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Only Gold!

  • #18,321
  • Oct 30, 2014 9:35am Oct 30, 2014 9:35am
Quoting moto28
hi, i'm long @ 1204 SL 1201 TP1 1215 h&s inverse in formation

On what TF?
  • #18,322
  • Oct 30, 2014 9:37am Oct 30, 2014 9:37am
Quoting ClockTrader
{quote} IF this hits 1180ish area, I don't think it'll bounce from there, triple support is a delusional setup at the moment, IMHO.
You may end up right, but imo I think its more delusional to disregard the power that triple support offers as a trading opprtunity
  • #18,323
  • Oct 30, 2014 9:41am Oct 30, 2014 9:41am
Quoting ClockTrader
{quote} IF this hits 1180ish area, I don't think it'll bounce from there, triple support is a delusional setup at the moment, IMHO.
agree with CT , if it hits 1180 no save for gold,
monthly candle is in critical situation , in my view it should be closed around 1215-18 tomorrow for saving gold!
  • #18,324
  • Oct 30, 2014 9:47am Oct 30, 2014 9:47am
Quoting Arshamv
{quote} agree with CT , if it hits 1180 no save for gold, monthly candle is in critical situation , in my view it should be closed around 1215-18 tomorrow for saving gold!
Thats ok...time will tell soon enough I expect.

But personally I wont be ignoring the strong likelihood that price will be respecting that 1180 level should it go down that far.
  • #18,325
  • Oct 30, 2014 9:57am Oct 30, 2014 9:57am
ON gold in 5 min chart
  • #18,326
  • Oct 30, 2014 10:01am Oct 30, 2014 10:01am
Quoting Landline
{quote} You may end up right, but imo I think its more delusional to disregard the power that triple support offers as a trading opprtunity
Think about banks & corporates, the kind of volumes that would have built in shorts when price hit 1180ish level last time. Price bouncing to 1250 was only to hit those shorts, IMHO.

I remember once talking about Gold with a Jeweler here who was an investor too. Gold Council gets inside inputs. He said there is no way Gold can shoot higher & higher given the way people have been investing in Gold.

This is how I analyze on a broad level (monthly TF).

Stocks look overvalued, if they continue the climb. Everyone would want a safe haven. Imagine every bank, every big corporation investing in Gold, now they all can't be paid by the exchange. One's profit has to come from another's loss. Comex / Globex are not going to pay Big Dogs out of their pockets.

You are right, the picture shall be clear sooner than later. Maybe by tomorrow. I take cues from Silver too. Overall scenario looks very bad, particularly if price goes back into 1180ish range.
Hello World!
  • #18,327
  • Oct 30, 2014 10:01am Oct 30, 2014 10:01am
Quoting moto28
ON gold in 5 min chart
Hi M

What does your comment mean.... tks
  • #18,328
  • Oct 30, 2014 10:07am Oct 30, 2014 10:07am
Quoting ClockTrader
{quote} Think about banks & corporates, the kind of volumes that would have built in shorts when price hit 1180ish level last time. Price bouncing to 1250 was only to hit those shorts, IMHO. I remember once talking about Gold with a Jeweler here who was an investor too. Gold Council gets inside inputs. He said there is no way Gold can shoot higher & higher given the way people have been investing in Gold. This is how I analyze on a broad level (monthly TF). Stocks look overvalued, if they continue the climb. Everyone would want a safe haven. Imagine...
Lets see what happens in the next day or so.... if you are indeed correct and price blasts through 1180 as you are suggesting, then I'll take my hat off to you, I cant be fairer than that
  • #18,329
  • Oct 30, 2014 10:23am Oct 30, 2014 10:23am
Gold make confuse tonight
  • #18,330
  • Oct 30, 2014 10:27am Oct 30, 2014 10:27am
  •  Kah
  • | Joined Jun 2012 | Status: Patience is the Key to Success! | 150 Posts
Why confusing - it is not.

Just keep an eye, since evening DJIA and S&P500 were in NEGATIVE - very slowly it has came up and clinged to the positive side. Dollar is up, stocks are up and latest fundamentals are against Gold, then why is it confusing. It was poised to come down.

Keep an eye on technicals and alternate market movements.

Once you focus on all the things, you will get the if not predict at least hunch the market.

Cheers,
KAH
  • #18,331
  • Oct 30, 2014 10:27am Oct 30, 2014 10:27am
lost a lot of money tonight.

does not hold at 1200 and now straight to 1197..

don't know what happened next.. it is crazy for today
  • #18,332
  • Oct 30, 2014 10:28am Oct 30, 2014 10:28am
Quoting thiando
Gold make confuse tonight
Yes mate, its confusing because Golden Seasons are in deep sh!t.

IF it was climbing like previous decade, everyone would have been calm, happy & green.

I take Gold as the very base indicator for the overall economic health of the world.

I see nothing but GDPs coming down except artificial coloring & flavoring of some financial markets.
Hello World!
  • #18,333
  • Oct 30, 2014 10:35am Oct 30, 2014 10:35am
12 pm NY (EST) approaching, we can expect the fall to hold or maybe go sideways until Asian markets open, I would have expected some retrace at this point but can't find a bottom-out even with a microscope.
Hello World!
  • #18,334
  • Oct 30, 2014 10:36am Oct 30, 2014 10:36am
Quoting Kah
Why confusing - it is not. Just keep an eye, since evening DJIA and S&P500 were in NEGATIVE - very slowly it has came up and clinged to the positive side. Dollar is up, stocks are up and latest fundamentals are against Gold, then why is it confusing. It was poised to come down. Keep an eye on technicals and alternate market movements. Once you focus on all the things, you will get the if not predict at least hunch the market. Cheers, KAH
I won't call it a day today, I'll stick around ;-)
Hello World!
  • #18,335
  • Oct 30, 2014 10:39am Oct 30, 2014 10:39am
  •  Kah
  • | Joined Jun 2012 | Status: Patience is the Key to Success! | 150 Posts
Quoting ClockTrader
{quote} I won't call it a day today, I'll stick around ;-)
Yeah bro - please, else all these people will vanish as well.

Let the thread be alive
  • #18,336
  • Oct 30, 2014 10:43am Oct 30, 2014 10:43am
1190 is still alive & intact.

1180ish range looks like black-hole to me.

Any advise fellas on the basis of technical analysis?

PS: Sorry to say I don't understand news.
Hello World!
  • #18,337
  • Oct 30, 2014 10:55am Oct 30, 2014 10:55am
I have a buy at 1196. I dont think it will go any lower without a correction. I expect a correction atleast till 1210 before the big fall to 1180. Just my view
  • #18,338
  • Oct 30, 2014 11:02am Oct 30, 2014 11:02am
Quoting ClockTrader
1190 is still alive & intact. 1180ish range looks like black-hole to me. Any advise fellas on the basis of technical analysis? PS: Sorry to say I don't understand news.

CT

1190-1192 would be the last reversal point for gold if it doesnt then 1180 can be taken out easily

on the other hand i see some bullish divergence over 1hr but 4 hr is confusing
  • #18,339
  • Oct 30, 2014 11:04am Oct 30, 2014 11:04am
solid downtrend pressure in gold until it makes a new low......its trying to break the bearish 'abcdef' triangle pattern.

if 1180 breaks......last chance for a up move is 1169.....if that breaks..........who knows.....may be 1100...
Nothing Is Certain In The Universe
  • #18,340
  • Oct 30, 2014 11:11am Oct 30, 2014 11:11am
Quoting ClockTrader
1190 is still alive & intact. 1180ish range looks like black-hole to me. Any advise fellas on the basis of technical analysis? PS: Sorry to say I don't understand news.
Well Ive tentatively opened a small long postion ref verticle dotted line to test the waters, based upon my m30 chart attached.

I'm targeting 1208 initially, sl 1190

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