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Only Gold!

  • #10,401
  • Jun 24, 2014 6:55am Jun 24, 2014 6:55am
Quoting atom3
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 ?
I would close these shorts whenever volatility supports a move-up.
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  • #10,402
  • Jun 24, 2014 6:58am Jun 24, 2014 6:58am
Quoting acidguy
{quote} 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.
I thought 1300 was a good area to hedge the longs, then 1315. I was wrong both of the times.

and now @ 1325, a final 'peak out' looks close, I maybe wrong again. Whatever the PA, I would like to invest on a nice dip, lets see how the remainder of this week unfolds. I hope I get a long opportunity by Friday NY morning.
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  • #10,403
  • Jun 24, 2014 7:06am Jun 24, 2014 7:06am
Quoting KiwiOz
{quote} Pump n dump... The big boys are early today..
And right on time for the dump..
Money Makes Money
  • #10,404
  • Jun 24, 2014 7:09am Jun 24, 2014 7:09am
Quoting acidguy
{quote} 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.
I think this is good, things dont simply go straight up. while my overall sentiment is bullish this year this rally has to correct soon.
  • #10,405
  • Jun 24, 2014 7:15am Jun 24, 2014 7:15am
to 1290-1300 for now then straight back up
  • #10,406
  • Jun 24, 2014 7:18am Jun 24, 2014 7:18am
Based on hourly support and resistance price is headed south to $1315-$1318 area then back up to $1332 before it finalizes a trend down for the coming month imo
  • #10,407
  • Jun 24, 2014 7:44am Jun 24, 2014 7:44am
Today we touch 1331/32 I think
  • #10,408
  • Jun 24, 2014 7:55am Jun 24, 2014 7:55am
Hedged each long I had, now desperately seeking a fall.

PS: I'll keep contracts clean with longs only.
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  • #10,409
  • Jun 24, 2014 8:09am Jun 24, 2014 8:09am
Quoting ClockTrader
Hedged each long I had, now desperately seeking a fall. PS: I'll keep contracts clean with longs only.
those beautiful red big candles and bullish fading momentum are saying something.
we need some sweet CB Confidence USA data and crazy things could happen like gold erasing last week gains in a few days,
sure will be a very rocky ride, Bulls will defend with force $1300-$1310 as it could signal a continuation of the bear, below $1299 path is cleared.

personally full short at $1319 tp $1275 sl $1340
  • #10,410
  • Jun 24, 2014 8:22am Jun 24, 2014 8:22am
Quoting acidguy
{quote} those beautiful red big candles and bullish fading momentum are saying something. we need some sweet CB Confidence USA data and crazy things could happen like gold erasing last week gains in a few days, surewill be a very rocky ride, Bulls will defend with force $1300-$1310, below $1299 path is cleared.
IMHO, there is no way Gold is going back to 1240 area. Earlier I thought it could go way down to 1260, now that seems tough too.

Even if it can reach 1280 area, that would be a Giant fall and possibly a time to buy (assuming volatility supports).

Like I've said several times before, Gold is out of the woods!

I am awaiting a bottom out on H1 with smart VSA with reasonable volumes, I'm very hopeful of getting it by this weekend or latest by mid of next week.
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  • #10,411
  • Jun 24, 2014 8:32am Jun 24, 2014 8:32am
Quoting ClockTrader
{quote} IMHO, there is no way Gold is going back to 1240 area. Earlier I thought it could go way down to 1260, now that seems tough too. Even if it can reach 1280 area, that would be a Giant fall and possibly a time to buy (assuming volatility supports). Like I've said several times before, Gold is out of the woods! I am awaiting a bottom out on H1 with smart VSA with reasonable volumes, I'm very hopeful of getting it by this weekend or latest by mid of next week.
there are 2 possible paths for 2014. $1100 or $1400 according to Global Investment firms.
in the crazy arena also there are calls for $900 (crazy banks) or $2000 (Kitco sponsored analysis)
  • #10,412
  • Jun 24, 2014 8:39am Jun 24, 2014 8:39am
I hope for a quick spike to 1330 and will try my chances there for a correction down to 1310 or 1300 i'll decide that later because right now market doesn't seems convinced which way to go
  • #10,413
  • Jun 24, 2014 8:40am Jun 24, 2014 8:40am
Quoting atom3
I hope for a quick spike to 1330 and will try my chances there for a correction down to 1310 or 1300 i'll decide that later
if you pray hard, it will happen.
  • #10,414
  • Jun 24, 2014 8:47am Jun 24, 2014 8:47am
Quoting ClockTrader
{quote} IMHO, there is no way Gold is going back to 1240 area. Earlier I thought it could go way down to 1260, now that seems tough too. Even if it can reach 1280 area, that would be a Giant fall and possibly a time to buy (assuming volatility supports). Like I've said several times before, Gold is out of the woods! I am awaiting a bottom out on H1 with smart VSA with reasonable volumes, I'm very hopeful of getting it by this weekend or latest by mid of next week.
I would never say that "no way" gold is going to do this or that. If you look at daily, weekly and monthly charts, it appears that gold is in a range. If you recall, gold peaked up near 1390 range at the height of the Ukraine crisis a few short months ago. It then retraced more than $100. Two weeks ago, it appeared that gold would indeed go below 1240, and now we see some retracement. What has changed fundamentally over the last week? Some geopolitical events...yes. Some backtracking by a newbie Fed chair...yes....and possibly, some potential short covering, but the facts are that the Fed will end QE, the oil will flow in the Middle East, and in 2015...interest rates are going up.

My own short term analysis suggests that gold could indeed hit 1335-1340 region, though the fundamentals are just not there (IMHO) to support a further rise...at least for now. I also think that gold market is being manipulated to sucker traders into thinking the next gold boom is here, so climb on board...and then the big players sell into the sucker bet. Just my thoughts...and yes, I have not traded this well...in too soon, and out too early...but I am looking longer term and setting my trades with the above perspective.
"The market can remain irrational longer than you can remain solvent"
  • #10,415
  • Jun 24, 2014 8:55am Jun 24, 2014 8:55am
Quoting acidguy
{quote} there are 2 possible paths for 2014. $1100 or $1400 according to Global Investment firms. in the crazy arena also there are calls for $900 (crazy banks) or $2000 (Kitco sponsored analysis)
1400 is too close while 2000 is too far, I would rather set my annual target at Jan-2015
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  • #10,416
  • Jun 24, 2014 8:57am Jun 24, 2014 8:57am
Quoting anton.olff
{quote} I would never say that "no way" gold is going to do this or that. If you look at daily, weekly and monthly charts, it appears that gold is in a range. If you recall, gold peaked up near 1390 range at the height of the Ukraine crisis a few short months ago. It then retraced more than $100. Two weeks ago, it appeared that gold would indeed go below 1240, and now we see some retracement. What has changed fundamentally over the last week? Some geopolitical events...yes. Some backtracking by a newbie Fed chair...yes....and possibly, some potential...
Why daily? weekly? or monthly? Did you ever get a chance to analyze last 30 yrs? Ever since Gold has been trading?

If you can chalk out the patterns over last 3 decades, you'll get answer to your question below:
What has changed fundamentally over the last week?
Hello World!
  • #10,417
  • Jun 24, 2014 9:02am Jun 24, 2014 9:02am
Quoting ClockTrader
{quote} 1400 is too close while 2000 is too far, I would rather set my annual target at Jan-2015
yes, i stick with $1100, we ll maybe remember last week as the 2014 crazy short lived rally, gold fundamentals for this price (demand/economic data) are damaging very fast.
  • #10,418
  • Jun 24, 2014 9:02am Jun 24, 2014 9:02am
filled short twice on first half just trailing now...
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  • #10,419
  • Jun 24, 2014 9:09am Jun 24, 2014 9:09am
Quoting ClockTrader
{quote} Why daily? weekly? or monthly? Did you ever get a chance to analyze last 30 yrs? Ever since Gold has been trading? If you can chalk out the patterns over last 3 decades, you'll get answer to your question below: What has changed fundamentally over the last week?
Maybe I'm not that smart. Please enlighten me....
"The market can remain irrational longer than you can remain solvent"
  • #10,420
  • Jun 24, 2014 9:40am Jun 24, 2014 9:40am
what you think about what is goin now?
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