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  • #13,121
  • Aug 2, 2014 9:15am Aug 2, 2014 9:15am
Gold for next week......
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  • #13,122
  • Aug 2, 2014 10:46am Aug 2, 2014 10:46am
Quoting amir558
Gold for next week...... {image}
Amir plz tell us the numbers on your chart?
don't use camera for taking image just use prntscr on keybord
  • #13,123
  • Aug 3, 2014 2:56am Aug 3, 2014 2:56am
a short trade i took on silver last week and closed.

Gold/Silver Sitting on super support. next week break on bound well we shall see ...

trade safe
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trade safe
  • #13,124
  • Aug 3, 2014 8:10am Aug 3, 2014 8:10am
The Dutch news talks about Israel withdrawing most of it's troops out of Gaza. The operation is not yet officially stopped, but it can be the beginning of the end of the operation.

This news indicates more stability in the region which reduces the pressure on the need of a higher gold price.
  • #13,125
  • Aug 3, 2014 10:59am Aug 3, 2014 10:59am
Quoting frietzak
The Dutch news talks about Israel withdrawing most of it's troops out of Gaza. The operation is not yet officially stopped, but it can be the beginning of the end of the operation. This news indicates more stability in the region which reduces the pressure on the need of a higher gold price.
Imo the USD has been the stronger safe haven of late so it could possibly be the opposite if this were the case.
As the lights go by so too do the shadows move
  • #13,126
  • Aug 3, 2014 2:20pm Aug 3, 2014 2:20pm
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as far as I know from Abonacci trading system gold should go below 1240.04
today is the first day of august, thus a new baseline for this system is required but based on the last month template we have a downward trend in XAUUSD.
however a short term long position is not unexpected yet.
  • #13,127
  • Aug 3, 2014 2:36pm Aug 3, 2014 2:36pm
Quoting amir558
Gold for next week...... {image}
excellent analysis
what's your SL and TP if I may ask
  • #13,128
  • Aug 3, 2014 4:46pm Aug 3, 2014 4:46pm
Gold rose nearly 1 percent on Friday, snapping a four-day losing streak, as disappointing U.S. non-farm payrolls data dampened talk of an early interest rate rise by the Federal Reserve and increased bullion's appeal as a hedge.
  • #13,129
  • Aug 3, 2014 4:46pm Aug 3, 2014 4:46pm
Demand for physical gold in Asia failed to pick up in a robust way despite the price drop on Thursday, a dealer in Hong Kong said. Metals consultancy GFMS, a division of Thomson Reuters, warned on Thursday that buying in the main physical gold markets of China and India may not be strong enough to provide a floor for prices this year. Meanwhile, sales of American Eagle gold coins by the U.S. Mint dropped about 40 percent in July from a year earlier.
  • #13,130
  • Aug 3, 2014 4:49pm Aug 3, 2014 4:49pm
Quoting bewayopa
Gold rose nearly 1 percent on Friday, snapping a four-day losing streak, as disappointing U.S. non-farm payrolls data dampened talk of an early interest rate rise by the Federal Reserve and increased bullion's appeal as a hedge.

Credit for this analysis belongs with the article writer....

http://af.reuters.com/article/metals...0Q72W820140801
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,131
  • Aug 3, 2014 4:50pm Aug 3, 2014 4:50pm
Quoting bewayopa
Demand for physical gold in Asia failed to pick up in a robust way despite the price drop on Thursday, a dealer in Hong Kong said. Metals consultancy GFMS, a division of Thomson Reuters, warned on Thursday that buying in the main physical gold markets of China and India may not be strong enough to provide a floor for prices this year. Meanwhile, sales of American Eagle gold coins by the U.S. Mint dropped about 40 percent in July from a year earlier.

And credit for this analysis belongs with the article write....

http://articles.economictimes.indiat...dges-hong-kong
Doing what you like is Freedom. Liking what you do is Happiness.
  • #13,132
  • Aug 3, 2014 5:14pm Aug 3, 2014 5:14pm
Gold right now 1293.35,just bought one lot,buying a lot every 50 cent down my stop 1291.5 target 1297,low can be 1293
  • #13,133
  • Aug 3, 2014 5:18pm Aug 3, 2014 5:18pm
The price went below 1293.11,i dont expect the middle on the 4hr chart to go below it meaning 1292.13 is the max down
  • #13,134
  • Aug 3, 2014 5:48pm Aug 3, 2014 5:48pm
Demand for physical gold in Asia failed to pick up in a robust way despite the price drop on Thursday, a dealer in Hong Kong said. Metals consultancy GFMS, a division of Thomson Reuters, warned on Thursday that buying in the main physical gold markets of China and India may not be strong enough to provide a floor for prices this year. Meanwhile, sales of American Eagle gold coins by the U.S. Mint dropped about 40 percent in July from a year earlier.
  • #13,135
  • Aug 3, 2014 5:49pm Aug 3, 2014 5:49pm
Gold rose nearly 1 percent on Friday, snapping a four-day losing streak, as disappointing U.S. non-farm payrolls data dampened talk of an early interest rate rise by the Federal Reserve and increased bullion's appeal as a hedge
  • #13,136
  • Aug 3, 2014 6:48pm Aug 3, 2014 6:48pm
Quoting tablet8
{image} as far as I know from Abonacci trading system gold should go below 1240.04 today is the first day of august, thus a new baseline for this system is required but based on the last month template we have a downward trend in XAUUSD. however a short term long position is not unexpected yet.
If i put a trend line on the last bottom and with a higher low make 1260.
Let the GOLD time Roll
  • #13,137
  • Aug 3, 2014 7:51pm Aug 3, 2014 7:51pm
Just opened 2 shorts @ 1292 with SL @ 1306, if these get stopped I would be sacrificing part profit made from shorts last week.. had closed one short in low 1280ish and 2 shorts @ 1291

Might open 2-4 more shorts later, don't mind sacrificing all the profit from shorts (last week) as long as it keeps climbing.

Over all I am gung ho about longs, but, would like to play safe and slow as there may be hiccups today / tomorrow

39 longs
4 shorts

PS: About a month back there were like a dozen fellas here who disliked hedging for its ineffective usage, I hope my actions as of late explain how hedging can be used as a nice effective Green Tool.
Hello World!
  • #13,138
  • Aug 3, 2014 8:00pm Aug 3, 2014 8:00pm
Quoting ClockTrader
Just opened 2 shorts @ 1292 with SL @ 1306, if these get stopped I would be sacrificing part profit made from shorts last week.. had closed one short in low 1280ish and 2 shorts @ 1291 Might open 2-4 more shorts later, don't mind sacrificing all the profit from shorts (last week) as long as it keeps climbing. Over all I am gung ho about longs, but, would like to play safe and slow as there may be hiccups today / tomorrow 39 longs 4 shorts PS: About a month back there were like a dozen fellas here who disliked hedging for its ineffective usage, I...
Surely hedging is best used for shorter movements against your positions

ie: if you thought the price was headed to 1100 theen you would close the longs and go short but as you see it the trend is up and probably won't drop bellow 1240.

I personally think we will start to get a healthy correction north beginning of september and hopefully can hold the gains over 1400 this time.

Have a good week.
Que Sera
  • #13,139
  • Aug 3, 2014 8:05pm Aug 3, 2014 8:05pm
The big solid thick resistance that would change the direction of gold on daily basis is 1302.88,clear break of it +3.5 dollers,1306.5 bid price .....right there im having full equity long...target $50 an once,unless break the 4hr down i WILL be sHort,but the main target will evetnually be achieved
  • #13,140
  • Aug 3, 2014 8:54pm Aug 3, 2014 8:54pm
Well, friday proved that even letting my discipline slip slightly has missed me an opportunity at a quick buck.

The longs I opened friday night hit my TP of 20.5, but I was too eager to see if we would get higher as gold was holding strong, however silver got slapped back down and that resulted in handing back the small profit I had unrealised.

This is a lesson well learnt and thought I would share that experience with the group, as it is the first time I have lacked the discipline and gone against my system in 12months, and it showed me why I need to remain focused.

Back in the green today either way, hopefull of a retest of the 20.5 as long as 1290 holds in gold

Mitch
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