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  • #17,761
  • Oct 20, 2014 3:21am Oct 20, 2014 3:21am
Quoting Matts Micro
{quote} Welcome This move is instigated by the Swedish people (to their credit imo). To my understanding it is to put the breaks on the central bank and government from devaluing the Swedish krona in the printing presses. The Gov/Bank is fighting the move. What the ramifications will be and if others take up the fight will be something to watch.
Thanks Matt! Are you anticipating the same kind of reaction (perhaps on a larger scale) as with the China buy on Gold? That could be a huge (understatement) opportunity
  • #17,762
  • Oct 20, 2014 3:29am Oct 20, 2014 3:29am
first attempt at the 1242-3 was rejected lets see if it goes down to test 1237 or stays above 1240 and have another go at it
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #17,763
  • Oct 20, 2014 3:32am Oct 20, 2014 3:32am
Quoting blue_z_zz
me personally would not short gold at this time as I explain in my previous posts for today im looking for a price to stay above 1237 and a break of Thursdays highs more like 1242-3 next target will be 1270's and we will see what happens after that {image} {image}
Great call blue_z_zz!
  • #17,764
  • Oct 20, 2014 3:34am Oct 20, 2014 3:34am
Quoting griffinssoul
{quote} Thanks Matt! Are you anticipating the same kind of reaction (perhaps on a larger scale) as with the China buy on Gold?
That's a difficult question and prob out of my league. The major difference I can see is China was supported by their industry (that created demand for Gold) whereas Switzerland will be purchasing without the built up funds that that kind industry boom creates. What if any difference this creates is unknown to me.
As the lights go by so too do the shadows move
  • #17,765
  • Oct 20, 2014 3:54am Oct 20, 2014 3:54am
Its not a good area to take any new trade, i guess it'd be safer to wait for a move higher/lower before jumping in.

I wouldn't short right now when i look at m15, but i'd definitely think about it if we reach the highs
COT: The precious data ignored
  • #17,766
  • Oct 20, 2014 6:25am Oct 20, 2014 6:25am
Quoting kuroro001
Its not a good area to take any new trade, i guess it'd be safer to wait for a move higher/lower before jumping in. I wouldn't short right now when i look at m15, but i'd definitely think about it if we reach the highs
Agree with you mate. There was a bottom-out on M15 on Sat. which is in play.

I'll wait for volatility before taking next view, would remain on sidelines.
Hello World!
  • #17,767
  • Oct 20, 2014 6:40am Oct 20, 2014 6:40am
Quoting ClockTrader
{quote} Agree with you mate. There was a bottom-out on M15 on Sat. which is in play. I'll wait for volatility before taking next view, would remain on sidelines.
Definitely! Bulls are in control for now.

Same here, sidelines until a setup comes up, either during NY or tomorrow, no rush
COT: The precious data ignored
  • #17,768
  • Oct 20, 2014 6:40am Oct 20, 2014 6:40am
clear break of 1242-3 and there is a flag shape formation with a price target of 1265

set my target at 1270 hopefully we'll reach it today
Attached Image (click to enlarge)
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Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #17,769
  • Oct 20, 2014 6:44am Oct 20, 2014 6:44am
Hi Everyone!

It seems we are going to see weakness for the usd index this week also...which can possibly be bullish for gold.

There are still no reversal candles on the 1240 level on the daily chart, and hence price could extend its bullish run to the next support level.

https://www.tradingview.com/v/cCWPHmyA/

For the longer term I expect price to retrace to the levels identified on the charts... However if it does extend more then perhaps as per weekly chart elliott wave analysis we could possibly be in an ABCDE Elliott wave consolidation pattern which might take another year or 2 to complete...leaving gold in a trading range of 200 to 300 dollars...
  • #17,770
  • Oct 20, 2014 6:44am Oct 20, 2014 6:44am
Quoting blue_z_zz
clear break of 1242-3 and there is a flag shape formation with a price target of 1265 set my target at 1270 hopefully we'll reach it today {image}
1270 today? it will be great if it will reach 1270.
  • #17,771
  • Oct 20, 2014 6:47am Oct 20, 2014 6:47am
Quoting blue_z_zz
clear break of 1242-3 and there is a flag shape formation with a price target of 1265 set my target at 1270 hopefully we'll reach it today {image}
Goodluck blue_z_zz ! a target of 1270 would be amazing !
  • #17,772
  • Oct 20, 2014 6:53am Oct 20, 2014 6:53am
Quoting ClockTrader
{quote} Agree with you mate. There was a bottom-out on M15 on Sat. which is in play. I'll wait for volatility before taking next view, would remain on sidelines.

Quoting kuroro001
{quote} Definitely! Bulls are in control for now. Same here, sidelines until a setup comes up, either during NY or tomorrow, no rush
just go with the flow guys don't get married to a certain direction
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #17,773
  • Oct 20, 2014 6:54am Oct 20, 2014 6:54am
Quoting waleed.khan
Hi Everyone! It seems we are going to see weakness for the usd index this week also...which can possibly be bullish for gold. There are still no reversal candles on the 1240 level on the daily chart, and hence price could extend its bullish run to the next support level. https://www.tradingview.com/v/cCWPHmyA/ For the longer term I expect price to retrace to the levels identified on the charts... However if it does extend more then perhaps as per weekly chart elliott wave analysis we could possibly be in an ABCDE Elliott wave consolidation...
Hi waleed.khan, may I ask, is there a trade-able correlation/relationship between the usd index and gold. There have been various opinions expressed here and I'd like to know your take on it. Thanks!
  • #17,774
  • Oct 20, 2014 6:55am Oct 20, 2014 6:55am
Quoting griffinssoul
{quote} Goodluck blue_z_zz ! a target of 1270 would be amazing !
thanks griffins
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #17,775
  • Oct 20, 2014 7:04am Oct 20, 2014 7:04am
The real confirmation for GOLD Bullish Trend is when its D1 Candles can breakthrough above SMA 50 Days, or showing reversal pattern instead..
Attached Image (click to enlarge)
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  • #17,776
  • Oct 20, 2014 7:11am Oct 20, 2014 7:11am
Quoting wibie g
The real confirmation for GOLD Bullish Trend is when its D1 Candles can breakthrough above SMA 50 Days, or showing reversal pattern instead.. {image}
Hey dude what indicators are you using? I quite like the layout
  • #17,777
  • Oct 20, 2014 7:25am Oct 20, 2014 7:25am
Quoting BullBearing
{quote} Hey dude what indicators are you using? I quite like the layout
Thanks.

Key Indicators:
EMA 20, SMA 50, SMA 200, Monthly & Weekly Pivots, Heiken Ashi Smoothed, SupDem, Channel Surfer..
  • #17,778
  • Oct 20, 2014 7:30am Oct 20, 2014 7:30am
Quoting Spec_And
I'm inclined to think that THE bottom is in, the entire break down post NFPR has been erased, in fact its now gone even higher. Price action looks bullish to me too, just like how the slow grind downs were not buying opportunities, these slow grind ups cannot be sold short too. It is very difficult to buy now though, there hasn't been a single decent pullback since we hit 1184...
Amazing but this price action is exactly the opposite of what we got when it was moving down a few weeks ago.

Gold's price behaviour has changed, not sure why but volatility is down huge, even when its moving down. All moves are very slow grindy moves now...
"Where you want to be is always in control, never wishing, always trading.
  • #17,779
  • Oct 20, 2014 7:59am Oct 20, 2014 7:59am
Quoting wibie g
The real confirmation for GOLD Bullish Trend is when its D1 Candles can breakthrough above SMA 50 Days, or showing reversal pattern instead.. {image}
it depends on what you see , for me im looking at the triple bottom 1180 as a reversal pattern but not yet confirmed nor denied
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #17,780
  • Oct 20, 2014 8:01am Oct 20, 2014 8:01am
Quoting blue_z_zz
{quote} {quote} just go with the flow guys don't get married to a certain direction
This is the reason I cleaned shorts off my slate and went on sidelines.

Quoting kuroro001
{quote} Definitely! Bulls are in control for now. Same here, sidelines until a setup comes up, either during NY or tomorrow, no rush
A small peakout on M15.

By 12 pm IF this can hit 1250, that would complete one wave and a possible op to short. Lets see how this PA culminates.
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