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  • #15,841
  • Sep 10, 2014 8:02am Sep 10, 2014 8:02am
Could be the possibility of a strong bull pullback imo on the blue falling wedge. It may FO downside before it does. Not advisable though to try to catch falling knives, easy to drop a finger or two.
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As the lights go by so too do the shadows move
  • #15,842
  • Sep 10, 2014 8:46am Sep 10, 2014 8:46am
It's going hit 1240 ! fears of Feds going to increase interest rates, until then speculation of goes away , gold remain below 1270.... i think..
  • #15,843
  • Sep 10, 2014 8:54am Sep 10, 2014 8:54am
USD is heavily sold, finally!
I recommend you read something else as this sentence is now concluded.
  • #15,844
  • Sep 10, 2014 9:52am Sep 10, 2014 9:52am
Quoting Matts Micro
{quote} "Russia" had no troops in Ukraine in the first place did they? at least that's what they were telling us....

yes thats what they were telling 'us'.. the ukranian officials released a statement with a report of almost 3000 russian soldiers on there land on friday... but in the light of recent sanctions and france blocking the armship supplies of russia as well as the NATO summit i believe that must have caused a change of mind for putin..

however with that out of site i dont know why i just dont see gold under 1235.. it will reach under 1240 for sure.. but that has to be the turning point where it bounces back off.. i cant exactly SHOW on the chart why im saying that.. but as soon as i figure an explainable justification ill post it here.. working on it..
  • #15,845
  • Sep 10, 2014 10:00am Sep 10, 2014 10:00am
161.8 extension in line with previous low 1241
Small buy order at 1243
SL 1235
TP 1292
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  • #15,846
  • Sep 10, 2014 10:06am Sep 10, 2014 10:06am
One question, if US economy becomes better and better, low unemployment rate, GDP increases quarter after quarter, US rate rises and rises. In this scenario, will gold goes down much much below 1200, let's say $800 to $1100 ?
  • #15,847
  • Sep 10, 2014 10:08am Sep 10, 2014 10:08am
Crude oil getting killed again, appears to me that everything except the dollar is getting sold.
"Where you want to be is always in control, never wishing, always trading.
  • #15,848
  • Sep 10, 2014 10:17am Sep 10, 2014 10:17am
Quoting Mr.Kane
One question, if US economy becomes better and better, low unemployment rate, GDP increases quarter after quarter, US rate rises and rises. In this scenario, will gold goes down much much below 1200, let's say $800 to $1100 ?
Sure bro. If geopolitical hogwash will ok.
  • #15,849
  • Sep 10, 2014 10:55am Sep 10, 2014 10:55am
Quoting aeternum
{quote} We shall see in a few months then.
I really don't like the way people here interpret my views. You people read and interpret it the way you desire.

I said Dec needs to close below June consecutively, maybe my bad English, but, I meant that this needs to happen a few times at least. In other words, I would require the seasonal trend to fail for next 2-3 yrs before I can stop following seasons. Something thats been happening for 30 yrs may not trend anymore, fine.. but I would like to see substantial reversal of seasonal patterns to feel convinced.

Do you know who named your country? Singapore? Who discovered your country?

Thousands of years back, way before Singapore was born, ancient Indian festivals were discovered and setup. These trends have sustained since then. When did Gold began to trade? 30 yrs? 40 yrs? its been doing nothing but following seasons.

GOSH! Why do you fellas feel so pricked when it comes to seasons?

I'm tired of explaining seasons, I better stop and call it a day. Maybe some newbies need to see these charts or maybe some fellas here need hammering, so here are these charts attached again.
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Hello World!
  • #15,850
  • Sep 10, 2014 11:02am Sep 10, 2014 11:02am
Quoting Spec_And
Crude oil getting killed again, appears to me that everything except the dollar is getting sold.
there is a strong resistance to higher USD across the majors, i expect majors to range unless the next feds meeting is very hawkish, the exception to this is the sterling pound which might show some weakness ahead of the independence referendum.
I recommend you read something else as this sentence is now concluded.
  • #15,851
  • Sep 10, 2014 11:17am Sep 10, 2014 11:17am
Quoting Obaidah
{quote} there is a strong resistance to higher USD across the majors, i expect majors to range unless the next feds meeting is very hawkish, the exception to this is the sterling pound which might show some weakness ahead of the independence referendum.
S/R are merely price magnets to me, they may or may not hold, I'm not in the business of figuring out that part, I prefer to wait for confirmation of a trend change.
"Where you want to be is always in control, never wishing, always trading.
  • #15,852
  • Sep 10, 2014 11:26am Sep 10, 2014 11:26am
Quoting Spec_And
{quote} S/R are merely price magnets to me, they may or may not hold, I'm not in the business of figuring out that part, I prefer to wait for confirmation of a trend change.
i didn't mean that the trend is changing, i mean that higher USD prices without events are not likely, of course i could be wrong, and since i suffered some losses during the last week i will step aside from the dollar and just scalp the lovely EUR/CHF.
I recommend you read something else as this sentence is now concluded.
  • #15,853
  • Sep 10, 2014 11:30am Sep 10, 2014 11:30am
Quoting Obaidah
{quote} i didn't mean that the trend is changing, i mean that higher USD prices without events are not likely, of course i could be wrong, and since i suffered some losses during the last week i will step aside from the dollar and just scalp the lovely EUR/CHF.
Plenty of events to drive the dollar higher, we have FOMC next week.
"Where you want to be is always in control, never wishing, always trading.
  • #15,854
  • Edited 11:54am Sep 10, 2014 11:34am | Edited 11:54am
What seems to be the pull down factor for GOLD to be lower and lower?

Are US, Chinese and German economy that good? These are my indicators, in my amateurish opinion, of what drives GOLD market.
http://online.wsj.com/news/articles/...89261432501856

USDJPY is resisting sold, I think JPY is printing money to make sure their exports cheaper than US and therefore keeping growth.
DAX is in correction or on the way to being bearish.
Chinese economy is doing well or probably not because its gov't is encouraging its hard saver population to spend in order to keep growth.
http://www.forexfactory.com/news.php?do=news&id=503726
http://www.dailymotion.com/video/x1z...documentary_tv

No one could afford to buy GOLD? But I suppose if the currencies are doing bad, people move their assets in GOLD?
I don't encourage people invest in Crude Oil because it will be replaced by renewables.
contact me for a managed account
  • #15,855
  • Sep 10, 2014 11:50am Sep 10, 2014 11:50am
Approaching 1241.5 and amazingly the selldown continues to be very orderly, there isn't any panic, capitulation or anything of that sort. That to me is an extremely bearish sign.

Can't bring myself to short this now but I'm definitely not buying this either. This is such a difficult market to trade.
"Where you want to be is always in control, never wishing, always trading.
  • #15,856
  • Sep 10, 2014 11:52am Sep 10, 2014 11:52am
Quoting ClockTrader
{quote} I really don't like the way people here interpret my views. You people read and interpret it the way you desire. I said Dec needs to close below June consecutively, maybe my bad English, but, I meant that this needs to happen a few times at least. In other words, I would require the seasonal trend to fail for next 2-3 yrs before I can stop following seasons. Something thats been happening for 30 yrs may not trend anymore, fine.. but I would like to see substantial reversal of seasonal patterns to feel convinced. Do you know who named your...
I think they are not getting your point and taking it a must thing due to your very much confidence in it.. Although you used word "consecutively" which means gold may not follow season like in 2012 (dec close is below june close) but in years n years it follows season.
I know few people who invest in physical gold following it's season..
Those who are not getting gold season, can take it like a strategy of any trader who trades with same strategy but do not succeed 100% but in different ratios like 7/10 8/10 or 5/10.
this year june close is 1326.. dec is still to come.. lets see..
P.S. Trade with the discipline of Money Management and Risk Management.
  • #15,857
  • Sep 10, 2014 11:56am Sep 10, 2014 11:56am
Quoting Spec_And
Approaching 1241.5 and amazingly the selldown continues to be very orderly, there isn't any panic, capitulation or anything of that sort. That to me is an extremely bearish sign. Can't bring myself to short this now but I'm definitely not buying this either. This is such a difficult market to trade.
exactly.. i m just watching the show
P.S. Trade with the discipline of Money Management and Risk Management.
  • #15,858
  • Edited 1:09pm Sep 10, 2014 12:53pm | Edited 1:09pm
Quoting ClockTrader
{quote} I really don't like the way people here interpret my views. You people read and interpret it the way you desire. I said Dec needs to close below June consecutively, maybe my bad English, but, I meant that this needs to happen a few times at least. In other words, I would require the seasonal trend to fail for next 2-3 yrs before I can stop following seasons. Something thats been happening for 30 yrs may not trend anymore, fine.. but I would like to see substantial reversal of seasonal patterns to feel convinced. Do you know who named your...
I don't understand why you're taking such offense against what I say. I simply said that we shall see in a few months to December to see what happens from there. Your theory is your theory and I'm not here to dispute that. If you're being defensive because you're afraid that my comments may cause others to disbelief your trading style then it is your own psychological flaw.

My country's history has nothing to do with this dear sir. I don't get why you brought that up.

Either way I have no interest in having an argument or any of that sort. I shall stop posting to make peace with you. Cheers
A 1 pip gain is better than a 1 pip loss.
  • #15,859
  • Sep 10, 2014 1:13pm Sep 10, 2014 1:13pm
Don't stop posting here bro :/
  • #15,860
  • Sep 10, 2014 1:31pm Sep 10, 2014 1:31pm
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Ro IMRAN Ro
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