Only Gold!

Daily- break trend line with huge momentum, there is some room to north.
Weekly- gaining strength, most probably break up the trend line.
Monthly- I am expecting huge down movement after this retracement.

Thanks, Ninja Trader platform... I use CQG/Amp Futures and kinetic data feed

1332-33 strong sell point bro on my reading 1180 to 1433 retracement 72% 1251 and up retracement 60.8% 1361 and 1361 to 1182 163%
second 1182 to 1392 retracement 72% 1240 and up retracement 60.8% 1332-33 and 1332 to 1186 163% but third leg ithing broke 1180 and new low 1155 and 1155 to strong buy target 1490 onmy view

What do you get when you club CNN with Ben Rooney?

CNN + Ben Rooney = Bunch of Losers

http://money.cnn.com/2014/06/20/inve...ces/index.html

A fella named Ben Rooney misses the train, most probably he shorted and is shitting his pants after margin calls, out of frustration writes a loser's article.

So? I say let a loser like Rooney piss in the wind and lets count the money baby!!

we'll know golds direction once we're through july. Im not ruling out a big bearish movement.

to all members..............what is your opinion on this chart?

Thanks

This is my view buddy, price is going upp up upppp

Thats BoFa chart and their opinion

down then up, i think a dip this week followed by a bull push through until September or October.

Agreed more up then a new low below 1180, the pattern looks pretty clean, near term pullback before the move up is likely.

Possible count/scenario for near term up leg.

well..... for entry point for buy/sell........ must answer this questions in the daily chart,on the particular moment when gold reach at the triangle top,
questions to find answer..........
1.what kind of trend are we in? bull or bear?

2.what number of waves touching triangle trend line? 3-2 or 2-3 or else?

3.what is the present status of dollar index and war situation in the world?

when you know the answer you will know the breakout point of the triangle............then the decision is easier to place a order i think.....



and one thing to remember 'dollar' is the symbol of americans...they will never give up the bear market of gold this easy...$1430 level of gold is the most significant level of bear market.....I am waiting to buy a deep also...........lets see..........

With the current situation in Iraq for me selling is not an option only buying but at the right level.

Please don't think I am bias to the upside purely because im positioned for it, I have been long for WEEKS, and also played the short side in between.

The move last week had some serious power behind it, wiping out resistance levels like they were nothing. The healthy retrace we saw back to 1310/1305 region was short lived, which is a strong idicator we are heading higher as the bulls are not done. I warned weeks ago that if you mess with the bull, you'll get the horns..

I recommend people to look at how the COT reports read just before we bottomed out in 2010 before entering a very strong up trend. The reports showed extremely heavy exposure to net short while the bullion banks were slowing repositioning to net long. Shortly after we saw the shorts franticly covering shorts which only fueled the run up. Toward the highs we reached around the 1900 mark we started to see the bullion banks shift momentum to the short side.

What I feel is happening now is a repeat of those 2010 lows, I'm willing to bet my left nut that tuesdays COT report will show quite a significant increase in bullion banks exposure to the upside.

Ask yourself, if you were a bank, and almost every hedge fund, small speculator is net short.. isn't there a great opportunity to squeeze some shorts? That is exactly what these big fellas do. Also, the big moves ALWAYS come after the COT reports come out, so by the time you see the report, the positions are set and you've most likely missed the move. They are not a great indicator to base your trade off for the week, but they are a fantastic tool you should use as reference material to check the momentum of the market.

In closing, please don't go open a long based on what I've just said.. I was infact looking more long term with my longs, though I won't be opening any more, I will chose to hedge by playing the short side as I see fit, rather than over-expose myself to the upside just incase we do slip back down. Some of the best money can be made on retracements from highs, and bounces from lows.

I personally want to see 1300 tested a couple more times, and if we cement it as support... pack your bags shorts

Thanks
Mitch

OANDA uses NY [EST] timezone in their MT4.

Does anyone know of any broker who uses GMT / UTC (Iceland) in their MT4?

i think SVI uses GMT in their MT4

ICM BROKERS

\ markets.com uses GMT(coordinated Universal Time) in mt4

Thanks a ton Fellas!

hello everyone,
there is a wisdom: if everybody says buy - start selling and of course it is quite logical - because every cent earned by someone must be taken out from other trader's pocket. other way - the majority must be wrong. this is why I am a little bit worried about all this "buying hurra"

in spite of all above I am also long. and the retracement to 1290-1300 area would be really nice and ideal accordingly to my tools.