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Only Gold!

  • #10,821
  • Jul 3, 2014 2:28am Jul 3, 2014 2:28am
Quoting dindang2win
So what happen to gold? bullish or bearish?
If someone could answer such questions we would be all millionaires here for me it is bullish with a correction expected by or at the time of important US news releases
  • #10,822
  • Jul 3, 2014 2:33am Jul 3, 2014 2:33am
Quoting atom3
{quote} If someone could answer such questions we would be all millionaires here for me it is bullish with a correction expected by or at the time of important US news releases
Yeah, bullish on broad level and currently undergoing correction, a much awaited correction / dip

Now the million $ question is, where is the bottom of this correction / dip? Regardless of where it is, I plan to buy today in decent numbers.
Hello World!
  • #10,823
  • Jul 3, 2014 2:34am Jul 3, 2014 2:34am
Quoting dindang2win
So what happen to gold? bullish or bearish?


this is my broker's opinion on gold.

hope that helps

Trade: Long Gold
- Gold edged higher in range-bound trade on Friday to cap a fourth straight weekly gain, as investors believe that the Federal Reserve will keep interest rates at record low levels.

- Upbeat US consumer sentiment data released on Friday failed to dispel concerns over the outlook for wider economic recovery.
- The dollar index which tracks performance of the greenback versus a basket of six other major currencies ended the week at the lowest level since May 21st. Dollar weakness usually benefits gold as it boosts the metals appeal as an alternative asset.

Risk Factors:
- Positive economic data released might shift demand from gold to equities and more risky investments. Non farm payrolls might have an adverse effect on the metal.
- Gold was supported by escalating violence in the Middle East. A ceasefire might push prices downwards.
  • #10,824
  • Jul 3, 2014 2:35am Jul 3, 2014 2:35am
Quoting atom3
{quote} If someone could answer such questions we would be all millionaires here for me it is bullish with a correction expected by or at the time of important US news releases


Exactly.
  • #10,825
  • Jul 3, 2014 3:03am Jul 3, 2014 3:03am
Correction till 1312, if broken then 1299 and finally 1288 which will be massive support that I doubt it will break it to lower.
This is what my chart shows, however everyone do their analysis
  • #10,826
  • Jul 3, 2014 3:07am Jul 3, 2014 3:07am
Quoting ClockTrader
{quote} Yeah, bullish on broad level and currently undergoing correction, a much awaited correction / dip Now the million $ question is, where is the bottom of this correction / dip? Regardless of where it is, I plan to buy today in decent numbers.
i hope to see the bottom after nfp & ecb
spike down and then up we go at least this is my scenario for now
on the other hand i must admit that i closed my shorts from 1330 at 1223 maybe i should have kept them but anyways
AUD/USD found support at 0.936
will see what happens today
good luck fellas its high time start making this millions you are talking about
  • #10,827
  • Jul 3, 2014 3:09am Jul 3, 2014 3:09am
Orders placed at 1310, initial target 138x, SL 1300
Taking the longer term view (and ignoring occasional pullbacks) I think gold could push past 1450 over the next 3 months.

I will load up once momentum is confirmed.
  • #10,828
  • Jul 3, 2014 3:15am Jul 3, 2014 3:15am
Amazing how every time gold starts to go up a bit everyone gets all excited and claims it's the start of the new bull trend long term. There's absolutely no signs of that what so ever. Gold is in a major downtrend.
  • #10,829
  • Jul 3, 2014 3:23am Jul 3, 2014 3:23am
I guess the major downtrend is broken already a week ago, adding to that the golden seasons. Why would the gold go lower to below 1181 in the next couple of months or by the end of the year. All the news are pushing to sell, so it ill go higher.
  • #10,830
  • Jul 3, 2014 3:24am Jul 3, 2014 3:24am
My view. Does not look bullish to me for now.
Attached Image (click to enlarge)
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"Where you want to be is always in control, never wishing, always trading.
  • #10,831
  • Jul 3, 2014 3:28am Jul 3, 2014 3:28am
Longer term view, same conclusion.
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"Where you want to be is always in control, never wishing, always trading.
  • #10,832
  • Jul 3, 2014 3:37am Jul 3, 2014 3:37am
It all depends on your time frame.
Looking at the Monthly and Weekly charts it's just going sideways.
The Daily isn't much better.

So far as daily price range is concerned, I'm happy to trade within a $20 envelope.
Yes, it might fall and my SL's will do thier job, but with current gold production costs at around $1190 and the fact that we're in "Gold season" my sentiment remains bullish.

Good luck, whichever way it goes
  • #10,833
  • Jul 3, 2014 3:40am Jul 3, 2014 3:40am
Quoting Spec_And
Longer term view, same conclusion. {image}
Could you explain why did you place that blue line there and what does it mean? I don't get the point
  • #10,834
  • Jul 3, 2014 3:42am Jul 3, 2014 3:42am
Quoting ClockTrader
{quote} Yeah, bullish on broad level and currently undergoing correction, a much awaited correction / dip Now the million $ question is, where is the bottom of this correction / dip? Regardless of where it is, I plan to buy today in decent numbers.
in my view point correction till 1315 (current week's pivot) or max 1306 (current week's resistance) on nfp then season resumes inshAllah!
P.S. Trade with the discipline of Money Management and Risk Management.
  • #10,835
  • Jul 3, 2014 3:46am Jul 3, 2014 3:46am
This is a excerpted message from Christine LaGarde, to the National Press Club, January 15, 2014. Perhaps others already knew about it. Others may not go along with the editorial comments. However, here it is. This is July, after all!

Inserted Video
  • #10,836
  • Jul 3, 2014 3:47am Jul 3, 2014 3:47am
Quoting waleed.khan
{quote} Your green box (1312 range) is exacly...the start of my 5th impulse waves 3rd leg up... Now hopefully price does not drop below 1321(the top of the 5th waves first leg); if it does then the start of the 5th impulse wave was false and done all wrong... I have shifted my sl tps to 1319 now... if we have candle closes above 1330 on the 1 hr chart; I will look to add more longs! Happy Trading

1321 is now very crucial support area for this corrective wave & should mark the end of the C wave... If it falls below this level then the EW was false...and the Ew will have to be redrawn to 1285 area being last support for ew to be valid....

But nonetheless volumes and supportive pinbars should be noticed on this level (especially on the 1 hr and 4 hr charts)...
  • #10,837
  • Edited 6:23am Jul 3, 2014 4:12am | Edited 6:23am
Quoting Spec_And
Longer term view, same conclusion. {image}

Yes this chart is a cause for concern... so far price has been unable to close above 1330; this is why this 1321 battle for the upside will be very important if it fails to take 1330 out (and by that I mean a candle close on the larger time frames) then I am afraid price will go down to (max) 1285 level again..
  • #10,838
  • Jul 3, 2014 5:36am Jul 3, 2014 5:36am
Quoting kinspk
My personal views. (A) Monthly: From the present PA, I will assume (1) being bottom out, while (2) had done its retracement, due for bull while matching the Gold seasons. I am looking for at least June and July closing Bull candles, testing the previous monthly high. (B) Weekly: I am anticipating the PA to test the previous weekly high at around 132X to 133X, if break, to further test upper trend line before another retracement. (C) Daily: Daily PA had made a clear break of the bearish channel, 1330 seems to be the first resistance to break thru....
Maybe 2 hours later, we may see some actions as to where it wants to go. As 1320 still hold it firmly with a quick bounce off, and 1330 doesn't look that strong to hold, there's a possibility to see north. Let's wait...
The only winner is the one who survive the longest...
  • #10,839
  • Jul 3, 2014 5:52am Jul 3, 2014 5:52am
Quoting bonnzi
{quote} i hope to see the bottom after nfp & ecb spike down and then up we go at least this is my scenario for now
I like your view mate as my technicals are in line with your view. I'm all set for action, lets see how it goes.
Hello World!
  • #10,840
  • Jul 3, 2014 5:59am Jul 3, 2014 5:59am
Quoting ClockTrader
{quote} REPEAT: If I go by my VSA analysis, I should be patient and buy somewhere between 1305 and 1321, BUT, since Gold has been very bullish lately, I would suggest investors to buy in a broad range: 1305 - 1325
REPEAT:

If I go by my VSA analysis, I should be patient and buy somewhere between 1305 and 1321, BUT, since Gold has been very bullish lately, I would suggest investors to buy in a broad range: 1305 - 1325

I'm going to focus on the bold line above provided smart VSA supports.
Hello World!
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