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  • #18,581
  • Nov 3, 2014 1:36pm Nov 3, 2014 1:36pm
Quoting Karpa
any time soon they'll be saying PRECIOUS USD
time running out for USD. China will back its money with gold. Uncle sam will have no option but to go to war with China. China is not IRAQ or Afghanistan.
  • #18,582
  • Nov 3, 2014 1:49pm Nov 3, 2014 1:49pm
Hello all

For what it's worth, I don't see any signs of this drop reversing just yet, either fundamentally or technically.

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If it drops through the demand zone on the daily circa 1155 (below)

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I'm not sure anything will stop it until the demand on the weekly @ 1096 (below)
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and if that zone clears, it could well drop a lot further. to the demand on the monthly @ 917.5

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Of course anything can happen... so trade carefully.
  • #18,583
  • Nov 3, 2014 2:09pm Nov 3, 2014 2:09pm
Well, the stock market has topped (17400 will not be broken again) and will be crashing within 1-2 weeks, and this could potentially push gold up again
  • #18,584
  • Nov 3, 2014 2:57pm Nov 3, 2014 2:57pm
Quoting hollowhead
Hello all For what it's worth, I don't see any signs of this drop reversing just yet, either fundamentally or technically. {image} If it drops through the demand zone on the daily circa 1155 (below) {image} I'm not sure anything will stop it until the demand on the weekly @ 1096 (below) {image} and if that zone clears, it could well drop a lot further. to the demand on the monthly @ 917.5 {image} Of course anything can happen... so trade carefully.
Dear Hollowhead,
What's your system of analysis, I mean what do you use to analyse, only PA?
Regards
  • #18,585
  • Nov 3, 2014 3:25pm Nov 3, 2014 3:25pm
Quoting Kouroushi
{quote} Dear Hollowhead, What's your system of analysis, I mean what do you use to analyse, only PA? Regards
Hi Kourushi, I look for momentum ie engulfing bars, pin bars, breaks from consolidation. BUT, I'm a firm believer that the entry is not that important. It's the exit that defines success and failure, not the entry.
EDIT: I should say that I look for weekly supply/demand areas to start closing trades, but I am trying not to close them all, only the smallest ones and leaving the larger ones to run.
  • #18,586
  • Nov 3, 2014 3:34pm Nov 3, 2014 3:34pm
Quoting Falling
Well, the stock market has topped (17400 will not be broken again) and will be crashing within 1-2 weeks, and this could potentially push gold up again
You could be right Falling, but then again they said it would never break 10,000!!
  • #18,587
  • Nov 3, 2014 3:42pm Nov 3, 2014 3:42pm
Quoting goldfinger
{quote} time running out for USD. China will back its money with gold. Uncle sam will have no option but to go to war with China. China is not IRAQ or Afghanistan.
lol check this http://www.globalresearch.ca/putin-f...dollar/5375866
  • #18,588
  • Nov 3, 2014 3:47pm Nov 3, 2014 3:47pm
Quoting hollowhead
{quote} Hi Kourushi, I look for momentum ie engulfing bars, pin bars, breaks from consolidation. BUT, I'm a firm believer that the entry is not that important. It's the exit that defines success and failure, not the entry. EDIT: I should say that I look for weekly supply/demand areas to start closing trades, but I am trying not to close them all, only the smallest ones and leaving the larger ones to run.
impressing, nice job,
What's your trade TF? and do you only focus on Gold?
One last question? do you see a pullback to break above 1240 (last swing high)?
  • #18,589
  • Nov 3, 2014 4:44pm Nov 3, 2014 4:44pm
There's still hope for long-term Bullish Gold. In fact, the last major fall of the Metal may have been orchestrated by the Big Dogs to anticipate Swiss Gold Referendum. The voting would increase Physical Demand by 10% yearly for next 5 years should the Public vote 'Yes' for Switzerland’s official to increase its reserves in Gold to 20%.

The Referendum's D day is on November 30, 2014. Related article is here.
  • #18,590
  • Nov 3, 2014 7:44pm Nov 3, 2014 7:44pm
Quoting Karpa
{quote} lol check this http://www.globalresearch.ca/putin-f...dollar/5375866
wow, question is will people trust closet communist country. Boy this is scary.
  • #18,591
  • Nov 3, 2014 8:18pm Nov 3, 2014 8:18pm
Quoting goldfinger
{quote} time running out for USD. China will back its money with gold. Uncle sam will have no option but to go to war with China. China is not IRAQ or Afghanistan.
China wont back their currency with Gold... pointless. they are exporter not importer, by backing their currency with Gold, they are creating deflation which will limit the export balance. kinda of pointless when they can increase or decrease their interest rate to have the same effect... why should they switch to Gold currency which is harder to control?

Uncle Sam do not need to go to war with China... infact USA had being reducing their army size for the past few decades after world war 2... if they want to have wars we will see a sharp increase of size for the army which we dont...

think its time for you to read world history and countries economics and not just Gold bug webpage which spout random baseless news...
  • #18,592
  • Nov 3, 2014 9:21pm Nov 3, 2014 9:21pm
Quoting hollowhead
{quote} Hi Kourushi, I look for momentum ie engulfing bars, pin bars, breaks from consolidation. BUT, I'm a firm believer that the entry is not that important. It's the exit that defines success and failure, not the entry. EDIT: I should say that I look for weekly supply/demand areas to start closing trades, but I am trying not to close them all, only the smallest ones and leaving the larger ones to run.
Interesting..
Hello World!
  • #18,593
  • Nov 4, 2014 12:57am Nov 4, 2014 12:57am
Quoting ClockTrader
{quote} Moved the SL to 1160 in order to mitigate risk. Typos: > @1267 Testing longs with with SL @ 1254 ----> @1167 Testing longs with with SL @ 1154
I can't find any reason to go short from here.

I'll stick with test longs, SL back to 1154 to cover volatility today.

Awaiting volatility for further action, hope to get it in loads latest by US session ahead.

TRADE SAFE!
Hello World!
  • #18,594
  • Nov 4, 2014 1:26am Nov 4, 2014 1:26am
Quoting ClockTrader
{quote} I can't find any reason to go short from here. I'll stick with test longs, SL back to 1154 to cover volatility today. Awaiting volatility for further action, hope to get it in loads latest by US session ahead. TRADE SAFE!
The reason that it keep going further down. Why? Coz traders taking it down. Hope it will not reach your sl before us session.
  • #18,595
  • Nov 4, 2014 1:52am Nov 4, 2014 1:52am
Quoting wibie g
There's still hope for long-term Bullish Gold. In fact, the last major fall of the Metal may have been orchestrated by the Big Dogs to anticipate Swiss Gold Referendum. The voting would increase Physical Demand by 10% yearly for next 5 years should the Public vote 'Yes' for Switzerland’s official to increase its reserves in Gold to 20%. The Referendum's D day is on November 30, 2014. Related article is here.
Hi
Your facts are right but there is one point your are missing....even if a yes vote win on 11/30, Referéndum is not going to be applied ever, because all of 26 cantons have to ratify it, and ALL the major parties in Switzerland are against it...there is no way this is going to happen...as i stated before, it should be a good opportunity to enter short if a yes vote win (i have serious doubt about it, but it´s a posible outcome)..
  • #18,596
  • Nov 4, 2014 2:05am Nov 4, 2014 2:05am
Quoting goldstreet
{quote} The reason that it keep going further down. Why? Coz traders taking it down. Hope it will not reach your sl before us session.
Looks like this will hit 1160 by NY morning.
Hello World!
  • #18,597
  • Nov 4, 2014 2:42am Nov 4, 2014 2:42am
Quoting goldfinger
{quote} wow, question is will people trust closet communist country. Boy this is scary.
Once America has a regime change and puts its big boy pants back on I doubt there will be a big run to rubles.
  • #18,598
  • Nov 4, 2014 2:43am Nov 4, 2014 2:43am
Quoting ClockTrader
{quote} I can't find any reason to go short from here. I'll stick with test longs, SL back to 1154 to cover volatility today. Awaiting volatility for further action, hope to get it in loads latest by US session ahead. TRADE SAFE!

Famous last words lol
  • #18,599
  • Nov 4, 2014 2:44am Nov 4, 2014 2:44am
Quoting goldstreet
{quote} The reason that it keep going further down. Why? Coz traders taking it down. Hope it will not reach your sl before us session.
it's going down because the economic news in the world sucks!
  • #18,600
  • Nov 4, 2014 5:16am Nov 4, 2014 5:16am
Bulls for gold are strong today. Looking for a TP at 1176.9!
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