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  • #18,701
  • Nov 5, 2014 6:50am Nov 5, 2014 6:50am
Quoting hollowhead
{quote} He's he CT - this is an interesting level we're at but I remain bearish and adding shorts...
A couple of possible turning points:

1. In a few weeks for sure (on the basis of seasonal cycles)
2. Future Contracts expired in India today, maybe some bounce tomorrow or some early signs today.

IMHO

TRADE SAFE! Love & respect MM
Hello World!
  • #18,702
  • Nov 5, 2014 6:52am Nov 5, 2014 6:52am
Quoting Kelfhin
positive news will make a huge drop.. while the negative one doesnt make any move like yesterday and before
am with you on that
  • #18,703
  • Nov 5, 2014 7:17am Nov 5, 2014 7:17am
Quoting ClockTrader
{quote} A couple of possible turning points: 1. In a few weeks for sure (on the basis of seasonal cycles) 2. Future Contracts expired in India today, maybe some bounce tomorrow or some early signs today. IMHO TRADE SAFE! Love & respect MM
Thanks for the heads up CT.
  • #18,704
  • Nov 5, 2014 7:24am Nov 5, 2014 7:24am
i think its done..1138.
going up.
always draw trendlines
  • #18,705
  • Nov 5, 2014 7:26am Nov 5, 2014 7:26am
Quoting fagwalawa
{quote} am with you on that
or positive us data bring gold up.. i dont think i would believe fudamental on gold anymore
  • #18,706
  • Nov 5, 2014 7:35am Nov 5, 2014 7:35am
Quoting be water
{quote} 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)..

We shall see, mate...

Bloomberg's article today (11/5/2014):
"Prepare for Gold Rally If Swiss Bullion Referendum Passes"
  • #18,707
  • Nov 5, 2014 7:41am Nov 5, 2014 7:41am
Quoting wibie g
{quote} We shall see, mate... Bloomberg's article today (11/5/2014): "Prepare for Gold Rally If Swiss Bullion Referendum Passes"
The vote is only at the end of the month but any surveys showing a majority yes will have an impact...
  • #18,708
  • Nov 5, 2014 7:42am Nov 5, 2014 7:42am
My SR levelsl: 1162, 1138, 1126.

Without a exceedingly strong impetus today, I see gold retracing to 1160 before dropping to 1126 (with continued strong data)
  • #18,709
  • Nov 5, 2014 7:43am Nov 5, 2014 7:43am
Hi all,

The pin bar developing on the h4 looks promising enough to me, Im now long, s/l 1130....I'll add to that if the daily can form into one as well
  • #18,710
  • Nov 5, 2014 7:47am Nov 5, 2014 7:47am
Surprisingly nailed that move.

There was a notable behavioural shift from around 1140-ish and a fake out with the news. Hope some of you caught it too.

edit: stipulating that I'm out now. Recent falls are not enabling me to hold longs. Hopefully this marks the bottom-ish.
Corripe Cervisiam!
  • #18,711
  • Nov 5, 2014 7:48am Nov 5, 2014 7:48am
Quoting Landline
Hi all, The pin bar developing on the h4 looks promising enough to me, Im now long, s/l 1130....I'll add to that if the daily can form into one as well
Agreed, but I'm waiting for the candle close.
  • #18,712
  • Nov 5, 2014 7:50am Nov 5, 2014 7:50am
Quoting The Epoch
{quote} Agreed, but I'm waiting for the candle close.
  • #18,713
  • Nov 5, 2014 8:15am Nov 5, 2014 8:15am
Quoting wibie g
{quote} We shall see, mate... Bloomberg's article today (11/5/2014): "Prepare for Gold Rally If Swiss Bullion Referendum Passes"
Almost confirmed that Obama's party has lost control over both the Senate & the Congress...
This may have short, mid term negative impacts toward USD, and favorable for Gold.. Lets see..

See the latest results and news at Google here: http://goo.gl/FeqrnN
  • #18,714
  • Nov 5, 2014 8:42am Nov 5, 2014 8:42am
Quoting Landline
Hi all, The pin bar developing on the h4 looks promising enough to me, Im now long, s/l 1130....I'll add to that if the daily can form into one as well
Yea, the daily pin bar looks good, we shall have confirmation by tomorrow's Asian morning.
Hello World!
  • #18,715
  • Nov 5, 2014 9:09am Nov 5, 2014 9:09am
Quoting ClockTrader
{quote}
Quoting Landline
Hi all, The pin bar developing on the h4 looks promising enough to me, Im now long, s/l 1130....I'll add to that if the daily can form into one as well

Yea, the daily pin bar looks good, we shall have confirmation by tomorrow's Asian morning.
Not good enough unless this h4 closed +ve.
Think what they want you to think and do the opposite.
  • #18,716
  • Nov 5, 2014 9:32am Nov 5, 2014 9:32am
Quoting matishna
{quote} Not good enough unless this h4 closed +ve.
Hi M

Its a fair enough point you have made, however, ideal signals are not always present to make a decision to take a trade.

For me, the risk is reasonable to take it on at this moment when I consider other factors, a daily pb would just be icing on the cake of course, but they are rare enough as we know, so a balanced view instead based on several aspects gives me the necessary confidence to try the trade.

We will see I guess
  • #18,717
  • Nov 5, 2014 9:50am Nov 5, 2014 9:50am
Quoting Landline
{quote} Hi M Its a fair enough point you have made, however, ideal signals are not always present to make a decision to take a trade. For me, the risk is reasonable to take it on at this moment when I consider other factors, a daily pb would just be icing on the cake of course, but they are rare enough as we know, so a balanced view instead based on several aspects gives me the necessary confidence to try the trade. We will see I guess
Based on bar-patterns that form during reversals (BO), IF tomorrow & day after can sustain & price can climb, we can hope for a quick bounce rally at least.

IF your MM & strategy are good, even a $100 fall won't make a big dent on your account.

Lets not forget while stock markets can be easily manipulated by Big Banks & other Big Dogs, but its not easy to do the same with Forex markets.

With that said, its not easy to make living let alone killing from pairs like Gold particularly when multi-year trends points towards $825 in the long run (in about 4 yrs).
Hello World!
  • #18,718
  • Nov 5, 2014 9:59am Nov 5, 2014 9:59am
Quoting ClockTrader
{quote} Based on bar-patterns that form during reversals (BO), IF tomorrow & day after can sustain & price can climb, we can hope for a quick bounce rally at least. IF your MM & strategy are good, even a $100 fall won't make a big dent on your account. Lets not forget while stock markets can be easily manipulated by Big Banks & other Big Dogs, but its not easy to do the same with Forex markets. With that said, its not easy to make living let alone killing from pairs like Gold particularly when multi-year trends points towards $825 in the long run...
Agree.
Trade at your own risk. Don't follow one's opinion.
  • #18,719
  • Nov 5, 2014 9:59am Nov 5, 2014 9:59am
Quoting wibie g
{quote} We shall see, mate... Bloomberg's article today (11/5/2014): "Prepare for Gold Rally If Swiss Bullion Referendum Passes"
yes, but all these articles are missing the most important thing, means the Swiss voters aren’t voting on a law. They’re voting on instructions to the parliament to draft a law, in this case one governing the SNB’s gold holdings. Both a majority of the voters and a majority (sorry i said all of them on previous post, a mistake) of the country’s 26 cantons have to approve the initiative for it to pass.
Since all the parliamentary parties are against it (only a fraction of the smallest party is favourable) it is virtually imposible that a yes vote will be transformed in a law...i can understand that people don´t know that, but it´s incredible that supposedly "experts" and "journalist" don´t even mentioned that...
That´s why i was saying a yes vote will be a very good opportunity to short again the gold (on rebound i meant)
  • #18,720
  • Nov 5, 2014 10:05am Nov 5, 2014 10:05am
Quoting ClockTrader
but its not easy to do the same with Forex markets.
What?

Actually it is. In fact that is the first market central banks focus on.

Check:

AUD, NZ, EU, US and JP...

You'll find multiple examples over the last few decades of intervention for each of these countries in FX.
Corripe Cervisiam!
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