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Only Gold!

  • #10,381
  • Jun 24, 2014 3:51am Jun 24, 2014 3:51am
the bulls usually wake up by NY session what's this?
  • #10,382
  • Jun 24, 2014 3:53am Jun 24, 2014 3:53am
Quoting biondo
Does anybody here has any explanation why gold is moving to north again?
Pump n dump... The big boys are early today..
Money Makes Money
  • #10,383
  • Edited 4:19am Jun 24, 2014 3:55am | Edited 4:19am
Quoting edln
Hi all, I am short both XAUUSD and XAGUSD. Stop at 1322 and 21.10, targeting 1305 and 20.60 for a short term trade (maybe intraday). Good luck to all... {image} {image}
Stopped from 1322 and 21.10 Maybe i'll try another shorts to hold tomorrow, because 25 June is the expiry day of gold and silver options (remembering the big move last month).

good luck to all...
  • #10,384
  • Jun 24, 2014 3:56am Jun 24, 2014 3:56am
Quoting biondo
Does anybody here has any explanation why gold is moving to north again?
too many shorts. this can go on for a while so stops, if short, are highly recommended.

everyone thinks <1000.
  • #10,385
  • Jun 24, 2014 3:58am Jun 24, 2014 3:58am
Quoting ClockTrader
{quote} The shorts with SL @ 1325 just blew in the air. I think I should stick to simple strategy, buy every week in June and July: regardless of where the price is regardless of bottom or top
My Shorts are hedged @1325, buy stop hits lets see what is the next level
  • #10,386
  • Jun 24, 2014 4:11am Jun 24, 2014 4:11am
my pivot point said the next level is 1331
  • #10,387
  • Jun 24, 2014 4:23am Jun 24, 2014 4:23am
Quoting seaman2
{quote} too many shorts. this can go on for a while so stops, if short, are highly recommended. everyone thinks <1000.
You were right about monstrous rally, however, going forward, the volatility and volumes suggest nothing but price correction.

I'll remain invested though, I was apparently trying shorts from wrong levels. Contracts are sweet and stress-free.
Hello World!
  • #10,388
  • Jun 24, 2014 4:44am Jun 24, 2014 4:44am
shortingen goldingen? trendingen breakingen 1346...notingen?
  • #10,389
  • Jun 24, 2014 4:51am Jun 24, 2014 4:51am
Quoting prototip
shortingen goldingen? trendingen breakingen 1346...notingen?
brutalyingen overboughtingel..retracementingel inevitableingel..
Everything is gonna be OK at the end. If its not OK Its not the end
  • #10,390
  • Jun 24, 2014 5:23am Jun 24, 2014 5:23am
Another $10 up and it'll be almost a $100 rally, this is something I would never ever expect in a month like June.

Gosh! the bulls are angry!! On the other hand, I'll continue to wait for a dip, hopefully a nice one by this weekend. I closed longs resting at 1271 to take some profit.
Hello World!
  • #10,391
  • Jun 24, 2014 5:34am Jun 24, 2014 5:34am
I think no more buy gold now. it time to sell for long
  • #10,392
  • Jun 24, 2014 5:43am Jun 24, 2014 5:43am
weekly chart of GDX - gold producers ETF. They tend to move with price of gold. Some would say reverse head and shoulder in making, subject to breaking trendline. If they go up, gold will go up.
Attached Image (click to enlarge)
Click to Enlarge Name: xxxt.PNG Size: 76 KB
  • #10,393
  • Jun 24, 2014 5:43am Jun 24, 2014 5:43am
Thats what i wanted to see, some more green action and now a small replacement from here or from 1330 will be completely normal down to 1310-1300$
  • #10,394
  • Jun 24, 2014 5:51am Jun 24, 2014 5:51am
Quoting edln
{quote} Stopped from 1322 and 21.10 Maybe i'll try another shorts to hold tomorrow, because 25 June is the expiry day of gold and silver options (remembering the big move last month). good luck to all...
can u plz explain how expiry day affects gold price and y only make it low y not high ? I do not know this that's y want to learn this concept.
P.S. Trade with the discipline of Money Management and Risk Management.
  • #10,395
  • Jun 24, 2014 5:52am Jun 24, 2014 5:52am
After all the toil, scalps, profit and loss, this is all I'm left with, yet again, most longs are hedged. I am relying on contracts to benefit from if this shoots again.

Badly seeking a fall.
Attached Image
Hello World!
  • #10,396
  • Jun 24, 2014 6:15am Jun 24, 2014 6:15am
It doesn't look bad at all clock, what are you planing for the shorts at 1299$ i believe you will only close them on profit but at what level ?
  • #10,397
  • Jun 24, 2014 6:15am Jun 24, 2014 6:15am
I am new to all of this and learning a lot from this forum for the past 8 months. I may be totally wrong but looks like 38.2% Fib is broken already and gold should break 1325 to 1335 for 50% Fib. I am long already from 1323. With RSI always overbought, correction is inevitable maybe from 1335 or 1348 to 1305 before rallying up again.

Please don't let this affect your analysis, I am just sharing my thoughts .
  • #10,398
  • Edited 8:10am Jun 24, 2014 6:27am | Edited 8:10am
Quoting farukh
{quote} can u plz explain how expiry day affects gold price and y only make it low y not high ? I do not know this that's y want to learn this concept.
In option expiry days there may be some strong movements, especially if the market is moving in sideways. Ex. last expiry date was 27 May and gold finally broke 1310-1280 range. There were too much long positions above 1300 and most of them stopped out becuse of this movement. Tomorrow we can see a strong movement due to this experience (it's not certain ofcourse). Most traders went long above 1300 after the last move, so it's probably the same for options. This means we can see a false down movement to make some in the money options valueless. If this happens most players can go long because most traders are waiting a retracement from these levels.
  • #10,399
  • Jun 24, 2014 6:31am Jun 24, 2014 6:31am
Quoting ClockTrader
After all the toil, scalps, profit and loss, this is all I'm left with, yet again, most longs are hedged. I am relying on contracts to benefit from if this shoots again. Badly seeking a fall. {image}
after this $10 up to take out many stop losses between $1320 and $1330, lets wait for a crazy spike up to around $1327, then fall like a stone to $12xx area.
  • #10,400
  • Jun 24, 2014 6:48am Jun 24, 2014 6:48am
Quoting edln
{quote} In option expiry days there may be some strong movements, especially if the market is moving in sideways. Ex. last expiry date was 27 May and gold finally broke 1310-1280 range. There were too much long positions above 1300 and most of them stopped out becuse of this movement. Tomorrow we can see a strong movement due to this experience (it's not certain ofcourse). Most traders went long above 1300 after the last move, so it's probably the same for options. This means we can see a false down movement to make some in the money options valueless....
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