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  • #14,541
  • Aug 15, 2014 2:54pm Aug 15, 2014 2:54pm
Quoting diegobeyer
Fellas, I am off to the weekend. leaving behind five silver longs and one gold long duly, all duly protected as per my MM rules. best wishes to all. p.s. some guy said Russia would invade Ukraine. if not last sunday, this sunday. let´s see if he knew what he was talking about.

Yeah It was Anton!

I think he is off the idea though...?

Did ask him what he thought now but he hasn't yet replied.
  • #14,542
  • Aug 15, 2014 3:12pm Aug 15, 2014 3:12pm
Quoting waleed.khan
{quote} no clue... it could go all the way back down to that pinbar too... or worse break it! As I said before this is right now the C leg of the zigzag (which really should take it well below the 1295 level) but given the circumstances and the probable "buying support area/pressure" it should end up being truncated.. A close above 1307-08 now would mean that the correction is over... and the bullish impulse wave is about to start! *The truncation* could eventually turn out to be consolidation triangle too... which I certainly don't mind!...

was a good day to me, and for all of you?
OK,who read my previous report on gold about 7:30 in morning Europe time.
hope it help because did work for me ,up+down+up,
so now i want to ask for some info wend will be next realize of interest rates, cause here is the answer to the question..
Gold:

The precious metal has benefitted from woes in the Ukraine and the crises in the Middle East. But according to IG, gold seems to be “stranded around the $1,312 mark.”

IG’s Brenda Kelly said in a note: “One hope for gold bugs would be a situation in the US similar to that in the UK, where the central bank finds itself unwilling to raise rates thanks to an uneven recovery in the economy. If rates don't rise as fast as expected then gold could once again find itself a favoured destination for money driven from US Treasuries. All this lies in the future, however, and so for now gold is condemned to languish around current levels.”
all times learnning
  • #14,543
  • Aug 15, 2014 3:24pm Aug 15, 2014 3:24pm
Quoting verdisol
{quote} was a good day to me, and for all of you? OK,who read my previous report on gold about 7:30 in morning Europe time. hope it help because did work for me ,up+down+up, so now i want to ask for some info wend will be next realize of interest rates, cause here is the answer to the question.. Gold: The precious metal has benefitted from woes in the Ukraine and the crises in the Middle East. But according to IG, gold seems to be “stranded around the $1,312 mark.” IG’s Brenda Kelly said in a note: “One hope for gold bugs would...
Awesome that you made money!

As for your question I really don't think the interest rate debate is as pressing a concern as geopolitical tensions...

The market has only been moving to them and discounting all economic and fundamental news...

However this is what I think of the interest rate debate: http://www.forexfactory.com/showthre...23#post7678223 . I agree with Brenda's first hope/rationale!

Have a good weekend!
  • #14,544
  • Aug 15, 2014 3:52pm Aug 15, 2014 3:52pm
Why would RT publish this today out of all days?

http://rt.com/business/180588-russia-central-bank-gold/

hmm.. Okay (i'm off has been "edge of the seat" kind of day!

have a nice one everyone...
  • #14,545
  • Edited 4:55pm Aug 15, 2014 4:14pm | Edited 4:55pm
Quoting pat.van
{quote} Hello, I am a new member. Have been reading the posts for quite some time and stunning by how much knowledge is all around and got shared here. Waleed, I find many of your posts are quite resourceful and very analytical, thanks for sharing it to the public space. I learn so much. Just wondering how you count the wave as stated "double Abc flat and last wave was a zigzag; which might see its 5th down leg..." I am a newbie here but I also compared my H4 and D1 wave counting to your previous posts on them and they are pretty similar. But I...

Hey sorry I just saw your post - Thanks for the kind words and welcome to ff!

As far as the wave count is concerned...to be honest complex corrective waves are very very difficult to identify (and you can account for them in many ways)... and there really isn't much info on it too... I picked up on it after watching a very old course video by Prechter...even there it was vaguely explained.

But to summarize you just keep counting abc; seperated by an x wave... Flats are usually 3,3,5 corrections...the first c obviously missed and hence there was a second attempt (usually the reason why all doubles and triples exist)... So eventually the 5 wave came in the form of a c which dragged price down...(note the 5 wave structure from the top and the resulting alternation and the 3rd wave spike down....

Does that make any sense? I kind of got lost in explaining it myself...

but here I'll just post a quick illustration for you...

please bear in mind there are many ways to account for this and there are still no guarantees... For the longest time I had that as a triangle; only got confirmation after the breakdown... As long as the 61.8 retracement level and the first impulse not taken out is what really matters....

https://www.tradingview.com/x/1IfnFvpy/
  • #14,546
  • Aug 15, 2014 4:20pm Aug 15, 2014 4:20pm
Quoting diegobeyer
Fellas, I am off to the weekend. leaving behind five silver longs and one gold long duly, all duly protected as per my MM rules. best wishes to all. p.s. some guy said Russia would invade Ukraine. if not last sunday, this sunday. let´s see if he knew what he was talking about.
We will see. I certainly hope that Putin does not order the invasion, but having lived, worked and having many connections to both Russia and Ukraine, I know that people there often "cut their noses off to spite their faces." Hoping for the best, but still long gold (and short the S&P).
"The market can remain irrational longer than you can remain solvent"
  • #14,547
  • Aug 15, 2014 10:15pm Aug 15, 2014 10:15pm
Quoting Matts Micro
Put it this way. Anyone who thinks their government is on the side of the angels really needs their read imo.
Anyone who thinks their government is actually their government needs a lot of something they'll probably never get

Governments are all run by the same mob. It's all a show 4 us little folks.

But that's something I won't go into further on here
  • #14,548
  • Edited Aug 16, 2014 1:23am Aug 15, 2014 10:16pm | Edited Aug 16, 2014 1:23am
Gold can revisit 1500 level, we know it's going to go back up there at some point and 100% will, but maybe this is the run for it?

Silver can also do the same with 26.15.. again it's a matter of time before it does.. but maybe we'll start that move now!

Extreme levels of course…. We'll see … These levels are possible in the next 3-6 months Imo.
  • #14,549
  • Aug 15, 2014 10:46pm Aug 15, 2014 10:46pm
Quoting waleed.khan
{quote} Hey sorry I just saw your post - Thanks for the kind words and welcome to ff! As far as the wave count is concerned...to be honest complex corrective waves are very very difficult to identify (and you can account for them in many ways)... and there really isn't much info on it too... I picked up on it after watching a very old course video by Prechter...even there it was vaguely explained. But to summarize you just keep counting abc; seperated by an x wave... Flats are usually 3,3,5 corrections...the first c obviously missed and hence...
Very interesting indeed, quite a bit of imagination is used here to come up with the corrective wave counts I guess Brilliant, it is always good to know your terrain. Admittedly, I was thinking it would be triangle corrective wave as well and got quite confused when the price broke the diagonal trend line without completing the "e" leg of triangle. After that I was lost...lol. But thanks for your explanation, does make a lot of sense!
  • #14,550
  • Aug 16, 2014 1:22am Aug 16, 2014 1:22am
Minimum target of 1327.55 for gold this week coming up.

Silver likely to bottom around 19.468, if it hasn't already. And can lift off hardcore, taking it above $21 toward around 21.30 level.

Based on my own technical work…. which could be utter trash for all I know
  • #14,551
  • Aug 16, 2014 2:25am Aug 16, 2014 2:25am
Quoting Ck87
Minimum target of 1327.55 for gold this week coming up. Silver likely to bottom around 19.468, if it hasn't already. And can lift off hardcore, taking it above $21 toward around 21.30 level. Based on my own technical work…. which could be utter trash for all I know
Hasn't actually been trash so far. You made good calls last week
A 1 pip gain is better than a 1 pip loss.
  • #14,552
  • Aug 16, 2014 4:49am Aug 16, 2014 4:49am
Quoting aeternum
{quote} Hasn't actually been trash so far. You made good calls last week
Even a broken clock is right twice a day...


Just stumbled upon this little coincidence here.. hehe
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2014-08-16 at 3.48.13 AM.png Size: 86 KB
  • #14,553
  • Aug 16, 2014 12:05pm Aug 16, 2014 12:05pm
may i ask the two lines that you draw and intersect, what does that tell you? thanks in advance...

Quoting Ck87
{quote} Even a broken clock is right twice a day... Just stumbled upon this little coincidence here.. hehe {image}
  • #14,554
  • Aug 16, 2014 12:24pm Aug 16, 2014 12:24pm
Quoting waleed.khan
Why would RT publish this today out of all days? http://rt.com/business/180588-russia-central-bank-gold/ hmm.. Okay (i'm off has been "edge of the seat" kind of day! have a nice one everyone...
http://www.silverdoctors.com/currenc...-gold-in-june/
  • #14,555
  • Aug 16, 2014 1:35pm Aug 16, 2014 1:35pm
Quoting bonnzi
{quote} http://www.silverdoctors.com/currenc...-gold-in-june/

Something is brewing... Remember Russia even signed that Gas supply deal with China... after I don't know how many years of negotiations...
  • #14,556
  • Aug 16, 2014 1:43pm Aug 16, 2014 1:43pm
Quoting bluetoss
may i ask the two lines that you draw and intersect, what does that tell you? thanks in advance... {quote}

Main focus is the bottom TL … the upper one is just to show a break out can be coming soon.. Intersection not important.
  • #14,557
  • Aug 16, 2014 2:22pm Aug 16, 2014 2:22pm
Quoting Ck87
{quote} Even a broken clock is right twice a day... Just stumbled upon this little coincidence here.. hehe {image}
I must say this is very Nice call, btw what's your TP?

Yudi
  • #14,558
  • Aug 16, 2014 2:30pm Aug 16, 2014 2:30pm
Quoting Yudi1354
{quote} I must say this is very Nice call, btw what's your TP? Yudi

First level of resistance should be around 21.30, ultimately much higher though.
  • #14,559
  • Aug 16, 2014 6:51pm Aug 16, 2014 6:51pm
thanks for the info..

Quoting Ck87
{quote} Main focus is the bottom TL … the upper one is just to show a break out can be coming soon.. Intersection not important.
  • #14,560
  • Aug 17, 2014 4:03pm Aug 17, 2014 4:03pm
Good morning Traders have A very Good day
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