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  • #13,441
  • Aug 6, 2014 4:03am Aug 6, 2014 4:03am
Quoting wafiqsalameh
seeing the price having diffulties staying under 1290.2

ooopps...sorry ct i forgot ...no one likes my talking too much like that
  • #13,442
  • Aug 6, 2014 4:45am Aug 6, 2014 4:45am
i dont get this

With all the indices being red except for the us dollar index what are we observing?
Strong dollar => negative for gold but on the other hand this equity dumping should be positive right?
  • #13,443
  • Aug 6, 2014 5:10am Aug 6, 2014 5:10am
I think gold will break the triangle to the downside
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  • #13,444
  • Aug 6, 2014 5:11am Aug 6, 2014 5:11am
An uptrend is already started from support level 1288, which will be followed by moving up to resistance level 1293 and then to 1300.

I'm up at 1289 with tp 1299 .
  • #13,445
  • Aug 6, 2014 5:16am Aug 6, 2014 5:16am
Gold seems to be retesting the broken demand zone. IMHO it's pretty much headed towards the next demand zone. The green rectangle.

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  • #13,446
  • Aug 6, 2014 5:25am Aug 6, 2014 5:25am
Just fired 4 shots with SL @ 1296

I hope this gets hit & if this gets hit, hope price flies higher..

Worst Scenario for me:
This hits 1279 and 1281 (blows my longs) flies high thereafter, least likely

Scenario I don't mind:
This falls way below 1280, so that I can re-open my longs in the lower area, again least likely.

Possible Scenario as per my analysis:
This flies high today in the US session while staying away from 1280
Hello World!
  • #13,447
  • Aug 6, 2014 5:25am Aug 6, 2014 5:25am
Quoting bonnzi
i dont get this With all the indices being red except for the us dollar index what are we observing? Strong dollar => negative for gold but on the other hand this equity dumping should be positive right?
Yes...but rationality often escapes the markets

The way I am seeing this is:

From a technical perspective yesterdays spike up was just designed to take the weak shorts out of the market... Right now price is channeling in between Fib values... As of this minute price is on the 50% Fib line (could swing both ways); but then if you look at the bearish shooting star on the 1 hrly from yesterday; you will notice that price has retraced only 61.8% of that (hence potential downside)... So I guess it is fair to say technically we are stalemated; with a slight bias to the downside (because volumes are missing; plus bearish candles are longer and close with more intensity. Also the market structure has not so far been broken (lower lows, lower highs)

From a fundamental perspective:

The news about russia invading ukraine has so far not progressed... The media put this headline in to justify the fall in the markets; which were already on a path of correcting on their own... So I am a bit skeptical for the time being...as to what Putin decides to do...

There are two reasons why putin would deploy troops on the border...1) for putting pressure on poroshenko again and 2) to actually invade!
I think it is the first; but then again who really knows what's going on in Putin's mind; However what give me temporary assurance is the fact that brent or wti are not rising...

Plus I happen to believe that Putin is a very calculating man...and will not do things impulsively! (but this should not really matter in ones judgement anyway)
  • #13,448
  • Aug 6, 2014 5:31am Aug 6, 2014 5:31am
doller index just hit 8177 i think its the high
  • #13,449
  • Aug 6, 2014 5:38am Aug 6, 2014 5:38am
Quoting ClockTrader
Just fired 4 shots with SL @ 1296 I hope this gets hit & if this gets hit, hope price flies higher.. Worst Scenario for me: This hits 1279 and 1281 (blows my longs) flies high thereafter, least likely Scenario I don't mind: This falls way below 1280, so that I can re-open my longs in the lower area, again least likely. Possible Scenario as per my analysis: This flies high today in the US session while staying away from 1280
so if not 1282, how low do you think it's gonna go? 1287? from looking at the charts (especially on 4hr) it still looks far too bearish for me although I do believe that the bulls are waiting for a moment to strike and that may be after data is released

by the way great thread, has taught me loads
  • #13,450
  • Aug 6, 2014 5:45am Aug 6, 2014 5:45am
Quoting ClockTrader
Just fired 4 shots with SL @ 1296 I hope this gets hit & if this gets hit, hope price flies higher.. Worst Scenario for me: This hits 1279 and 1281 (blows my longs) flies high thereafter, least likely Scenario I don't mind: This falls way below 1280, so that I can re-open my longs in the lower area, again least likely. Possible Scenario as per my analysis: This flies high today in the US session while staying away from 1280
Feels sooo good when the price is climbing and bars turn green..
I just feel like making a killing (while I'm not), lolz.. coz I am only authorized to hedge (not take profit from longs)
Hello World!
  • #13,451
  • Aug 6, 2014 5:53am Aug 6, 2014 5:53am
Quoting waleed.khan
{quote} Yes...but rationality often escapes the markets The way I am seeing this is: From a technical perspective yesterdays spike up was just designed to take the weak shorts out of the market... Right now price is channeling in between Fib values... As of this minute price is on the 50% Fib line (could swing both ways); but then if you look at the bearish shooting star on the 1 hrly from yesterday; you will notice that price has retraced only 61.8% of that (hence potential downside)... So I guess it is fair to say technically we are stalemated;...

Price is rebounding (finding support) on the opening price...
  • #13,452
  • Aug 6, 2014 5:58am Aug 6, 2014 5:58am
Quoting Landline
{quote} You cud be right.... but im of the opinion according to my assessment at least that we will see a mid nineties price during today before retracing back to 1280 or thereabouts, prob in the next day or so I think. At which point I plan to enter long when I see an appropriate candle that complies with my style of trading, to target a price of 1320 plus....we will see!
Price is hesitant at present, but pa since April tells us that the 1280 level has been a critical turning point on many occasions since then. Why fight it...let it come to us again and trade an approprate signal in that kind of range when it arrives in a day or two is my suggestion.
  • #13,453
  • Aug 6, 2014 5:59am Aug 6, 2014 5:59am
Quoting waleed.khan
{quote} Price is rebounding (finding support) on the opening price...
Yea mate, few $ up, few $ down and we remain glued to the charts..

Keep reviewing our views and analysis and they keep hitting SLs, I better take a break.... SLs in place, let exchange take care of my positions now..
Hello World!
  • #13,454
  • Aug 6, 2014 6:08am Aug 6, 2014 6:08am
Quoting Landline
{quote} Price is hesitant at present, but pa since April tells us that the 1280 level...
I agree with you on this; look at the amount of Doji's in the range of 1280-1310 on the daily chart!
  • #13,455
  • Aug 6, 2014 6:26am Aug 6, 2014 6:26am
Quoting waleed.khan
{quote} I agree with you on this; look at the amount of Doji's in the range of 1280-1310 on the daily chart!
Exactly...however having said that, price is on the verge of bursting one way or the other as we can currently see from the recent candle formation, but which way no one can be sure of yet. I suspect downside temporarily, but caution must be exersised when/if 1280 or so is reached..... because price could easily continue downwards at that point to 1240 as we have witnessed previously, thus a doji type candle at least that you mentioned, will need to be present around 1280 if price does indeed react then to the long side
  • #13,456
  • Aug 6, 2014 6:31am Aug 6, 2014 6:31am
IMO Gold is actually going down.
Why?

60% of traders via different brokers are long ,<40% are short.

thus it is most likely a good short!!!!!!
  • #13,457
  • Aug 6, 2014 6:34am Aug 6, 2014 6:34am
hello every one i just logged in
and i closed my short @ 1290 i am now flat
Senior Trader Multi-Account Manager
  • #13,458
  • Aug 6, 2014 6:36am Aug 6, 2014 6:36am
i am trying now to create this the trade explorer on a small account of 60$ so it could be monitored by everyone
Senior Trader Multi-Account Manager
  • #13,459
  • Aug 6, 2014 6:42am Aug 6, 2014 6:42am
the trade explorer is working now
Senior Trader Multi-Account Manager
  • #13,460
  • Aug 6, 2014 7:08am Aug 6, 2014 7:08am
Quoting lorix
the trade explorer is working now
Scoobi doobi doo
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