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  • #21,801
  • Jan 22, 2015 8:38am Jan 22, 2015 8:38am
Quoting ClockTrader
{quote} Let it descend a bit & see fellas around the world saying there is tough resistance @ 1300 area.. IMO, next time (most likely tomorrow) we see a burst into the North.. Boooom.... this resistance should blow up in pieces..
Not sure about the boost... this 1296-1305 area is going to be really tough on gold.... but the potential for one of those explosive momentum moves is here and going to be here like you're saying... I've been bearish on euro for soooo long and this is actually the first time i've bought some euros for a trade in a long time. I mean, you gotta think QE has been priced in (short term) ... It will go to 1.0 IMO. but too many people are joining this QE trade on both EU and GOLD. They will be punished. Just my 2 cents.
  • #21,802
  • Jan 22, 2015 8:39am Jan 22, 2015 8:39am
Quoting Ck87
{quote} 1305 might be a tough one to break..... we spent a lot of time around that one before coming down hard last year...
There are loads of Buy stops & SLs around each new level.. 1300 in this case.. that is the reason it takes a couple of attempts for price to fall / fly into new levels..

Check history & you'll agree..
Hello World!
  • #21,803
  • Jan 22, 2015 8:43am Jan 22, 2015 8:43am
Quoting ClockTrader
{quote} There are loads of Buy stops & SLs around each new level.. 1300 in this case.. that is the reason it takes a couple of attempts for price to fall / fly into new levels.. Check history & you'll agree..
Agree. They do a good job at that.
  • #21,804
  • Jan 22, 2015 8:45am Jan 22, 2015 8:45am
Now Badly seek a small Bottom Out on M15.. a perfectly timed one.. perhaps by NY evening.. fingers crossed..

Quoting Ck87
{quote} Not sure about the boost... this 1296-1305 area is going to be really tough on gold.... but the potential for one of those explosive momentum moves is here and going to be here like you're saying... I've been bearish on euro for soooo long and this is actually the first time i've bought some euros for a trade in a long time. I mean, you gotta think QE has been priced in (short term) ... It will go to 1.0 IMO. but too many people are joining this QE trade on both EU and GOLD. They will be punished. Just my 2 cents.
Hello World!
  • #21,805
  • Jan 22, 2015 8:52am Jan 22, 2015 8:52am
Quoting ClockTrader
Now Badly seek a small Bottom Out on M15.. a perfectly timed one.. perhaps by NY evening.. fingers crossed.. {quote}
IG went from 65% short on euro pre QE announcement to now 54% short post.... not a good sign for the euro... Big trouble tough to be long that currency it's going to 1.0
Notice silver at 200 ema on daily.... acting as resistance.
  • #21,806
  • Jan 22, 2015 8:52am Jan 22, 2015 8:52am
No shorts yet, m15/m30 is not strong enough. Same for Silver and Platinium, so i"m waiting
COT: The precious data ignored
  • #21,807
  • Jan 22, 2015 8:58am Jan 22, 2015 8:58am
I'm going to short gold when the following happens:

1. Oil price stabilises and starts to head north of USD50/bl
2. Copper price remains stable at USD2.5/lb
3. No sudden shock to SP500 - next reporting season with an appreciating USD may test corporate profits
4. ECB QE becomes part of the furniture
5. Greek elections over and no greek exit from EU.

Besides Oil price, I'd say within 3 weeks most the above uncertainties will be known. Take away uncertainty and take away the Gold price.

If the Fed raises rates, then investors will move to Yields over Gold, and the sell-off will increase.
  • #21,808
  • Jan 22, 2015 9:01am Jan 22, 2015 9:01am
Peak out on H1..
  • #21,809
  • Jan 22, 2015 9:04am Jan 22, 2015 9:04am
Quoting Ck87
{quote} IG went from 65% short on euro pre QE announcement to now 54% short post.... not a good sign for the euro... Big trouble tough to be long that currency it's going to 1.0 Notice silver at 200 ema on daily.... acting as resistance.
Like you said.. IG guys just follow the trend & when there is reversal they all get creamed.. any stats how right/wrong they are?
Hello World!
  • #21,810
  • Jan 22, 2015 9:04am Jan 22, 2015 9:04am
Quoting PariCovek
I'm going to short gold when the following happens: 1. Oil price stabilises and starts to head north of USD50/bl 2. Copper price remains stable at USD2.5/lb 3. No sudden shock to SP500 - next reporting season with an appreciating USD may test corporate profits 4. ECB QE becomes part of the furniture 5. Greek elections over and no greek exit from EU. Besides Oil price, I'd say within 3 weeks most the above uncertainties will be known. Take away uncertainty and take away the Gold price. If the Fed raises rates, then investors will move to Yields over...

Good stuff. Some things to keep an eye on, though it might be a bit longer than in the next 3 weeks, especially regarding Fed...though the Greek elections could have the biggest impact.
"The market can remain irrational longer than you can remain solvent"
  • #21,811
  • Jan 22, 2015 9:06am Jan 22, 2015 9:06am
Strong momentum building on H4... if this one fails look out... otherwise we could definitely retouch 1305 and go higher pretty easily.
  • #21,812
  • Jan 22, 2015 9:19am Jan 22, 2015 9:19am
Quoting ClockTrader
{quote} Like you said.. IG guys just follow the trend & when there is reversal they all get creamed.. any stats how right/wrong they are?
They go against the trend most the time... Nope.
Waiting for gold to do a retest now in 1305 area... let's see if it explodes.. highly likely we can get a big move now based on H4 momentum imo.
  • #21,813
  • Jan 22, 2015 9:21am Jan 22, 2015 9:21am
Quoting Ck87
{quote} They go against the trend most the time... Nope. Waiting for gold to do a retest now in 1305 area... let's see if it explodes.. highly likely we can get a big move now based on H4 momentum imo.
Check at other metals too. They all want to rise up. I'd wait. But still chance shorts higher
COT: The precious data ignored
  • #21,814
  • Jan 22, 2015 9:27am Jan 22, 2015 9:27am
Quoting kuroro001
{quote} Check at other metals too. They all want to rise up. I'd wait. But still chance shorts higher
Yeah.. tough environment for either side of the trade on gold. So many variables. US mkt, How gold will react to euro devaluation/dollar strength, etc.
  • #21,815
  • Jan 22, 2015 9:37am Jan 22, 2015 9:37am
12 pm NY approaching.. I hereby request the Bulls to take a breather..
Hello World!
  • #21,816
  • Jan 22, 2015 10:08am Jan 22, 2015 10:08am
I am new to gold. But I just feel these few hours will determine the big trend in day and week trend.
  • #21,817
  • Jan 22, 2015 10:35am Jan 22, 2015 10:35am
I'm too hoping and waiting for noon NYC. time so the Bulls can take a breaker

Quoting ClockTrader
12 pm NY approaching.. I hereby request the Bulls to take a breather..
  • #21,818
  • Jan 22, 2015 10:48am Jan 22, 2015 10:48am
As I can see, no one is taking nothing, bears are just sliced to peaces
Mining gold
  • #21,819
  • Jan 22, 2015 11:08am Jan 22, 2015 11:08am
Reloading longs on next pullback setup.

Looking for 1315-1320 by tomorrow.
To live a successful life, we must lose our fear of being wrong
  • #21,820
  • Jan 22, 2015 11:21am Jan 22, 2015 11:21am
Quoting manu3000
I'm too hoping and waiting for noon NYC. time so the Bulls can take a breaker {quote}
is there a reason why bull will take a break at 12pm NY? Lunch time?
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