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  • #21,281
  • Jan 13, 2015 1:59am Jan 13, 2015 1:59am
Quoting Greg.Barabas
Triangle on a daily chart with a false breakdown on the downside. Is the downtrend already over ? {image}
Check last 30 yr trend.. It appears very Bullish every Jan..
Hello World!
  • #21,282
  • Jan 13, 2015 2:10am Jan 13, 2015 2:10am
Quoting nakata11
{quote} I would prefer to buy around 1233 s/l 1228 t/p 1250

missed by 20 cents. shall stay aside and see how it develops
  • #21,283
  • Jan 13, 2015 2:11am Jan 13, 2015 2:11am
Attached Image (click to enlarge)
Click to Enlarge Name: g.png Size: 84 KB
careful could be a good time to pp, fail then it could sell off sharpish , but carry on to the above x
  • #21,284
  • Jan 13, 2015 2:13am Jan 13, 2015 2:13am
congrats to all WHO longed this, i didnt think it could pass 1230 with fundementals but it is forex, everything can happen.
  • #21,285
  • Jan 13, 2015 2:20am Jan 13, 2015 2:20am
I'm looking for a strong short today, even though weekly could head to 1300. We have to be careful. Max is 10 dollars SL here
COT: The precious data ignored
  • #21,286
  • Jan 13, 2015 2:41am Jan 13, 2015 2:41am
I took my chances with a small short on silver at 16.9 since i missed a good movement on crude
  • #21,287
  • Jan 13, 2015 3:16am Jan 13, 2015 3:16am
Chancing a short on Gold, for a tp near 1212/14
COT: The precious data ignored
  • #21,288
  • Jan 13, 2015 4:03am Jan 13, 2015 4:03am
Reason it's going up is because it's pure manipulation to screw over the shorts before the next down move. That is the actual reason. Technical reason would be 1180 pivotal point holding 1000x + daily and weekly momentum to the upside. I believe we are close to the end of it. And like I said, once it's done being artificially propped up, it's going to drop like a hammer.
  • #21,289
  • Jan 13, 2015 4:13am Jan 13, 2015 4:13am
im fairly new but there are reasons for gold rise - markets are bit risk averse at the moment, dollar going strong, too strong in my opinion on back of all othe majors being in recession - but market know dollar cant keep its run - capital is hedging with gold, knowing snp falls are a sign of things to come

not to mention russia hedging its oil revenue losses via gold buying

who else is doing this

im learning some lessons about markets fast - the biggest lesson has been the most obvious things are most likely to be true
  • #21,290
  • Jan 13, 2015 4:22am Jan 13, 2015 4:22am
Quoting Ck87
Reason it's going up is because it's pure manipulation to screw over the shorts before the next down move. That is the actual reason. Technical reason would be 1180 pivotal point holding 1000x + daily and weekly momentum to the upside. I believe we are close to the end of it. And like I said, once it's done being artificially propped up, it's going to drop like a hammer.
Just go with the flow, do not chase it. Market is always right

I agree about the drop, below 1000, maybe even 700/800 monthly basis.

So i'm chancing shorts with stops in case it decide to break higher towards 1300
COT: The precious data ignored
  • #21,291
  • Jan 13, 2015 4:32am Jan 13, 2015 4:32am
Quoting Ck87
Reason it's going up is because it's pure manipulation to screw over the shorts before the next down move. That is the actual reason. Technical reason would be 1180 pivotal point holding 1000x + daily and weekly momentum to the upside. I believe we are close to the end of it. And like I said, once it's done being artificially propped up, it's going to drop like a hammer.
Its all manipulated on the basis of SLs.. IMO, it'll go where more SLs are.. Why would it go where loads of TPs are? How will the exchange pay? Remember one's profit has to come from another's loss.

Yea, the top of this month can sustain not only for 6 months.. but maybe many years to come..
Hello World!
  • #21,292
  • Edited 5:43am Jan 13, 2015 5:32am | Edited 5:43am
I totally disagree with manipulation, its price action and supply and demand and fibs, markets are not manipulated over the long term in terms of days and weeks , it cant be, there are more buyers than sellers or a lot of traders took profit at the lows made. Manipulation are short lived spikes. These moves are pure supply and demand. I called the lows well before we got there, now we are at a weekly level with a daily supply zone nested inside, it either holds or it breaks, personally with it being the first touch of this daily and weekly area price will bounce down. We can all say price will hit 700 because monthly lows are located there but really? Mining break even for gold is 1200 approx, for gold to hit 700 do you know how many mines would close? If this was the case there would be a lot less metal available to buy, this would then create a huge demand for the metal. As I said before, at these levels you cannot use 1 or 4 hour charts to base price action. Yesterday I called the long to the area of 1244 -1255 area then bounce, it was not a guess my take profits were hit in the night while I slept, shorts have been actioned now

The US index is at monthly highs, this is telling, watch the index if price breaks and the false US economy keeps getting stronger this will weaken gold but the US economy is in trouble very big trouble and the dollar in my opinion will plummet.

You can print paper you cant print physical gold its a resource as is silver - a finite one!

Gold and silver usage is being applied to more and more of the things we use daily, gadgets that were not used even 10 years ago, the more something is needed the more stable the price will be, every electronic device has gold or silver in it, solar panels are now using silver, gold to 1000 who knows but in my opinion not a chance, but wow if it did what a long position that would be up to 1900 again....
  • #21,293
  • Jan 13, 2015 5:37am Jan 13, 2015 5:37am
Quoting iaveight
for gold to hit 700 do you know how many mines would close?1
Everyone thought the same for crude...
  • #21,294
  • Jan 13, 2015 5:45am Jan 13, 2015 5:45am
Quoting auther
{quote} Everyone thought the same for crude...
Crude same thing supply and demand my friend just look at the bigger charts....Crude drop last time was around the time of the last economic problems in 2007 2008 - guess we will see. You can see the all time highs with crude in 2007 then a rally up, did it hit the highs again (no) monthly supply was in control and its been pushed back to a monthly level where the move started. For Gold to keep dropping the USD would have to keep strengthening.

One other thing to take note of in my opinion, what has gold done in the last year 2014 , it stayed stable, look at where price was at the end of 2013 gold held its value over the last year and compared to other currencies its gone way up
  • #21,295
  • Jan 13, 2015 5:53am Jan 13, 2015 5:53am
  •  Kah
  • | Joined Jun 2012 | Status: Patience is the Key to Success! | 150 Posts
I am on a trip with my family and as I checked the PA, I was shocked but happy as every peak is a possible ility of making more money. I would not be shifting my view from bearish to bullish.

I completely agree to what CT has said. This top may sustain for long.

A lot of stops being hunted down and bounce followed. This is how they make money. I have open positions from 1218 and I would add.more till it is under 1260.

Cheers,
KAH
  • #21,296
  • Jan 13, 2015 6:05am Jan 13, 2015 6:05am
Quoting Kah
I am on a trip with my family and as I checked the PA, I was shocked but happy as every peak is a possible ility of making more money. I would not be shifting my view from bearish to bullish. I completely agree to what CT has said. This top may sustain for long. A lot of stops being hunted down and bounce followed. This is how they make money. I have open positions from 1218 and I would add.more till it is under 1260. Cheers, KAH

nice !!!!
  • #21,297
  • Jan 13, 2015 6:19am Jan 13, 2015 6:19am
Quoting Jamil7354
Elliottwave Vs Fibonacci {image} {image}



Attached Image (click to enlarge)
Click to Enlarge Name: gold monthly fib.JPG Size: 85 KB
  • #21,298
  • Jan 13, 2015 7:41am Jan 13, 2015 7:41am
Quoting Kah
I am on a trip with my family and as I checked the PA, I was shocked but happy as every peak is a possible ility of making more money. I would not be shifting my view from bearish to bullish. I completely agree to what CT has said. This top may sustain for long. A lot of stops being hunted down and bounce followed. This is how they make money. I have open positions from 1218 and I would add.more till it is under 1260. Cheers, KAH
You can still hold short if you are going to hold your positions over weeks/months and manage your margin level well. Yes, down trend is not over from daily time frame yet unless it breaks through 1260. However this could be very misleading to scalpers/newcomers as these few days shorts are obviously not the right choices.
For those who plan to long at this point, please beware of retrace from high too.
Cheers.
  • #21,299
  • Jan 13, 2015 7:52am Jan 13, 2015 7:52am
  •  Kah
  • | Joined Jun 2012 | Status: Patience is the Key to Success! | 150 Posts
Bro,

I am not a pro but I am sure these tops are not sustainable over the longer term. Even 1260 sounds unrealistic to me but if it happens, I would be the first one to shoot a short and start building positions and get ready for the descend.

KAH
  • #21,300
  • Jan 13, 2015 8:47am Jan 13, 2015 8:47am
Physical Gold follows Forex Gold prices.. there is otherwise no connection between virtual markets & Physical Gold. All the buys/sells are happening on traders' computers, broker's servers & Forex servers.. period.

How can you relate Gold mining taking place with Forex markets? except misleading news.. PA only appears to be following news.. that too sometimes.. half of the time news traders are wondering.. how? why?

Quoting iaveight
I totally disagree with manipulation, its price action and supply and demand and fibs, markets are not manipulated over the long term in terms of days and weeks , it cant be, there are more buyers than sellers or a lot of traders took profit at the lows made. Manipulation are short lived spikes. These moves are pure supply and demand. I called the lows well before we got there, now we are at a weekly level with a daily supply zone nested inside, it either holds or it breaks, personally with it being the first touch of this daily and weekly area...
Hello World!
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