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Only Gold!

  • #10,521
  • Jun 25, 2014 9:10pm Jun 25, 2014 9:10pm
Quoting acidguy
{quote} lovely rejection at $1325, if we close below $1320 today... relax and prepare for the travel to hell at fast speed, $1300 will be slaughtered like a hot knife to butter, $1290 here we come, $1275-$1280 we can see u...
I'm tired of waiting, and yet, I have no choice but to wait, be patient for one more day.

IF it doesn't fall, I'll load longs and add to existing contracts.
Hello World!
  • #10,522
  • Jun 25, 2014 9:49pm Jun 25, 2014 9:49pm
Quoting ClockTrader
{quote} I'm tired of waiting, and yet, I have no choice but to wait, be patient for one more day. IF it doesn't fall, I'll load longs and add to existing contracts.

what resistance level are you expecting should break.. in order for you to go long again ?
  • #10,523
  • Jun 25, 2014 9:54pm Jun 25, 2014 9:54pm
Quoting ClockTrader
{quote} I'm tired of waiting, and yet, I have no choice but to wait, be patient for one more day. IF it doesn't fall, I'll load longs and add to existing contracts.
Money Makes Money
  • #10,524
  • Edited 10:08pm Jun 25, 2014 9:57pm | Edited 10:08pm
Quoting ClockTrader
{quote} I'm tired of waiting, and yet, I have no choice but to wait, be patient for one more day. IF it doesn't fall, I'll load longs and add to existing contracts.
the momentum was too extreme to the upside and were seeing PA to try retake > $1330 area but its failing, strong resistance lies between $1325 and $1330,
today we managed to close below $1320 which makes harder to consolidate above $1300 which must be now what bulls (funds which have long contracts) trying to do , now there are many country dumping gold like mine Venezuela and Asian Corporations to raise cash, the only theory which looks real for last week move is profit taking and as you know a market can be overextended for many days till it returns to the right price.

i think below $1300 acceleration to the downside must pick up as uptrend gets invalidated, maybe well $1275 again next week.

here s a video, food for thought :
http://www.kitco.com/news/video/show/For-Petes-Sake/704/2014-06-25/Gold-Market-Nervous-Needs-to-Break-$1322-To-Get-Its-Mojo-Hug
(watch how the presenter cuts the interviews when is talking very bearish gold PA, Kitco sell Gold)

gold fundamentals have not changed, in the long term yes, gold is going up, now a deep fall in price looks like the potential, $1100 looks like a reality sometime next year.
financial world is too busy now investing in other things, not yet metals like gold, think how last week $1320 looked unreachable, now look how $1220 looks unreachable.

* right now there is a Beautiful Shooting Star in D1.
  • #10,525
  • Jun 25, 2014 10:08pm Jun 25, 2014 10:08pm
Quoting ClockTrader
{quote} I'm tired of waiting, and yet, I have no choice but to wait, be patient for one more day. IF it doesn't fall, I'll load longs and add to existing contracts.
I'm only playing this short to 1308..
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Money Makes Money
  • #10,526
  • Jun 25, 2014 11:28pm Jun 25, 2014 11:28pm
Quoting haider13
{quote} what resistance level are you expecting should break.. in order for you to go long again ?
I like to quote time based levels, already stated my view on that.

As for price levels I like to follow smart VSA volatility bars, on a rough tentative note, I hope it bottoms out somewhere above 1270-80
Hello World!
  • #10,527
  • Jun 25, 2014 11:28pm Jun 25, 2014 11:28pm
Quoting KiwiOz
{quote} I'm only playing this short to 1308.. {image} {image}
I would like to see it below 1300
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  • #10,528
  • Jun 25, 2014 11:32pm Jun 25, 2014 11:32pm
There are numerous people out there who kept waiting for prices below 1000, 1100... I could say a lot on these notes, but, we all know they missed the train. I've been investing in contracts, gave a pause and will continue to do so going forward. I am committed to play seasons, seasonal patterns sustaining 30 yrs is not a joke.


Quoting acidguy
{quote} the momentum was too extreme to the upside and were seeing PA to try retake > $1330 area but its failing, strong resistance lies between $1325 and $1330, today we managed to close below $1320 which makes harder to consolidate above $1300 which must be now what bulls (funds which have long contracts) trying to do , now there are many country dumping gold like mine Venezuela and Asian Corporations to raise cash, the only theory which looks real for last week move is profit taking and as you know a market can be overextended for many days till...
Hello World!
  • #10,529
  • Jun 26, 2014 12:27am Jun 26, 2014 12:27am
Quoting ClockTrader
There are numerous people out there who kept waiting for prices below 1000, 1100... I could say a lot on these notes, but, we all know they missed the train. I've been investing in contracts, gave a pause and will continue to do so going forward. I am committed to play seasons, seasonal patterns sustaining 30 yrs is not a joke. {quote}
well, almost everyone is long now, you know what happens when this is the case.
  • #10,530
  • Jun 26, 2014 1:01am Jun 26, 2014 1:01am
can we see a new high 1340 today?
  • #10,531
  • Jun 26, 2014 1:06am Jun 26, 2014 1:06am
Quoting acidguy
{quote} well, almost everyone is long now, you know what happens when this is the case.
Yesterday, when I checked, I also stated that almost everyone seems short here. It doesn't matter what few hundred people on this thread are doing. You need inside Federal economic data (related with Forex positions) to predict where price will move, other way would be to speculate.

Quoting Ksth
can we see a new high 1340 today?
I think its going down today.
Hello World!
  • #10,532
  • Jun 26, 2014 1:37am Jun 26, 2014 1:37am
Quoting ClockTrader
{quote} Yesterday, when I checked, I also stated that almost everyone seems short here. It doesn't matter what few hundred people on this thread are doing. You need inside Federal economic data (related with Forex positions) to predict where price will move, other way would be to speculate. {quote} I think its going down today.
ok tq for the info
  • #10,533
  • Jun 26, 2014 2:06am Jun 26, 2014 2:06am
Take a look at internal data source (COMEX):

http://www.cftc.gov/marketreports/co...ders/index.htm

and now try to observe Gold data on this page:

http://www.cftc.gov/dea/futures/other_sf.htm

They share 7 day old data of COMEX only and guess what? the load on longs and shorts is almost equal. I don't know if Globex (Global Exchange) publishes Forex data like this.

If you go by my analysis, we are sitting in a casino, if buyers are making profits, the profits have to come from sellers and vice-versa. In other other words, majority had to be selling around 5th of June so that the price could shoot. As per local inputs from brokers in India, majority of people were selling due to expected Govt policies.

I only feel like alien here when I see people here saying Big buyers are in and are making the price climb, Gosh! everyone buying? and price climbing? How will the exchange pay the buyers? Out of their pockets? so they go bankrupt next day and Forex markets collapse?
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Hello World!
  • #10,534
  • Jun 26, 2014 2:13am Jun 26, 2014 2:13am
Quoting Greenstar
{quote} Jun 2014OG4M1402 Jun 2014 27 Jun 201427 Jun 2014 settlement Jul 2014OGN1426 Oct 2012 25 Jun 201425 Jun 2014 settlement This table copied from CME calendar - another gold expiration date on the 27th.
Gold Silver July options expired yesterday on 25 th june .. so let us expect good price action today
  • #10,535
  • Jun 26, 2014 2:15am Jun 26, 2014 2:15am
I had a nice short at 1324 on tue , but they hit my stop last night
before falling I expect that the price goes to 132X area again and I will short full house
  • #10,536
  • Jun 26, 2014 2:52am Jun 26, 2014 2:52am
Everything is going great for now, but keep an eye of those unemployment claims they can change the price quite dramatically i feel
  • #10,537
  • Jun 26, 2014 2:53am Jun 26, 2014 2:53am
Quoting KiwiOz
{quote} I'm only playing this short to 1308.. {image} {image}
Ding Ding... A retrace back to 1313 then lets see if there is more to come.??
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Money Makes Money
  • #10,538
  • Jun 26, 2014 3:16am Jun 26, 2014 3:16am
can we see 1294.50 today?
  • #10,539
  • Jun 26, 2014 4:54am Jun 26, 2014 4:54am
I see Scoop and Handle
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Let the GOLD time Roll
  • #10,540
  • Jun 26, 2014 6:16am Jun 26, 2014 6:16am
Correction playing out but where's the bottom...I have possible frequency support at current price...we bottom here could be quite bullish we break a little more down perhaps then up. Will be looking for intraday downsloping trendlines to be broken or pivots and a pullback at a higher low to get long.

I have secondary support at 1304.1 and yesterday's low 1305.4 and primary support lower at 1291.5

employment data in a hour or so always big for gold...might have a chance to fade a fakeout spike lower on bullish news... did I say bullish oops meant bullSh&T news. lol
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