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Only Gold!

  • #16,341
  • Sep 21, 2014 7:11pm Sep 21, 2014 7:11pm
My long 1216 TP 1230
  • #16,342
  • Sep 21, 2014 8:49pm Sep 21, 2014 8:49pm
looks like i've made my day.

Many green pips everyone
  • #16,343
  • Sep 22, 2014 12:21am Sep 22, 2014 12:21am
Quoting Landline
{quote} I see... you certainly have admirable patience and discipline for your seasonal investments I must say, and I guess all those longs must inevitably come good at some stage. I was thinking though, had you applied a reversal strategy in the sense of shorts instead of longs, you would be in some serious pocket already wouldn't you?
Well, my longs and shorts are not well balanced. Most of the profit I made from the current season got wiped by the floating loss I'm having right now. I need price to shoot in order to make a killing.

As far as patience and discipline are concerned, yes, I've been good on that.
Hello World!
  • #16,344
  • Sep 22, 2014 12:22am Sep 22, 2014 12:22am
Quoting XediAnakin
may be gold is heading 1190 next week,if 1190 doesn't hold 1147 is inevitable.after 6 years dollar hitting high after high,this is a great buble created by the central banks to eat investors money,be careful,follow the trend always,there is no reversal candle or pattern at the moment in gold or silver.every time frame telling downtrend clearly.I will be happy to see if gold reverses from 1190.I will close my short and go loooooooooong.....
I am very hopeful of seeing a nice bottom by this weekend, but, until then I would dislike to see Gold falling.
Hello World!
  • #16,345
  • Sep 22, 2014 12:22am Sep 22, 2014 12:22am
Quoting Vigovski
{quote} Be careful i feel long term target is 1028..
Well, not this year, IMHO.
Hello World!
  • #16,346
  • Sep 22, 2014 1:16am Sep 22, 2014 1:16am
I am now very confuse as i holding 2 shorts @ 1218 & 1 long frm 1255 , shall i close my long if the price hit 1200.. anyone can give some opinion ？
  • #16,347
  • Sep 22, 2014 2:34am Sep 22, 2014 2:34am
Made another new multi week low today @ 1208.9.

1180 is just round the corner now, it will act as a price magnet so that level is extremely likely to be tested very soon.
"Where you want to be is always in control, never wishing, always trading.
  • #16,348
  • Sep 22, 2014 2:40am Sep 22, 2014 2:40am
Quoting maxFX9
I am now very confuse as i holding 2 shorts @ 1218 & 1 long frm 1255 , shall i close my long if the price hit 1200.. anyone can give some opinion ？
You took a $37 loss on your 1255 long when you sold 2 @ 1218, you are now net short 1. You need to ask yourself why you did what you just did. You must definitely think gold will move lower from here or you wouldn't be net short 1, you would be adding to your long. So why close your long @ 1200 when you can close it now?
"Where you want to be is always in control, never wishing, always trading.
  • #16,349
  • Sep 22, 2014 2:43am Sep 22, 2014 2:43am
Quoting vaidas7777
Now lets look at price action... And while gold can do nothing, silvers seasonality shows us that action is here. {image} {image} {image}
No significant support for silver anywhere near below... 18.75 (the last major support) is a long way above current levels now.
"Where you want to be is always in control, never wishing, always trading.
  • #16,350
  • Sep 22, 2014 2:47am Sep 22, 2014 2:47am
Added 2 longs @ 1214
Hello World!
  • #16,351
  • Sep 22, 2014 3:00am Sep 22, 2014 3:00am
Quoting ClockTrader
Added 2 longs @ 1214
Am long too from 1215.5. Was not too confident about momentum up owing to small H1 candles, but candles look more promising on M15. Monitoring closely, if price clear 1217-18 decisively, gold may have upward momentum to 1227 or higher. First target at 1.618% expansion taken on M15 I.e. 1221 region. Target set just below that.
even before I can get round to posting this price formed a pin bar on M15; if next bar does not clear the high of this Pindar, May consider closing trade
  • #16,352
  • Sep 22, 2014 4:08am Sep 22, 2014 4:08am
Hi All,

1224-1225 is this week's Weekly Pivot level, while today's Daily Pivot level is at 1219-1220.

IMO, when the two pivots are pretty close like this, Price will tend to test the weekly pivot level. In today's case, it's why Price is steadily going up towards the two levels. After that, Price is either going to go up above the weekly pivot starting a new mid-term Up Trend or to go back down continuing the current Down Trend. We'll see.

Cheers.

Note: I mainly use H1 chart for this analysis.
  • #16,353
  • Sep 22, 2014 4:53am Sep 22, 2014 4:53am
Quoting mact4
{quote} Am long too from 1215.5. Was not too confident about momentum up owing to small H1 candles, but candles look more promising on M15. Monitoring closely, if price clear 1217-18 decisively, gold may have upward momentum to 1227 or higher. First target at 1.618% expansion taken on M15 I.e. 1221 region. Target set just below that. even before I can get round to posting this price formed a pin bar on M15; if next bar does not clear the high of this Pindar, May consider closing trade
Closed buy for small loss - should have trusted my instinct. Entered sell as M15 shows reversal on my chart. Scalping today. Will see if price will drop below 1211, if not will take profit near there
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  • #16,354
  • Sep 22, 2014 6:03am Sep 22, 2014 6:03am
Quoting vaidas7777
In deflationary situation... {image} {image} {image} {image}
i assume gold and silver will raise up in short time...
thanks for the info..
  • #16,355
  • Sep 22, 2014 6:57am Sep 22, 2014 6:57am
Quoting acidguy
magic number $1150.
In worst case this is what it could be. However, I would not take any risk but focus on longs going forward this week. I am very hopeful of a nice bottom-out by this weekend.

Lets see how far can Bears take this. Maybe there is nice support above 1201
Hello World!
  • #16,356
  • Sep 22, 2014 9:00am Sep 22, 2014 9:00am
we shall see 3 digits gold price soon
  • #16,357
  • Sep 22, 2014 9:40am Sep 22, 2014 9:40am
Quoting PatrickNgau
we shall see 3 digits gold price soon
Have you ever observed this thread when Gold is climbing hard on the back of Bulls? You'll see numerous people here who would talk about imaginary targets in North.

And guess what? When Gold is falling, everyday I see people talking imaginary lows here. I wish people were more mature here.
Hello World!
  • #16,358
  • Sep 22, 2014 10:00am Sep 22, 2014 10:00am
Quoting ClockTrader
{quote} Have you ever observed this thread when Gold is climbing hard on the back of Bulls? You'll see numerous people here who would talk about imaginary targets in North. And guess what? When Gold is falling, everyday I see people talking imaginary lows here. I wish people were more mature here.
Agree on the trend followers always calling for targets out of reach, can be handy though for making a contrarian trade to the herd when they start to shout about thinking that they know where the price is heading. (usually near the end of a trend)

It seems to be near consensus by many traders and two bit analysts that Gold will breech the 1200 rage and head lower. This has me concerned a little...


Also with gold in a deep down trend, its rather quiet in this thread and the post count is down somewhat.
  • #16,359
  • Sep 22, 2014 10:11am Sep 22, 2014 10:11am
Quoting Dafonz
{quote} Agree on the trend followers always calling for targets out of reach, can be handy though for making a contrarian trade to the herd when they start to shout about thinking that they know where the price is heading. (usually near the end of a trend) It seems to be near consensus by many traders and two bit analysts that Gold will breech the 1200 rage and head lower. This has me concerned a little... Also with gold in a deep down trend, its rather quiet in this thread and the post count is down somewhat.
Try to Google and see what "World Gold Council" was saying loudly when price was around 1230 last year. What they said turned out true, it went below 1200 and see what happened after that.

Whatever you do, make sure to respect MM and I suggest people to use SL.
Hello World!
  • #16,360
  • Sep 22, 2014 10:12am Sep 22, 2014 10:12am
Quoting Dafonz
{quote} Agree on the trend followers always calling for targets out of reach, can be handy though for making a contrarian trade to the herd when they start to shout about thinking that they know where the price is heading. (usually near the end of a trend) It seems to be near consensus by many traders and two bit analysts that Gold will breech the 1200 rage and head lower. This has me concerned a little... Also with gold in a deep down trend, its rather quiet in this thread and the post count is down somewhat.
It means that price down cleans many accounts. Many traders are gone with their money and of course less comments.Anyway, keeping the faith likes CT. Let see we can see 1180 or not.
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