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  • #15,741
  • Sep 8, 2014 10:02am Sep 8, 2014 10:02am
The criminals aren't done slaughtering I guess.
  • #15,742
  • Sep 8, 2014 10:18am Sep 8, 2014 10:18am
I guess its time for a small bounce north around 1239
Every cent earned is one step closer to independence
  • #15,743
  • Sep 8, 2014 10:48am Sep 8, 2014 10:48am
Got a small long booked at 1258. Going to delay adding to them until I see whether 1250 is breached if so I'll add another small at 1240 ish
  • #15,744
  • Sep 8, 2014 10:49am Sep 8, 2014 10:49am
On a broad level, my view remains bearish! I have 14 longs active, kind of pain. IF I can catch a top, to hedge at least half of these, that would be great, but looks like I've been too lethargy to do that lately.
Hello World!
  • #15,745
  • Sep 8, 2014 10:50am Sep 8, 2014 10:50am
It's an interesting move today. With ECB cutting rates, bad figures out of the US and the Russian rebels breaking the cease fire in Ukraine I would of thought there might of been some topside activity. Perhaps it's to do with lack of demand from China... just guessing though.
As the lights go by so too do the shadows move
  • #15,746
  • Sep 8, 2014 10:52am Sep 8, 2014 10:52am
The russian soldiers -massive atack to Marjuopol - CNN reporter two minutes ago!!!!gold go up a short time
  • #15,747
  • Sep 8, 2014 10:57am Sep 8, 2014 10:57am
Quoting mijoal
The russian soldiers -massive atack to Marjuopol - CNN reporter two minutes ago!!!!gold go up a short time
Normally would spike before CNN reports it if news worthy imo.
As the lights go by so too do the shadows move
  • #15,748
  • Sep 8, 2014 11:12am Sep 8, 2014 11:12am
Quoting mijoal
The russian soldiers -massive atack to Marjuopol - CNN reporter two minutes ago!!!!gold go up a short time
can you please post some news abouth this,because i didn't find anything abouth that
  • #15,749
  • Sep 8, 2014 11:16am Sep 8, 2014 11:16am
does anybody know current mining cost of gold? i don't think it can sustain below mining cost for long and should turn back bullish..
P.S. Trade with the discipline of Money Management and Risk Management.
  • #15,750
  • Sep 8, 2014 11:22am Sep 8, 2014 11:22am
Quoting farukh
does anybody know current mining cost of gold? i don't think it can sustain below mining cost for long and should turn back bullish..
1257 the number to cross first? anyone agree?
  • #15,751
  • Sep 8, 2014 11:37am Sep 8, 2014 11:37am
Quoting farukh
does anybody know current mining cost of gold? i don't think it can sustain below mining cost for long and should turn back bullish..


This is what happens to smaller companies with the fall of demand. The larger producers scale back their operations but generally will stay in production.

http://www.focusminerals.com.au/news/strategic-update/

Unfortunately there needs to be a market for a commodity for price to rise. Australia, as many other countries, were a major supplier of China's growth period during recent years but it appears that growth is slowing.
As the lights go by so too do the shadows move
  • #15,752
  • Sep 8, 2014 12:24pm Sep 8, 2014 12:24pm
Quoting ClockTrader
{quote} My view and analysis are based on seasons and similar cycles. I strongly think its not going way down to 1150, but, like a wise trader, I'm prepared if it does so. Secondly, bears don't have forever to dominate bulls. The bulls shall be back soon and I expect the price to fly through 1420-25 levels by mid or end of December.
So do you recommend start buying small at dips from now ?
  • #15,753
  • Sep 8, 2014 5:00pm Sep 8, 2014 5:00pm
Quoting Spec_And
{quote} Your SL is probably too tight, this is typical down trend price action, lower highs and lower lows, no fake outs so far.
My trade on silver also hit stop loss at 18.9 exactly below previous low, and bounce here.
  • #15,754
  • Edited 6:52pm Sep 8, 2014 6:37pm | Edited 6:52pm
Sellers need to be cautious... Potential down further some more and then rebound.
(4H)
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Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #15,755
  • Sep 8, 2014 7:48pm Sep 8, 2014 7:48pm
Quoting farukh
does anybody know current mining cost of gold? i don't think it can sustain below mining cost for long and should turn back bullish..
if noone buying... how can it turn bullish? even major bank is pulling out of future gold trade.

http://www.mineweb.com/mineweb/conte...2461&sn=Detail
  • #15,756
  • Sep 8, 2014 10:15pm Sep 8, 2014 10:15pm
Dollar index is exploding higher, things are going to turn very ugly for gold bulls if it breaks above 84.7.
"Where you want to be is always in control, never wishing, always trading.
  • #15,757
  • Sep 8, 2014 10:18pm Sep 8, 2014 10:18pm
Quoting nicefirework
{quote} My trade on silver also hit stop loss at 18.9 exactly below previous low, and bounce here.
Your stops are far too tight, try setting a wider stop and trade the trend.
"Where you want to be is always in control, never wishing, always trading.
  • #15,758
  • Sep 8, 2014 11:51pm Sep 8, 2014 11:51pm
Quoting Mr.Kane
{quote} So do you recommend start buying small at dips from now ?
No. I would suggest, let this bottom out first.
Hello World!
  • #15,759
  • Sep 9, 2014 2:13am Sep 9, 2014 2:13am
Quoting Matts Micro
{quote} I am looking for a break on the hrly (L.Blue) TL and then for a pullback to be supported before a further move up to confirm the H&S pattern for a BO topside from the 4hr (brown) falling wedge upper TL. Though the daily (L.Brown) TL maybe strong resistance and will be watching closely. {image}
Yesterdays move is beginning to look like a FO from the bottom of the 4hr wedge which is common before the real move. However it was a strong move yesterday, supported by other pairs and there is a bit of support that became resistance to break back through. I have 1256-1258 congested with a few M-LT TL's that should provide a direction indication from this region imo.
As the lights go by so too do the shadows move
  • #15,760
  • Edited 3:03am Sep 9, 2014 2:37am | Edited 3:03am
I am short gold at 1257!

Targeting 1.247
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