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  • #19,161
  • Nov 17, 2014 7:19am Nov 17, 2014 7:19am
I´ll belive gold has to go to 1200-1210 first of all, then it may retrace to low 1100´s I heard speculations on 1050 by the end of the year, what do you guys think, what are targets?

I will consider buying gold at around 1176 if it does not hit 1200 level before doing so
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  • #19,162
  • Nov 17, 2014 7:31am Nov 17, 2014 7:31am
Quoting NWGstudent
I´ll belive gold has to go to 1200-1210 first of all, then it may retrace to low 1100´s I heard speculations on 1050 by the end of the year, what do you guys think, what are targets? I will consider buying gold at around 1176 if it does not hit 1200 level before doing so {image}
Hi NWGstudent, the first EW level for Wave-5 was hit last week and the 1050 estimate (or some range including this level) came up as a fifth wave extension (a 1.618 extension of Wave-1)... that number keeps coming up from very diverse sources... Mmmm...
  • #19,163
  • Nov 17, 2014 8:52am Nov 17, 2014 8:52am
...if it breaks down under 1182 you would imagine from the dumpling top type pattern it would go south...?
  • #19,164
  • Nov 17, 2014 8:57am Nov 17, 2014 8:57am
Quoting Rtm
Short small position here will add bigger short on the way down.
nice one..weekly close below 1162 would be a good one , and confirmation at end of November would be perfect..
  • #19,165
  • Nov 17, 2014 9:06am Nov 17, 2014 9:06am
Quoting elbert3
{quote} 86 now add 1192 target 1203
pp taken out looking 1174 long order on add 95 1239 target sl 1158
  • #19,166
  • Nov 17, 2014 9:07am Nov 17, 2014 9:07am
I think gold will continue going down until 1100. Been trying to break 1200 but the bull seem like lack of power.
  • #19,167
  • Nov 17, 2014 9:19am Nov 17, 2014 9:19am
Quoting be water
{quote} nice one..weekly close below 1162 would be a good one , and confirmation at end of November would be perfect..
OF the billions of people in the world, if you gave them the offer of cash USD in hand or a bar of gold I'd say over 51% would take the cash.

This is why the price of gold has dropped so much partially, and also why we have credit problems
All posts are my personal opinion
  • #19,168
  • Nov 17, 2014 9:31am Nov 17, 2014 9:31am
Quoting griffinssoul
...if it breaks down under 1182 you would imagine from the dumpling top type pattern it would go south...?
I am waiting for 1176 level to take long position with tigh SL expecting 1200-1210 before a retest of 1130 level, expecting it to break, im not taking shorts before 1200 levels are rejected.

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  • #19,169
  • Nov 17, 2014 9:33am Nov 17, 2014 9:33am
Quoting Rtm
{quote} OF the billions of people in the world, if you gave them the offer of cash USD in hand or a bar of gold I'd say over 51% would take the cash. This is why the price of gold has dropped so much partially, and also why we have credit problems
I am from the 49% who prefer Gold.
No guts, no glory
  • #19,170
  • Nov 17, 2014 9:41am Nov 17, 2014 9:41am
Quoting NWGstudent
{quote} I am waiting for 1176 level to take long position with tigh SL expecting 1200-1210 before a retest of 1130 level, expecting it to break, im not taking shorts before 1200 levels are rejected. {image}
...its a 38.2 retrace level but the PA on the 1H TF is not convincing to me... don't seem to be a consequence of routine PA... ?
  • #19,171
  • Nov 17, 2014 9:42am Nov 17, 2014 9:42am
Quoting elbert3
{quote} pp taken out looking 1174 long order on add 95 1239 target sl 1158
Dear e
Dear elbert, what does PP mean?
  • #19,172
  • Nov 17, 2014 9:43am Nov 17, 2014 9:43am
Quoting Rtm
{quote} OF the billions of people in the world, if you gave them the offer of cash USD in hand or a bar of gold I'd say over 51% would take the cash. This is why the price of gold has dropped so much partially, and also why we have credit problems
...perhaps you would take the cash fearing there is no gold in fort Knox?
  • #19,173
  • Nov 17, 2014 9:44am Nov 17, 2014 9:44am
Quoting mcgross
{quote}Dear e Dear elbert, what does PP mean?
partial position
  • #19,174
  • Nov 17, 2014 9:47am Nov 17, 2014 9:47am
Quoting mcgross
{quote}Dear e Dear elbert, what does PP mean?
on friday i had 1147 and 1161, i took the 47 off at 1187 and left the 61 trade on hoping to gt higher so i protected profit at 86 .

regards E
  • #19,175
  • Nov 17, 2014 10:00am Nov 17, 2014 10:00am
thanks, for the explanation griffin and elbert, really appriciate it.
  • #19,176
  • Nov 17, 2014 10:04am Nov 17, 2014 10:04am
for the last couple hours, it keeps testing 1189 and 1181...
  • #19,177
  • Nov 17, 2014 10:09am Nov 17, 2014 10:09am
Quoting elbert3
{quote} on friday i had 1147 and 1161, i took the 47 off at 1187 and left the 61 trade on hoping to gt higher so i protected profit at 86 . regards E
Ooops! Sorry elbert3, just use to calling it a partial but I think we mean the same thing?
  • #19,178
  • Nov 17, 2014 10:42am Nov 17, 2014 10:42am
Quoting abokwaik
{quote} I am from the 49% who prefer Gold.
Yes people who trade/invest, they would likely choose gold for obvious reasons!
All posts are my personal opinion
  • #19,179
  • Nov 17, 2014 10:51am Nov 17, 2014 10:51am
Quoting griffinssoul
{quote} ...perhaps you would take the cash fearing there is no gold in fort Knox?
Never before has gold seen as such a safe and long term reliable investment, been so talked down by central banks alike! It has been for a while and while the price is dropping the smart money is definitely positioning for the hedge on upcoming inflation that is inevitable. USD hike there rates? I highly doubt Yellen is gunna go for it! Seems like the global economy with exception of US and China are not suffering, but China still have a dovish monetary policy for its own problems and to keep it under control. But the US?! Just seems crazy too me and next thing we know they will following along with Japan and printing EVEN more money!
All posts are my personal opinion
  • #19,180
  • Nov 17, 2014 10:58am Nov 17, 2014 10:58am
ROFL Gold a good investment ? look at the averages it gives over real long term cycles ... not much better than any savings account whatsoever ... it has it's speculative spikes at times ... betting on those has nothing to do with investing ...
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