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Only Gold!

  • #18,461
  • Oct 31, 2014 10:56am Oct 31, 2014 10:56am
Christmas and December holiday season is upcoming. Dont forget.
Monday Chinese BUYERS TO ATTACK MARKETS )))))))
always draw trendlines
  • #18,462
  • Oct 31, 2014 11:09am Oct 31, 2014 11:09am
Quoting tk5
Christmas and December holiday season is upcoming. Dont forget. Monday Chinese BUYERS TO ATTACK MARKETS )))))))
I believe so also. Maybe gold season will start on monday
  • #18,463
  • Oct 31, 2014 11:10am Oct 31, 2014 11:10am
$1080 target within the next 4 weeks.
Trade with what you see, not what you feel.
  • #18,464
  • Oct 31, 2014 11:15am Oct 31, 2014 11:15am
Quoting goldstreet
{quote} I believe so also. Maybe gold season will start on monday
chinese + indians, 2 billion population will attack gold market from monday till christmas. speculation, speculation.
  • #18,465
  • Oct 31, 2014 11:21am Oct 31, 2014 11:21am
CT. Should we call it a day now or not yet?
  • #18,466
  • Oct 31, 2014 12:10pm Oct 31, 2014 12:10pm
Quoting kuroro001
First time in day i see a "strong" buying setup, but its already failing. If the good m30/h1 volume works out we could head back into 1185/90 area. I chanced a long here with stop at 1152, we already 40 dollars down, lets see if we can retrace a bit of it before heading below 1000 soon
So far so good, but i'm out at 1174 resistance, week end and halloween are already on!

Party guys
COT: The precious data ignored
  • #18,467
  • Oct 31, 2014 12:20pm Oct 31, 2014 12:20pm
Quoting griffinssoul
{quote} ... may I join you guys on the side there, perhaps a nice cup of Tea will do the trick. CT, I'm more than happy to admit my analyses was incorrect - long from a 61.8 retrace. Looks like the EW traders did well as yourself... any biscuits?
Never feel bad just coz you lost a trade. Even at this stage of my life & career I am learning some things the hard way. For instance, don't feel tempted but follow the code. Act like a robot without emotions, follow the code, keep it simple (KIS).

Sending you a carton full of home made cookies, have fun :-)
Hello World!
  • #18,468
  • Oct 31, 2014 12:20pm Oct 31, 2014 12:20pm
Quoting Samsamall
Please be careful. We should not trade at this time because today is Friday, and the last day of October. The price could be go back to $1178 (first support level of this month). I think we should wait for next week to see where the price close. Got 700 pips today. {image}
bravooo
  • #18,469
  • Oct 31, 2014 12:21pm Oct 31, 2014 12:21pm
Quoting Landline
{quote} I cant deny that I am tempted to try 1 more long attempt at the moment, the hourly chart is starting to develop for me, but I thought the same thing previously and that got chewed up. Forcing myself to sit on my hands now.....that powerful drop earlier has checked me from taking a trade, I'll wait some more and see whether more clues reveal themself before jumping in
Even I feel tempted, but, this time, I am strictly going to follow the code. Let CCBH1 qualify & then I'll place a long call.
Hello World!
  • #18,470
  • Oct 31, 2014 12:23pm Oct 31, 2014 12:23pm
Quoting goldstreet
CT. Should we call it a day now or not yet?
I was away having very good quality time with a loved one, just got back.
Hello World!
  • #18,471
  • Oct 31, 2014 12:25pm Oct 31, 2014 12:25pm
Quoting ClockTrader
{quote} {quote} SL @ 1282-84 depending on your MM. I will definitely try longs from 1250 areas IF price reaches there & IF CCBH1 qualifies.. WHen I was a newbie, I blew a couple of accounts, I didn't cry then, now I'm way mature than 8 yrs back. {image}
This would have closed @ BE IF profit was not taken.

Call to short from: 1274
Hello World!
  • #18,472
  • Oct 31, 2014 12:27pm Oct 31, 2014 12:27pm
Quoting Spec_And
Looks like the bottom has fallen out, unless 1180 is reclaimed this will sink faster than a boulder in quick sand.
Seeing you here after quite some time. Hope you have been doing great!
Hello World!
  • #18,473
  • Oct 31, 2014 1:06pm Oct 31, 2014 1:06pm
Wish you all a great weekend full of Clean-Greens!

PS: It was a tough week to trade, nevertheless, all these things are part & parcel of the game. Trade Safe.

PPS: On a broad level on a multi-year trend I remain bearish, there may be 1 exceptional year which may not create a lower low.
Hello World!
  • #18,474
  • Oct 31, 2014 1:09pm Oct 31, 2014 1:09pm
in 4H chart, it formed a nice bottom twezzer candles!
  • #18,475
  • Oct 31, 2014 1:17pm Oct 31, 2014 1:17pm
I am scalping long @1167. I moved SL to BE at this moment, free trade.. We will see..
  • #18,476
  • Oct 31, 2014 1:45pm Oct 31, 2014 1:45pm
There is such thing called Fibonacci Retracement.
He told me that he will reverse XAU to 50% level. which is 1205.
He promised.
have a good weekend folks.
always draw trendlines
  • #18,477
  • Oct 31, 2014 5:58pm Oct 31, 2014 5:58pm
Has anyone of you tried to trade news on gold?
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  • #18,478
  • Nov 1, 2014 3:44am Nov 1, 2014 3:44am
Skyhok, CT, ddinov, kuroro001 and karpa,

Any takes on what will happen Monday morning when Asia wakes up?

A drop from 1240+ to 1169 over the past few weeks is making me wonder if the final wave for gold to bottom is next week or whether another bounce back up to 12060+ and later a sub-1000 dive is needed before a bottom establishes. Or have we already seen a bottom? Many gold-bugs suggest it may go down further as the US economy is showing better numbers. Can you guys share some thoughts?

Thanks!
  • #18,479
  • Nov 1, 2014 7:29am Nov 1, 2014 7:29am
What’s the worst-case scenario for silver?


Bear markets do not end when record numbers of people own the asset in question. Bull markets end that way. Few people owning the asset means there are more potential buyers out there. A lot of owners means there are a lot of potential sellers.
If those people holding silver in ETFs decide to sell, they could seriously hurt the price – just as the introduction of the ETFs brought in a lot of buying pressure in the late 2000s.
For all of silver’s volatility, its chart is actually quite symmetrical. This chart shows silver since 1970. From the 1980 high ($50 per ounce intraday) to 2011 is an enormous saucer shape.

There are pivotal prices to which it keeps returning – $50 is the high (of 1980 and 2011). Other key price points include $4, $8, $10, $15, the $17-22 range, $26 and $36.



There’s a chance that Monday’s price of $15.5 is the low. But I don’t believe the rout ends until ETF holdings are much lower.
I think silver will hit $15 before it is over. If that doesn’t hold, $12.50 and $10 are the next lines in the sand.
We could even see $8. If we do, just about every silver mine in the world that’s still left would be loss-making.
  • #18,480
  • Nov 1, 2014 7:39am Nov 1, 2014 7:39am
What about gold?

The problem I have with gold is that the $1,180 number is approaching again. That was the point at which gold found support twice in 2013. I really don’t want to see that level tested again. I’m worried it won’t hold.

If it fails, the next line of support for gold is, as I see it, $1,050 – the 2008 high.
When I wrote my new year’s predictions piece, I suggested a low for the year of $1,050 and a high of $1,425. So far, the high has been $1,392. If $1,180 doesn’t hold, it might be that I’ve called the low.
After $1,050 the next big levels of price support for gold are $850 and $730. I would be surprised to see either. But you never know. Trends can go on for a long time – much
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