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Only Gold!

  • #17,841
  • Oct 21, 2014 5:42am Oct 21, 2014 5:42am
hello Folks how is everyone
hope all doing good i have created a live chat trading group for thous who is interested we can all chat live about the market and technical analysis let me know for thous who wanna join in
('',)
Senior Trader Multi-Account Manager
  • #17,842
  • Oct 21, 2014 6:00am Oct 21, 2014 6:00am
Quoting lorix
hello Folks how is everyone hope all doing good i have created a live chat trading group for thous who is interested we can all chat live about the market and technical analysis let me know for thous who wanna join in ('',)
Count me in
Think what they want you to think and do the opposite.
  • #17,843
  • Oct 21, 2014 6:30am Oct 21, 2014 6:30am
...just noticed that the VIX is down over 15% ...
  • #17,844
  • Oct 21, 2014 6:38am Oct 21, 2014 6:38am
Quoting griffinssoul
...just noticed that the VIX is down over 15% ...
positive correlation with gold?
so yellow should be down
  • #17,845
  • Oct 21, 2014 6:47am Oct 21, 2014 6:47am
Quoting Arshamv
{quote} positive correlation with gold? so yellow should be down
Good point! I guess it goes in and out of correlation (as explain by waleed.khan in the post above; http://www.forexfactory.com/showthre...21#post7812121)

...but you would imagine a rapid change having some local effects?
  • #17,846
  • Oct 21, 2014 6:58am Oct 21, 2014 6:58am
Quoting griffinssoul
{quote} Hi CT, what do you have in mind for TP targets? (only if you care to share )
Given the seasonal waves in action, I don't expect a long bear rally from here. I'll wait for a clean & clear Bingo bottom out on H1 (VVSA) to close shorts IF this does not shoot way high from here. I have applied SL @ 1260 on many shorts.
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  • #17,847
  • Oct 21, 2014 7:01am Oct 21, 2014 7:01am
Quoting ClockTrader
{quote} Given the seasonal waves in action, I don't expect a long bear rally from here. I'll wait for a clean & clear Bingo bottom out on H1 (VVSA) to close shorts IF this does not shoot way high from here. I have applied SL @ 1260 on many shorts.
(As always, many thanks CT)
  • #17,848
  • Oct 21, 2014 7:23am Oct 21, 2014 7:23am
Not sure how many of you observed the fact that I insisted on price touching 1250 yesterday. I even said that I'd wait for Asian morning. I started selling today a little early though, nevertheless not too bad.

On similar grounds, VVSA indicates price shall touch 1245 sooner than later today. There is a clear and small bottom out on M15, BUT I would like to ignore this and anticipate that price shall go way below. This bottom out shall get invalidated IF my VVSA is right.
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  • #17,849
  • Oct 21, 2014 7:31am Oct 21, 2014 7:31am
Looks Like its Launching again, Station could it be 1260 this time. I hope so.
No guts, no glory
  • #17,850
  • Oct 21, 2014 7:35am Oct 21, 2014 7:35am
H1 chart is too bullish now to try a short here, i'll watch for new highs. This small morning correction was a good short, but we couldn't expect a bear run really.

All eyes on NY now
COT: The precious data ignored
  • #17,851
  • Oct 21, 2014 7:35am Oct 21, 2014 7:35am
Hi all,

A quick update where I foresee price going.

I've marked up a daily chart attached which guides me to believe price will continue upwards in line with the recent momentum. In general terms, I think its best to buy upon any retrace signal from the 4 hr or 1 hr chart at present. As I've stated in past posts, there seems enough scope for price to hit 1300 or so plus in the coming week or two, but the first hurdle imo is overcoming 1253, then it thould open the way for a path north.
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  • #17,852
  • Oct 21, 2014 7:49am Oct 21, 2014 7:49am
Quoting abokwaik
Looks Like its Launching again, Station could it be 1260 this time. I hope so.
That's where many of my SLs are :-)
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  • #17,853
  • Oct 21, 2014 7:50am Oct 21, 2014 7:50am
Peak Outs getting invalidated. Bottom-outs playing hard. I'll take a patience pill. Here I share M30

Quoting ClockTrader
Not sure how many of you observed the fact that I insisted on price touching 1250 yesterday. I even said that I'd wait for Asian morning. I started selling today a little early though, nevertheless not too bad. On similar grounds, VVSA indicates price shall touch 1245 sooner than later today. There is a clear and small bottom out on M15, BUT I would like to ignore this and anticipate that price shall go way below. This bottom out shall get invalidated IF my VVSA is right. {image}
Attached Image (click to enlarge)
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Hello World!
  • #17,854
  • Oct 21, 2014 8:10am Oct 21, 2014 8:10am
The metal is trading positively as expected in My previous reports, and benefited from stabilizing above 38.2% correction at 1236.15 showing above. Stability above the referred to level is positive as it favors to extend the upside move towards 61.8% correction at 1269.15 levels.

As for today, the interval and the bullish extension for today is Fibonacci levels 50% residing at 1252.65, but trading above 1236.15 forces me to favor breaching the referred to level. Linear Regression Indicators, MACD and RSI are positive supporting My expectations.


Support 1244.50 1240.25 1236.15 1231.05 1226.60
Resistance 1252.65 1260.90 1262.65 1269.15 1274.55
  • #17,855
  • Oct 21, 2014 8:12am Oct 21, 2014 8:12am
lot of you guys short hunting so if your looking for the next resistant level to try shorting is 1257-8


me I wont short gold with all the news coming out of ECB and China but most of you are so watch for 1257-8 area cheers
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Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #17,856
  • Oct 21, 2014 8:19am Oct 21, 2014 8:19am
We have a festival in India, and most of us are buying Gold today.
Money never sleeps I can hear the dollar calling me
  • #17,857
  • Oct 21, 2014 10:13am Oct 21, 2014 10:13am
Quoting lorix
hello Folks how is everyone hope all doing good i have created a live chat trading group for thous who is interested we can all chat live about the market and technical analysis let me know for thous who wanna join in ('',)
I'm in. But via what ? skype or any other chat tools ? Please give the link
Thank so much mate
  • #17,858
  • Oct 21, 2014 10:17am Oct 21, 2014 10:17am
Quoting ClockTrader
Peak Outs getting invalidated. Bottom-outs playing hard. I'll take a patience pill. Here I share M30 {quote} {image}
CT I wonder about the gold festival. Does the physical retail buying is really big enough to move the price a lot since it has no leverage like what Forex does ? gold physical buying volume and online trading volume which one is bigger ?
  • #17,859
  • Oct 21, 2014 10:44am Oct 21, 2014 10:44am
Quoting Mr.Kane
{quote} CT I wonder about the gold festival. Does the physical retail buying is really big enough to move the price a lot since it has no leverage like what Forex does ? gold physical buying volume and online trading volume which one is bigger ?
IMHO, there is no connection between virtual trading & physical Gold except that physical Gold follows the price as in Forex markets.

The ancient Indian festivals most of which fall in 2nd half of Golden Seasons do create a huge demand in India, Apple has been launching its products around this time too. Stats in West also say that we do most shopping during this period of the year. X-Mas falls in this period too. I say its all about Seasons.

PS: Just because a country bought hundreds of tons of physical Gold, I would not buy in Forex expecting the price to shoot unless VVSA + seasons support the call.
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  • #17,860
  • Oct 21, 2014 10:52am Oct 21, 2014 10:52am
Quoting Mr.Kane
{quote} I'm in. But via what ? skype or any other chat tools ? Please give the link Thank so much mate
You might wanna take a look at this site: seasonalcharts.com

Its all about Seasons (based on Research)
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