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Only Gold!

  • #18,501
  • Nov 2, 2014 6:58am Nov 2, 2014 6:58am
Quoting griffinssoul
{quote} Mact4! Congrats on your analysis! Full credit to you and the other EW'ers. Yes, of course S&R is important as things happen there but they can change their nature as we saw... My crude estimate based on a Wave-5 extension is: Wave-5= 161.8 of Wave-1 implies target 1025
Sorry Griffinsoul. Just re-read my previous post and edited 'not' to "note"!

Yes, your target of 1025 sits nicely with the next S&R zone above 970. Not to say that this zone will necessarily hold, but could be a possible consolidation or reversal.
  • #18,502
  • Nov 2, 2014 7:03am Nov 2, 2014 7:03am
Quoting mact4
{quote} Sorry Griffinsoul. Just re-read my previous post and edited 'not' to "note"! Yes, your target of 1025 sits nicely with the next S&R zone above 970. Not to say that this zone will necessarily hold, but could be a possible consolidation or reversal.
Good point about Skyhoks' logarithmic chart - I had the same problem but its the natural thing to do for such a Huge TF... I'm still looking it over so much info! It's a piece of Art!
  • #18,503
  • Nov 2, 2014 7:42am Nov 2, 2014 7:42am
Quoting Arshamv
Really it is not a technical or fundamental case about gold these days! we are in the middle of an economic world war and the politicants guide the prices! look at the Usd/Rub ,oil and gold charts carefully! target is Russia and then Iran, big boys executed such a senario on mid of 80's and hit the Soviet Union's economy strongly, see it, two days ago Russia hiked the interest rate for supporting Ruble but immediately BoJ which is a branch of Fed acted contra of it, and only few hours Ruble could resistance! oil is down so Russia and Iran out come...
Very interesting post
will do research on this
Thanks Arshamv
  • #18,504
  • Nov 2, 2014 9:08am Nov 2, 2014 9:08am
The weekly chart below shows my take on the Gold market.

Good Luck!

Attached Image (click to enlarge)
Click to Enlarge Name: Gold Weekly 10 31 2014.PNG Size: 74 KB
  • #18,505
  • Nov 2, 2014 12:39pm Nov 2, 2014 12:39pm
Fibonaci Time Zone. The 0 and 1 lines are on the top of market, the days with highest price, and the 2 line are on the bottom of the market.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 157 KB
Trade at your own risk. Don't follow one's opinion.
  • #18,506
  • Nov 2, 2014 2:19pm Nov 2, 2014 2:19pm
Enough is enough man..
XAU starting new ABCD...heading to 1280 by the end of year.
No fundamentals will drag it down (only briefly)

to reach 1200 next week then break it gradually.
After holidays only Gold may head to 1100ish.

W1 Chart.
http://www.imagesup.net/?di=1141495951813
always draw trendlines
  • #18,507
  • Edited 3:29pm Nov 2, 2014 3:15pm | Edited 3:29pm
USD looking strong at the moment on Open.

Bearish for Gold.

Check out AUD/USD, normally strongly correlated with Gold.
Trade with what you see, not what you feel.
  • #18,508
  • Nov 2, 2014 3:40pm Nov 2, 2014 3:40pm
No predictions.

We have seen some strength come into the market. Strength, when it appears, usually appears on DOWN bars.

The trend is still down.

To get long(on the 60 min chart), we would want to see price trade above the order flow line and then move back towards it on low volume. We would also want Chart Mode to be Bullish, the price bars to be above the BPL, and the price bars to beBlue.
Attached Image (click to enlarge)
Click to Enlarge Name: ex2.jpg Size: 164 KB
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #18,509
  • Nov 2, 2014 5:43pm Nov 2, 2014 5:43pm
1161 coming up... Let's see if she holds.
Trade with what you see, not what you feel.
  • #18,510
  • Nov 2, 2014 5:59pm Nov 2, 2014 5:59pm
Retest of $1180-1190 before next leg down would be ideal
To live a successful life, we must lose our fear of being wrong
  • #18,511
  • Nov 2, 2014 6:10pm Nov 2, 2014 6:10pm
Quoting EatPIPs
Retest of $1180-1190 before next leg down would be ideal
I can see a test of 1170-1175 but that is maximum as will be sold into.

The bears have control, 1161 will be tested and probably fail..

In my opinion.. !!
Trade with what you see, not what you feel.
  • #18,512
  • Nov 2, 2014 6:23pm Nov 2, 2014 6:23pm
Quoting Basement
{quote} I can see a test of 1170-1175 but that is maximum as will be sold into. The bears have control, 1161 will be tested and probably fail.. In my opinion.. !!
Personally, wouldn't throw $1204 out the window yet.
To live a successful life, we must lose our fear of being wrong
  • #18,513
  • Nov 2, 2014 6:32pm Nov 2, 2014 6:32pm
But first the price has to get above 1170-1175-1179-1183
Trade with what you see, not what you feel.
  • #18,514
  • Nov 2, 2014 6:34pm Nov 2, 2014 6:34pm
Quoting Basement
But first the price has to get above 1170-1175-1179-1183
This is gold
To live a successful life, we must lose our fear of being wrong
  • #18,515
  • Nov 2, 2014 6:43pm Nov 2, 2014 6:43pm
Quoting EatPIPs
{quote} This is gold
Yes and it's bearish as f**k!
Trade with what you see, not what you feel.
  • #18,516
  • Nov 2, 2014 7:51pm Nov 2, 2014 7:51pm
@1267

Testing longs with with SL @ 1254

SL on the basis of DCB

Reason for long: CCBH1 on the basis of VVSA-H1 patterns supports a long call IF price climbs in the US session ahead.
Hello World!
  • #18,517
  • Nov 2, 2014 7:55pm Nov 2, 2014 7:55pm
Quoting ClockTrader
@1267 Testing longs with with SL @ 1254 SL on the basis of DCB Reason for long: CCBH1 on the basis of VVSA-H1 patterns supports a long call IF price climbs in the US session ahead.
IF I had enough patience, I would have waited till US session and see how it plays out.

BUT, IF I wanna 10 units of Gold, not a bad idea to start with 2 units right now for symbolic presence.
Hello World!
  • #18,518
  • Nov 2, 2014 7:56pm Nov 2, 2014 7:56pm
Ct - I've been reading this forum for about a year and I have to admit the whole time you have been trying to catch a falling knife.. You seem to be so caught up in gold seasons which don't even exist and trying to catch the bottom... I don't understand your mythology at all, god help anyone who listens to your advice I did and I lost.
Que Sera
  • #18,519
  • Nov 2, 2014 8:51pm Nov 2, 2014 8:51pm
Quoting Catempire
Ct - I've been reading this forum for about a year and I have to admit the whole time you have been trying to catch a falling knife.. You seem to be so caught up in gold seasons which don't even exist and trying to catch the bottom... I don't understand your mythology at all, god help anyone who listens to your advice I did and I lost.
I don't mind your view at all mate.

Anybody here has the freedom to criticize anyone including me. At the same time I have the freedom to post my view, good or bad or whatever.

On other note, why have you only been reading this thread? Why not post your analysis or positions? OR screenshots of your positions?

Why not be part of the community? Maybe you could help people who are following me and getting hurt? Come on, show us what you got?
Hello World!
  • #18,520
  • Nov 2, 2014 8:56pm Nov 2, 2014 8:56pm
looking for bounce from here I will add to my long above 1180 my sl now is 1161
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