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  • #11,081
  • Jul 8, 2014 2:50pm Jul 8, 2014 2:50pm
Is it very bold of me to think that it will tank to 1350 now?

Before the 60$ dollar rise, there was a similair dip testing the support.

Edit: Also there is a double bottom at the 1 hour chart
  • #11,082
  • Jul 8, 2014 2:57pm Jul 8, 2014 2:57pm
Quoting taciho
Is it very bold of me to think that it will tank to 1350 now? Before the 60$ dollar rise, there was a similair dip testing the support.
Enough shorts in the market now to add liquidity for a move to 1350/60
A trade should be based on an assumption based on facts
  • #11,083
  • Jul 8, 2014 2:59pm Jul 8, 2014 2:59pm
I still believe that the swing can go either way. I have more of a bullish bias for the long term and think this consolidation will be enough to continue the uptrend, but we'll see. Right now, I'm looking for a break of 1330 to go long, or a break of 1315 to go short for a longer term trade.
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O you possessed of sturdy intellect, observe the teaching that is hidden
  • #11,084
  • Jul 8, 2014 3:05pm Jul 8, 2014 3:05pm
Quoting Mave
{quote} Enough shorts in the market now to add liquidity for a move to 1350/60
Yes, indeed i think it will tank really slowly just like it's doing right now. I have seen similair moves in the past.
  • #11,085
  • Jul 8, 2014 3:09pm Jul 8, 2014 3:09pm
Quoting tbond007
{quote} Have to agree with your analysis for today, just wish I posted it earlier after the flush. I have some smaller scale (45m) bottoms in gold showing. {image}


We are above 1319 now. 5 min chart RSI is cooling after being overbought.

If the daily candle closed above 1320, this is a big bullish signal for me as 1320 is the start of the resistance cloud up to 1327 which is tough to break. Tomorrow's meeting should be the end of this dilemma even with short pullback we should be able to push higher next week to 1340 or at least break 1334.
Any pullbacks is only great to add longs. Will not scalp on shorts as bullish candles on shorter timeframes show great strength!

I maybe very wrong so everyone just do their analysis !
  • #11,086
  • Jul 8, 2014 3:14pm Jul 8, 2014 3:14pm
m going to add a short at 1960...

what you think
Quote
DNTme
  • #11,087
  • Jul 8, 2014 3:26pm Jul 8, 2014 3:26pm
Quoting taciho
{quote} Yes, indeed i think it will tank really slowly just like it's doing right now. I have seen similair moves in the past.
I dont think it'll be slow
A trade should be based on an assumption based on facts
  • #11,088
  • Jul 8, 2014 3:27pm Jul 8, 2014 3:27pm
Btw check brasil-germany , what a deception lol.
  • #11,089
  • Jul 8, 2014 3:28pm Jul 8, 2014 3:28pm
Quoting turk1
m going to add a short at 1960... what you think {quote}
Me too... even at 1531 would add a couple
  • #11,090
  • Jul 8, 2014 4:27pm Jul 8, 2014 4:27pm
Hi CT,

What is your opinion about gold? Shall we start adding more longs after Thursday meeting or better to wait till Friday? or even next week?

Thanks for the advice!
  • #11,091
  • Jul 8, 2014 4:36pm Jul 8, 2014 4:36pm
i think i'm shorting 1st oportunity i have for tomorrow.
If nothing happens tomorrow i'm adding longs till the end of august
  • #11,092
  • Jul 8, 2014 5:00pm Jul 8, 2014 5:00pm
See Chinese yuan is having news in a few hours . I know the effect that USD news has on gold. Does anyone here know if the CNY news usually has a major effect on gold ?
  • #11,093
  • Jul 8, 2014 5:07pm Jul 8, 2014 5:07pm
looks like today best area buy pending at 1313 n tp 1328.

gl guys
  • #11,094
  • Jul 8, 2014 5:09pm Jul 8, 2014 5:09pm
you just need to be patient and put big s.l on the trades because the market is ranging , the gold need to go down around 1290~ before the big movement up .
  • #11,095
  • Jul 8, 2014 5:32pm Jul 8, 2014 5:32pm
Quoting used
See Chinese yuan is having news in a few hours . I know the effect that USD news has on gold. Does anyone here know if the CNY news usually has a major effect on gold ?
No, the CNY is restricted to a trading bound against the USD so the impact will be minimal.
  • #11,096
  • Jul 8, 2014 5:40pm Jul 8, 2014 5:40pm
not true at all cny has high inpact on aud wich is correlated to gold by 85% atm +- so yeah expect some impact
  • #11,097
  • Jul 8, 2014 5:49pm Jul 8, 2014 5:49pm
Quoting Windstrown
not true at all cny has high inpact on aud wich is correlated to gold by 85% atm +- so yeah expect some impact
hmm,,i think aud is dependent on gold price, not the vice-versa. Because Australia's economy depends on its gold mines....

tell me if i wrong.
  • #11,098
  • Edited 6:26pm Jul 8, 2014 6:14pm | Edited 6:26pm
the game is build on china, but china is strong enough and the game has two sides... china has companies which are so big like international big companies, and which are not big enough for china... when the time comes that china has international big companies, not big, huge companies... for example, every car you wil see, called chin chang chong... yes chin chang chong...
  • #11,099
  • Jul 8, 2014 6:34pm Jul 8, 2014 6:34pm
just entered long position at 1318.65... with my hand on my mouse ready to close if it reverses down hard..
  • #11,100
  • Jul 8, 2014 6:51pm Jul 8, 2014 6:51pm
Quoting Monkiman
just entered long position at 1318.65... with my hand on my mouse ready to close if it reverses down hard..
m holding my short from 19.07
TP 1317
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