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Only Gold!

  • #11,661
  • Jul 16, 2014 4:25am Jul 16, 2014 4:25am
Quoting gold1234
{quote} Any break above 1308 will give strength to gold to maintain its north direction rally
The problem is we're far away from 1308 at this moment
  • #11,662
  • Jul 16, 2014 4:26am Jul 16, 2014 4:26am
Quoting waleed.khan
2nd Possibility... {image}
I'm bull for this one, dude. Let's heading north, 1st target is to reach 1309-11
Keep calm and go GREEN...
  • #11,663
  • Jul 16, 2014 4:28am Jul 16, 2014 4:28am
My view based on 1280 holding out.

Technically there should be a retracement to 1311-1315 zone. A bit of a short term risk trade but will pay off if plays out based on golds technical structure.
Attached Image (click to enlarge)
Click to Enlarge Name: Gold 4HR.png Size: 94 KB
To live a successful life, we must lose our fear of being wrong
  • #11,664
  • Jul 16, 2014 4:29am Jul 16, 2014 4:29am
Quoting MikiFX
{quote} The problem is we're far away from 1308 at this moment
We are also already 6 dollars away from the low and 10 from 1308 so not that far away if you ask me.
  • #11,665
  • Jul 16, 2014 4:34am Jul 16, 2014 4:34am
I am out till after Yellen speaks again, I know she will not say anything new, but whenever she speaks market will go Cuco ..
  • #11,666
  • Jul 16, 2014 4:34am Jul 16, 2014 4:34am
I think gold will continue falling because of Yellen, mark my words on this
"The Market is Not Evil, it Simply Separates Dumb People From Their Money."
  • #11,667
  • Jul 16, 2014 4:55am Jul 16, 2014 4:55am
Quoting taciho
{quote} hi, do you think a retrace to 1311 is possible for now?
IF it doesn't fall below 1277 a neat bounce is what I'm expecting.
Hello World!
  • #11,668
  • Jul 16, 2014 4:58am Jul 16, 2014 4:58am
Quoting Panco
I think gold will continue falling because of Yellen, mark my words on this
Chances are there it could be other way round gold will resume to north with yellen speech ... As i feel dumping of huge quantity should be over and some bargain buying should start from here ... as 1298 is 50 5 fibo level of this rally .. let us hope it will hold this level till yellen speech
  • #11,669
  • Jul 16, 2014 6:26am Jul 16, 2014 6:26am
Here are DCB values for today.
Attached Image
Hello World!
  • #11,670
  • Jul 16, 2014 7:12am Jul 16, 2014 7:12am
Short taken again...

Sl above 1300

Very light entry; not risking much.. (hopefully this a leg has more room for the downside)
  • #11,671
  • Jul 16, 2014 7:59am Jul 16, 2014 7:59am
I thought the PPI m/m was supposed to be high impact news. It was good news for the dollar and yet both gold and cable have appreciated! The market is simply not readable these days. It is so annoying. The market is becoming one giant pick-pocket! The original Oliver's Fagan!
  • #11,672
  • Jul 16, 2014 8:08am Jul 16, 2014 8:08am
For my friends antonius & julius keep the spirit, do not give up .. gold will rise again!
  • #11,673
  • Jul 16, 2014 8:12am Jul 16, 2014 8:12am
Quoting Steve J
I thought the PPI m/m was supposed to be high impact news. It was good news for the dollar and yet both gold and cable have appreciated! The market is simply not readable these days. It is so annoying. The market is becoming one giant pick-pocket! The original Oliver's Fagan!
You can blame it on HFT...

Short term traders have to compete with super quick complicated algorthym that incorporate methods like game theory to execute trade ideas...

This is perhaps likened to a computer grandmaster chess player... what is the possibility that us mortals will win?
  • #11,674
  • Jul 16, 2014 8:13am Jul 16, 2014 8:13am
Quoting Steve J
I thought the PPI m/m was supposed to be high impact news. It was good news for the dollar and yet both gold and cable have appreciated! The market is simply not readable these days. It is so annoying. The market is becoming one giant pick-pocket! The original Oliver's Fagan!
It's not just PPI, but NFP has not had the type of immediate impact or effect as it had in the past.
"The market can remain irrational longer than you can remain solvent"
  • #11,675
  • Jul 16, 2014 8:18am Jul 16, 2014 8:18am
Quoting anton.olff
{quote} It's not just PPI, but NFP has not had the type of immediate impact or effect as it had in the past.

According to Yellens "forward guidance" NFP is not the only gauge they are seeing... (but that could be a reason why it is not responding as much as yellens immediate will of keeping interest rates low "for as long as neccessary")

I know this is absurd but somehow Yellen is taking "lack of stock volatility" as a major economic concern... Seems like economics is being redefined over here... and it just goes to show how the government (and those who get them elected) have a vested interest to keep stocks up ( or rather) controlled!

To put it simply when Yellen knows what is going to happen next... The big gun's can easily profit by going in that direction and minimize their risks!
  • #11,676
  • Jul 16, 2014 8:27am Jul 16, 2014 8:27am
My intraday outlook for the coming days based on $1292 not being broken and breaking out of $1301.

Technically from $1301-1311s $10 range we have tested the 23.6 retracement which has been respected, 50% has been broken and respected as support and currently retesting the 61.8.

76.4 lays at $1301 which is also a resistance level on previous PA.

The next price on the upside would be $1311 (1.618) to $1324 (2.618).
Attached Image (click to enlarge)
Click to Enlarge Name: Gold 1.png Size: 136 KB
To live a successful life, we must lose our fear of being wrong
  • #11,677
  • Jul 16, 2014 8:33am Jul 16, 2014 8:33am
expect bounce from 1297 to tp. 1320 -50% fibo
going long with small lot..
Investing is SIMPLE but NOT EASY
  • #11,678
  • Jul 16, 2014 8:51am Jul 16, 2014 8:51am
Quoting ClockTrader
Here are DCB values for today. {image}
Added a long, moved SL to 1291 for positions in 129x range

19 effective longs
Hello World!
  • #11,679
  • Jul 16, 2014 8:57am Jul 16, 2014 8:57am
Quoting ClockTrader
{quote} Added a long, moved SL to 1291 for positions in 129x range 19 effective longs
You don't know how much I am challenged by your method of trade management.. Love it totally! Wonderful stuff!
  • #11,680
  • Jul 16, 2014 9:34am Jul 16, 2014 9:34am
Currently shorting Gold. SL at 1306.
I'm hoping Janet Yellen would implement more aggressive stance for the 3rd quarter
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