoting ClockTrader
{quote} {quote} When it comes to long term longs, I happen to be highly conservative, so timid that I least use the funds. I am least loaded right now, just trying to play safe. Thanks for the advise fellas!
dont be greedy you already have some longs
if it goes down after FOMC and u are a long term bull will add
if it goes up after FOMC... well what the heck there is plenty of time till 1387
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