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Only Gold!

  • #18,561
  • Nov 3, 2014 8:54am Nov 3, 2014 8:54am
IMHO analysis is very simple at this point:
- We're in a downtrend;
- Currently we have a hammer on daily

Conclusion:
Waiting for a better level to short

Cheers
  • #18,562
  • Nov 3, 2014 8:56am Nov 3, 2014 8:56am
Quoting Karpa
IMHO analysis is very simple at this point: - We're in a downtrend; - Currently we have a hammer on daily Conclusion: Waiting for a better level to short Cheers
As I can see, closest to hammer is on H1, daily is closest to cross
Mining gold
  • #18,563
  • Nov 3, 2014 9:05am Nov 3, 2014 9:05am
Quoting goldstreet
{quote} ok ct I agree. Now for me I would like to hear some expactations. Where we are heading? Are we going to see gold at 1050?
Of course Yes, we will see 1080 IMHO. However, the road is not going to be straight & smooth way down IMHO.


For now, before heading way down to 1140-50 area, it would be ideal to kill the sellers first, in other words a bounce looks necessary.

For further intraday view, I need some volatility on my charts & right now I can see it on M5

IF this breaks the 1160-65 range, that would pave the way to South IMHO.

PS: For people who don't like my views are free to ignore me. I don't want a pissed off member coming on board saying, he lost coz he followed me :-)
Hello World!
  • #18,564
  • Nov 3, 2014 9:12am Nov 3, 2014 9:12am
theres nothing specific about gold itself in this dragdowns..

Gold merely follows eur/usd and aus/usd!!
always draw trendlines
  • #18,565
  • Nov 3, 2014 9:24am Nov 3, 2014 9:24am
I don't have a hammer on the daily.

The selloff Friday was a beautiful break of the support at 1182 and I would have expected a retracement back up before another selloff. If not then it's telling me there are very few buyers or traders taking profit around.

On the monthly though we are approaching a possible end to this multi-year downtrend if you follow Bollinger bands. We are just above the lower BB at 1139 which is 200 pips away (just a stone's throw on the monthly). If you check any timeframe this often is the end to the trend.

I'm expecting another selloff in the coming days to that area and then a massive bounce.

Just my 2 ounces.
Enter Signature
  • #18,566
  • Nov 3, 2014 9:25am Nov 3, 2014 9:25am
Quoting ClockTrader
{quote} Of course Yes, we will see 1080 IMHO. However, the road is not going to be straight & smooth way down IMHO. For now, before heading way down to 1140-50 area, it would be ideal to kill the sellers first, in other words a bounce looks necessary. For further intraday view, I need some volatility on my charts & right now I can see it on M5 IF this breaks the 1160-65 range, that would pave the way to South IMHO. PS: For people who don't like my views are free to ignore me. I don't want a pissed off member coming on board saying, he lost coz he...
In normal circumstances, after that black vol bar, the price should have come down to 1165 first before bouncing, BUT, it did not.

This could possibly mean that the bounce is in hurry.

​
Risk Disclaimer

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results for example Golden Seasons. The high degree of leverage can work against you as well as for you. You can lose all the money you have invested.
Attached Image (click to enlarge)
Click to Enlarge Name: ss1.PNG Size: 14 KB
Hello World!
  • #18,567
  • Nov 3, 2014 9:29am Nov 3, 2014 9:29am
Quoting ClockTrader
{quote} Of course Yes, we will see 1080 IMHO. However, the road is not going to be straight & smooth way down IMHO. For now, before heading way down to 1140-50 area, it would be ideal to kill the sellers first, in other words a bounce looks necessary. For further intraday view, I need some volatility on my charts & right now I can see it on M5 IF this breaks the 1160-65 range, that would pave the way to South IMHO. PS: For people who don't like my views are free to ignore me. I don't want a pissed off member coming on board saying, he lost coz he...
the road down s rough indeed
  • #18,568
  • Nov 3, 2014 9:30am Nov 3, 2014 9:30am
Quoting Karpa
IMHO analysis is very simple at this point: - We're in a downtrend; - Currently we have a hammer on daily Conclusion: Waiting for a better level to short Cheers
Better said:
Daily
Attached Image

H4:
Attached Image

H1:
Attached Image
  • #18,569
  • Nov 3, 2014 9:31am Nov 3, 2014 9:31am
Quoting ClockTrader
{quote} In normal circumstances, after that black vol bar, the price should have come down to 1165 first before bouncing, BUT, it did not. This could possibly mean that the bounce is in hurry. ​ Risk Disclaimer Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results for example Golden Seasons. The high degree of leverage can work against you as well as for you. You can lose all the money you have invested. {image}
Hi CT,
Do see this bounce breaching 1200 anytime soon?
Yours
  • #18,570
  • Nov 3, 2014 9:32am Nov 3, 2014 9:32am
Whatever anyone thinks.........it cannot be changed.......Gold was always a precious metal and it will always remain that...if know little bit science you will know about it ....even it goes down to 700...Its the fiat currency owners who can deny this to cover their corruption.


Main subject is that its a paper market,nothing can be said depending on this bulshit manipulated market,
Its better to go with them and make money,if you dont go with them you will lose your money...............
Nothing Is Certain In The Universe
  • #18,571
  • Nov 3, 2014 9:36am Nov 3, 2014 9:36am
Quoting XediAnakin
Whatever anyone thinks.........it cannot be changed.......Gold was always a precious metal and it will always remain that...if know little bit science you will know about it ....even it goes down to 700...Its the fiat currency owners who can deny this to cover their corruption. Main subject is that its a paper market,nothing can be said depending on this bulshit manipulated market, Its better to go with them and make money,if you dont go with them you will lose your money...............
Fair..
Hello World!
  • #18,572
  • Nov 3, 2014 9:37am Nov 3, 2014 9:37am
Quoting fagwalawa
{quote} the road down s rough indeed
IF the bounce is big enough & support around 1145-60 is very good it could very long time to reach 1080.
Hello World!
  • #18,573
  • Nov 3, 2014 9:38am Nov 3, 2014 9:38am
Quoting Kouroushi
{quote} Hi CT, Do see this bounce breaching 1200 anytime soon? Yours
The bounce could be vertical, IF so, 1200 is very close.

TRADE SAFE!
Hello World!
  • #18,574
  • Nov 3, 2014 9:40am Nov 3, 2014 9:40am
at some point physical supply will dry up at this kind of price,then the explosion will definitely happen,

miners had their days now is the time for the consumers,what is the problem???????????

buy more physical gold at the bottom,sell after 10 to 15 years later,dollar will fall within that time surely.
Nothing Is Certain In The Universe
  • #18,575
  • Nov 3, 2014 9:51am Nov 3, 2014 9:51am
Quoting XediAnakin
at some point physical supply will dry up at this kind of price,then the explosion will definitely happen, miners had their days now is the time for the consumers,what is the problem??????????? buy more physical gold at the bottom,sell after 10 to 15 years later,dollar will fall within that time surely.
the only problem is most of us newbies trading micro accounts because we cannot afford bigger ones not to mention buying physical gold
otherwise yeahh i like your plan
  • #18,576
  • Nov 3, 2014 10:10am Nov 3, 2014 10:10am
IMO, the bull is still strong, but the reason that caused gold to drop a lot these few days is because of good data from US. I think most people don't expect gold to drop as low like this. Look at the chart 1Day we can see increasing in volume of demand on 28th compared 27th, and the volume is still higher compared to 31th October.

Attached Image (click to enlarge)
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As the price is too low since Sep 2010, and now everyone is watching each other. They have very doubtful question "is it possible that gold will be cheaper than this?" Golden season is coming, so how can gold become cheaper????

Look at the chart 5M below, event though the green data of ISM Manufacturing still cannot push the price much lower. So I think many people are waiting to jump to bullish ship rather than bearish.

Attached Image (click to enlarge)
Click to Enlarge Name: gold-m5.gif Size: 57 KB


Maybe selling gold now is risky. Me too, I would choose to go long rather than short, but still watching if the bear or bull who will take control in hours later.

It's just my personal analysis, please don't take it seriously because I'm still a junior trader. Sorry for my bad English.
Trade at your own risk. Don't follow one's opinion.
  • #18,577
  • Nov 3, 2014 10:18am Nov 3, 2014 10:18am
technically we are just above the major TL (lows of 2005, 2008, 2014)..if you believe in it, 1156/1155 is important this week...
  • #18,578
  • Nov 3, 2014 10:33am Nov 3, 2014 10:33am
FF's schedule for USD, this week
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  • #18,579
  • Nov 3, 2014 10:45am Nov 3, 2014 10:45am
Boring movement. I dont see any action today.
  • #18,580
  • Nov 3, 2014 1:27pm Nov 3, 2014 1:27pm
Not long till the next major leg down...
Trade with what you see, not what you feel.
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