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Only Gold!

  • #16,761
  • Sep 30, 2014 8:30am Sep 30, 2014 8:30am
closed all my longs with nice green (",)
Senior Trader Multi-Account Manager
  • #16,762
  • Sep 30, 2014 8:34am Sep 30, 2014 8:34am
Quoting ClockTrader
{quote} Price has been going sideways for the past 12+ days for me (on H4), bottom appears locked unless it falls freely. VVSA patterns are cheating, not clear at all. I have no strategy but to remain invested at this point of time.
the recent down leg had a lot of momentum behind it, ADX 13 hit 50 on the daily TF, which hasn't been seen since feb of this year, during the Crimea crisis...

reversing such a strong move can take time, though, like you, I agree that the bottom has either been marked already or is very very close... bullish momentum divergences are flashing warning signs all over the place

My suspicion is that any downwards movement now would be a bear trap, there seems to be a lot of demand down here; prices will soon spike higher very aggressively, similar to what they did in the second half of march (spiked lower)

for the record, Im long, took one entry last week at 1213, another today at 1206, lets hope for the best

good luck
90% of people, are wrong about 90% of everything, 90% of the time...
  • #16,763
  • Sep 30, 2014 8:48am Sep 30, 2014 8:48am
And then the bears go silent .......
  • #16,764
  • Sep 30, 2014 9:00am Sep 30, 2014 9:00am
Quoting Flybird
And then the bears go silent .......
Its been peaking out on every ~10 $ climb and bottoms out on every ~10 $ fall on VVSA.

Very hard to trade / invest in a range bound situation. ONLY SOLUTION, let Bulls take charge, IF price can fly through 1235 within a day or even this week instead of falling freely below 1200, I would say BULLS ARE BACK!!
Hello World!
  • #16,765
  • Sep 30, 2014 9:02am Sep 30, 2014 9:02am
Quoting Flybird
And then the bears go silent .......

this is a feeding frenzy for the wolves (market makers)... everyone needs to get paid!
90% of people, are wrong about 90% of everything, 90% of the time...
  • #16,766
  • Sep 30, 2014 9:15am Sep 30, 2014 9:15am
Quoting theDHT
{quote} this is a feeding frenzy for the wolves (market makers)... everyone needs to get paid!
hahahaaha take your part and leave seems like thats whats happening .
  • #16,767
  • Sep 30, 2014 9:24am Sep 30, 2014 9:24am
Quoting theDHT
{quote} this is a feeding frenzy for the wolves (market makers)... everyone needs to get paid!

  1. Sideways would normally kill punters.
  2. A fall like this month would kill greedy traders, particularly who don't respect MM

The insiders (wolves) would make money in any season.

Hello World!
  • #16,768
  • Sep 30, 2014 9:32am Sep 30, 2014 9:32am
Quoting Likerty
look what gold will do in the 1195/2 area (could spike in to 1188..) there is a chance for a bull correction towards 1220's and 1250's
Gold did it's correction for 1220 very quickly.. Will it continue for 1250 from here or from 1190's?
69
  • #16,769
  • Sep 30, 2014 10:03am Sep 30, 2014 10:03am
Quoting Spec_And
Bear flag consolidation, with possible breakdown. {image}
Lower trend line held, for now.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 34 KB
"Where you want to be is always in control, never wishing, always trading.
  • #16,770
  • Sep 30, 2014 10:07am Sep 30, 2014 10:07am
China will have her holidays from Wednesday this week till Tuesday next week. Hence, it's reasonable to expect that Gold may continue its Bearish Tendency during the period at least. Check FF Calendar here.

I would be very careful not to trade Long till after.
  • #16,771
  • Sep 30, 2014 10:10am Sep 30, 2014 10:10am
Quoting ClockTrader
{quote} Sideways would normally kill punters. A fall like this month would kill greedy traders, particularly who don't respect MM The insiders (wolves) would make money in any season.
Market makers don't move markets, they make money from the bid/ask spreads. Its the managed money (large specs) and commercials (producers) that move markets. FWIW large specs have been reducing net longs 6 weeks in a row and commercials have been reducing their net shorts in that same time frame.

Some will view this as contrarian bullish but bear in mind that large specs are still massively net long gold, they could continue to reduce their exposure and god knows where the bottom is going to be if they do that.
"Where you want to be is always in control, never wishing, always trading.
  • #16,772
  • Sep 30, 2014 10:14am Sep 30, 2014 10:14am
[quote=ClockTrader;7770513]{quote} Its been peaking out on every ~10 $ climb and bottoms out on every ~10 $ fall on VVSA. Very hard to trade / invest in a range bound situation. ONLY SOLUTION, let Bulls take charge, IF price can fly through 1235 within a day or even this week instead of falling freely below 1200, I would say BULLS ARE BACK!![/quote

The bulls are disappointing....

No power....

Charge 1st gear, 2nd gear.... then brake.....
  • #16,773
  • Edited Oct 1, 2014 2:38am Sep 30, 2014 10:21am | Edited Oct 1, 2014 2:38am
It seems to me like this.
Attached Image (click to enlarge)
Click to Enlarge Name: Gold 02.PNG Size: 46 KB
  • #16,774
  • Sep 30, 2014 10:36am Sep 30, 2014 10:36am
Quoting Spec_And
{quote} Market makers don't move markets, they make money from the bid/ask spreads. Its the managed money (large specs) and commercials (producers) that move markets. FWIW large specs have been reducing net longs 6 weeks in a row and commercials have been reducing their net shorts in that same time frame. Some will view this as contrarian bullish but bear in mind that large specs are still massively net long gold, they could continue to reduce their exposure and god knows where the bottom is going to be if they do that.
There must be some insiders, thats the segment of people I was addressing to. There have to be people who run Globex / Comex. Their servers just can't run on their own without human intervention.

Bottom Out today, thereafter peakout.. on VVSA

The peakout is currently bringing the price down.

I like your inputs mate, mind telling us more about yourself?
Hello World!
  • #16,775
  • Sep 30, 2014 10:38am Sep 30, 2014 10:38am
[quote=tbngfuego;7770682]
Quoting ClockTrader
{quote} Its been peaking out on every ~10 $ climb and bottoms out on every ~10 $ fall on VVSA. Very hard to trade / invest in a range bound situation. ONLY SOLUTION, let Bulls take charge, IF price can fly through 1235 within a day or even this week instead of falling freely below 1200, I would say BULLS ARE BACK!![/quote The bulls are disappointing.... No power.... Charge 1st gear, 2nd gear.... then brake.....
Yea, Bull show has been disappointing this week by far. I have no choice but to have patience.

All this month my view was bearish and it went nicely down, NOW when my view is in favor of Bulls, this ain't showing any strength. Rather I'm preparing myself for a possible fall ahead.
Hello World!
  • #16,776
  • Sep 30, 2014 10:42am Sep 30, 2014 10:42am
PeakOut (PO) in effect as visible in the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: ss.PNG Size: 28 KB
Hello World!
  • #16,777
  • Sep 30, 2014 11:01am Sep 30, 2014 11:01am
Quoting wibie g
Hmmm, I am keen to see what Gold Bullish Supporters would say about the latest price drop this last hour..
Been busy pipping!

1st trade - Was out and came back to see price went against me. In retrospect, what I saw as a HL was merely a correction.
2nd trade A sell - after a fast dip and then some consolidation, price can go down further. Channel implied at least 40-50 pip down movement possible. Price refused to go down to bottom of channel, so closed trades
3rd trade - A buy: Entered a bit late. I simply could not believe that price would go up significantly but the momentum on entry bar convinced me otherwise. EA held, so exited
4th trade - because EMA held, a retrace looked likely. Monitored on M5 (!) just in case. price likely to go down further, perhaps to bottom of channel or beyond, but that's enough for today.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 72 KB
  • #16,778
  • Sep 30, 2014 11:02am Sep 30, 2014 11:02am
Quoting ClockTrader
PeakOut (PO) in effect as visible in the chart. {image}
So what is the overall direction for the remaining days of this week? Buy or Sell?
Think outside the box; opposite what they want you to think.
  • #16,779
  • Sep 30, 2014 11:36am Sep 30, 2014 11:36am
Quoting Philman
{quote} So what is the overall direction for the remaining days of this week? Buy or Sell?
If you wanna buy, you just can't buy, you'll have to buy as an investor.

IF you wanna trade, I would suggest gain some expertise in VVSA. Practice it for 1-2 yrs at least. The patterns are changing several times everyday. One has to be too swift. On the bottom-out, I added 4 longs, price rose within an hr. I applied +ve SL, these blew as you can imagine. Been trading both ways, yet, my positions are heavy long as I've been closing shorts, still got like 14 shorts and 46 longs right now.

I'll close all of my shorts within next 4-6 weeks.

Its been rough lately.

PS: Been taking nice profits, but the waves will go beyond my speculation IF this doesn't climb well during the remainder season.
Hello World!
  • #16,780
  • Sep 30, 2014 11:44am Sep 30, 2014 11:44am
Season says.. go loooooong

VVSA says.. bottom out is pending and most likely it is pending

Like I said earlier, if u wanna buy, buy it like an investor

I'll call it a day on this note: Trade safe, if you have moolah there will always be another day here.. respect MM
Hello World!
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