Only Gold! | Page 829 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading Journal (only my take) 433 replies

Trading gold and silver only 59 replies

An idea for building wealth...using only gold 9 replies

GOLD traders only 90 replies

Attachments: Only Gold!
Exit Attachments

Only Gold!

  • #16,561
  • Sep 25, 2014 7:10am Sep 25, 2014 7:10am
Quoting Matts Micro
I am looking at WTI and if the daily falling TL breaks, this could possibly be the low for Gold.
Looking at the Gold falling channel though, PA may need to hit the bottom falling TL for a spring board before lift off (perhaps around 1200).
As the lights go by so too do the shadows move
  • #16,562
  • Sep 25, 2014 7:17am Sep 25, 2014 7:17am
Quoting Likerty
USD weakness is lurking around the corner.. Could send gold to 1240/80's.. 1226 must give for bullish scenarios..
Where are you seeing this weakness? DXY broke out and there has been strong follow thru on break, its moving up to 88s at least.
"Where you want to be is always in control, never wishing, always trading.
  • #16,563
  • Sep 25, 2014 7:26am Sep 25, 2014 7:26am
ohhhh................scary moment ......
  • #16,564
  • Sep 25, 2014 7:36am Sep 25, 2014 7:36am
Quoting Spec_And
{quote} Where are you seeing this weakness? DXY broke out and there has been strong follow thru on break, its moving up to 88s at least.
Im not calling a top in DX (yet), but the current rally is way overcooked and is flashing all sorts of warning signs...
shorting it at this time is a fools game, but certainly, if you missed it, now is NOT the time to be getting long...
a pull back is definitely in order at some point soon...
longer term, i see DX outperforming every major currency on a relative basis, but for now, buyer beware!
90% of people, are wrong about 90% of everything, 90% of the time...
  • #16,565
  • Sep 25, 2014 7:44am Sep 25, 2014 7:44am
Quoting theDHT
{quote} Im not calling a top in DX (yet), but the current rally is way overcooked and is flashing all sorts of warning signs... shorting it at this time is a fools game, but certainly, if you missed it, now is NOT the time to be getting long... a pull back is definitely in order at some point soon... longer term, i see DX outperforming every major currency on a relative basis, but for now, buyer beware!
Yes at some point, but its pointless trying to time pullbacks because they are inevitably shallow. I mean lots of traders must have tried to short the dollar 2 weeks ago when the rally was already getting long in the tooth, but look at where the dollar is right now, its gone even higher!

I'm flat until I see clear signs of a bottom, not taking a risk with trying to trade anything counter trend.
"Where you want to be is always in control, never wishing, always trading.
  • #16,566
  • Sep 25, 2014 7:50am Sep 25, 2014 7:50am
Quoting Spec_And
{quote} Yes at some point, but its pointless trying to time pullbacks because they are inevitably shallow. I mean lots of traders must have tried to short the dollar 2 weeks ago when the rally was already getting long in the tooth, but look at where the dollar is right now, its gone even higher! I'm flat until I see clear signs of a bottom, not taking a risk with trying to trade anything counter trend.
agreed 100%

i made that mistake after i saw ,what I thought, was a tweezer reversal pattern on weekly charts after August 10th... back then DX was at ~81.4

thank god i took a tiny position... we all know how that turned out!
90% of people, are wrong about 90% of everything, 90% of the time...
  • #16,567
  • Sep 25, 2014 8:21am Sep 25, 2014 8:21am
My take on recent pa alone, looking at the daily t/f with long tails starting to appear etc is suggesting to me that market sentiment could be shifting. I'm not in the market myself at present, but I'm thinking that although price will probably go sub 1200 very soon, (exactly where to though who knows), I'm not convinced it will go much further south now to warrant getting involved into a short position so I am gonna keep my powder dry for a few days to look for a strong long signal before I test the water.

I'm expecting a typical pin bar soon, maybe even today/tomorrow, which is bound to put the cat amongst the pigeons if one develops, interesting day or two ahead of us thats for sure.
  • #16,568
  • Sep 25, 2014 8:57am Sep 25, 2014 8:57am
Seniors/ experts,

what is happeing?

Bulls charged??
  • #16,569
  • Sep 25, 2014 8:58am Sep 25, 2014 8:58am
http://www.marketwatch.com/story/pri...MW_latest_news
  • #16,570
  • Sep 25, 2014 8:59am Sep 25, 2014 8:59am
Quoting tbngfuego
Seniors/ experts, what is happeing? Bulls charged??
wait for a fib retrace to get long here, 1218 is a key level on the short term charts, we wanna see a break and test before going long...

keep eyes on USD/JPY and SPX, they need to confirm the move in gold...
90% of people, are wrong about 90% of everything, 90% of the time...
  • #16,571
  • Sep 25, 2014 9:02am Sep 25, 2014 9:02am
Quoting tbngfuego
Seniors/ experts, what is happeing? Bulls charged??
Can say YES. But can only be taken into account only if price brakes 1220 today.
  • #16,572
  • Sep 25, 2014 9:02am Sep 25, 2014 9:02am
Market reacting to bad US news, closed my shorts at 1206 earlier and straightly went long, loving it
Targeting 1240, will see how it goes
  • #16,573
  • Sep 25, 2014 9:03am Sep 25, 2014 9:03am
Quoting theDHT
{quote} wait for a fib retrace to get long here, 1218 is a key level on the short term charts, we wanna see a break and test before going long... keep eyes on USD/JPY and SPX, they need to confirm the move in gold...


Another question....

What at has usd jpy got to do with gold?

Whats the relationship?
  • #16,574
  • Sep 25, 2014 9:03am Sep 25, 2014 9:03am
UJ broke support for the begin of it's pullback. Silver now has a legitimate bottom with a double bottom. Whether it holds or not is another matter.
As the lights go by so too do the shadows move
  • #16,575
  • Sep 25, 2014 9:04am Sep 25, 2014 9:04am
Quoting Rashidtrade
http://www.marketwatch.com/story/pri...MW_latest_news
That makes more sense than PMI news...

Still short going for 1200 before any bounce.
Anything can happen.
  • #16,576
  • Sep 25, 2014 9:07am Sep 25, 2014 9:07am
Quoting tbngfuego
{quote} Another question.... What at has usd jpy got to do with gold? Whats the relationship?
USD/JPY to GOLD is inverse
JPY Futures to GOLD is direct

right now, the yens seem to like this move in gold...

think of it in terms of risk

strong yen = risk off
weak yen = carry trade = risk off risk on!!
90% of people, are wrong about 90% of everything, 90% of the time...
  • #16,577
  • Sep 25, 2014 9:09am Sep 25, 2014 9:09am
US Dollar index going down http://www.marketwatch.com/investing/index/dxy
  • #16,578
  • Sep 25, 2014 9:11am Sep 25, 2014 9:11am
Quoting ddinnov
{quote} That makes more sense than PMI news... Still short going for 1200 before any bounce.
I tend to more or less agree with your view.... I think we can expect plenty of chop whilst in a zone of potential transition.... traders need to be ultra alert on these occasions as plenty of f/outs are bound to occur as price starts unravelling itself
  • #16,579
  • Sep 25, 2014 9:14am Sep 25, 2014 9:14am
Quoting Rashidtrade
US Dollar index going down http://www.marketwatch.com/investing/index/dxy
Thats a good sign for ppl who are holding longs.
US index is inversely proportional to XAU.
  • #16,580
  • Sep 25, 2014 9:19am Sep 25, 2014 9:19am
Quoting AnilLonely
{quote} Thats a good sign for ppl who are holding longs. US index is inversely proportional to XAU.

Hi Anil

while this is true in theory, this relationship has broken down ever since the fed started QE

the JPY relationship is much more robust and can be mapped over a decade...
90% of people, are wrong about 90% of everything, 90% of the time...
12 traders viewing now