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  • #22,261
  • Jan 14, 2013 6:54am Jan 14, 2013 6:54am
GC 240 - shown numerous times before

Looking to see breach AND SUPPORT above 1677 level. This line has been resistance numerous times before often with a spike away from it. So far on this approach there has been a lesser spike - this coupled with support arriving higher in the fork makes me watch for a breach....

beeb
Attached Image (click to enlarge)
Click to Enlarge Name: gc240.jpg Size: 136 KB
  • #22,262
  • Jan 14, 2013 6:59am Jan 14, 2013 6:59am
Quoting whatfx
my analysis suggests gold is on its way up next few weeks. i have set a pending long at 1671.
Can you expand on what your analysis actually is?

Thanks

beeb
  • #22,263
  • Jan 14, 2013 7:39am Jan 14, 2013 7:39am
Quoting whatfx
i got stopped out on the short for - 6 pips.

tbh i one of my charts went berserk and showed the wrong signals, this particular indicator was not working. me, foolishly without checking just went ahead with it. having had a tiresome day, wasnt thinking right.

anyway, no more shorts for the time being. pending long at 1671.

+40 pips on eu and gu so far today. going out for now.
I am glad you made a stop loss for that because it has reached 1675
  • #22,264
  • Jan 14, 2013 7:45am Jan 14, 2013 7:45am
hi every1
i started a shy long position into this daily candle.
will stop loss immediately if price goes >today's open, no matter what.
will try to understand if possible to add IF n When price > 1680 but i'm not actually so much confident this will happen, so the reason why the position is actually small.

target area 1710-1740 but this will be depending on many factors
will move stop loss @be if i see price going fast near 1700.
chart below for those who need.

meanwhile if interested.... GBP CHF is in a very interesting weekly/monthly area 1.47 till 1.4580 where we can find SNB building some interesting things.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_XAU_USD_Daily_snapshot.jpg Size: 77 KB
90% of traders use TA, indicators and prediction
  • #22,265
  • Jan 14, 2013 7:49am Jan 14, 2013 7:49am
Quoting fxtyrant
Fundamentally i dunno what you think but heres my view...
Silver and Gold is headed for a medium term bearishness because of the Ongoing Theme of a global recovery in 2013....
if the economy is on its recovery gold and silver would be dumped for riskier assets like equities and bonds that pays out dividends....

correct me if im wrong...
With all due respect, im not sure what global recovery you are talking about. As far as I remember pretty much all TOP10 economies had their economic growth forecasts slashed for 2013 in the last quarter of 2012.

Gold's main support a t the moment is QE programmes done by the FED, BOJ BOE and others. But there is something else, and albeit small at the moment inflation in China and EU printed higher than what was expected in the last readings. ( interestingly, EU inflation number came out when it seemed that gold would slide into the abyss and was at around 1626-30 level and since then it hasn't revisited that area.)

With regards to bonds, they are already at such low yields that there is hardly any room for going lower ( and hence bond prices higher), except maybe High yield sector.

And equities... i'm not even sure what's driving it up anymore except maybe a January effect.
  • #22,266
  • Jan 14, 2013 7:54am Jan 14, 2013 7:54am
Quoting whatfx
i got stopped out on the short for - 6 pips.

tbh i one of my charts went berserk and showed the wrong signals, this particular indicator was not working. me, foolishly without checking just went ahead with it. having had a tiresome day, wasnt thinking right.

anyway, no more shorts for the time being. pending long at 1671.

+40 pips on eu and gu so far today. going out for now.
Hmm...entry point to long at 1671 ....maybe not....hehe
  • #22,267
  • Jan 14, 2013 8:29am Jan 14, 2013 8:29am
Quoting lexazver
With all due respect, im not sure what global recovery you are talking about. As far as I remember pretty much all TOP10 economies had their economic growth forecasts slashed for 2013 in the last quarter of 2012.

Gold's main support a t the moment is QE programmes done by the FED, BOJ BOE and others. But there is something else, and albeit small at the moment inflation in China and EU printed higher than what was expected in the last readings. ( interestingly, EU inflation number came out when it seemed that gold would slide into the abyss and...
My biggest point of contention here is the question of equities. The population grows, and so with it the broader demand for goods and services. Depending on how far out of synch equities (inflation-wise) are with real demand in the investment community, but also the demand for the goods and services they provide...perhaps you are right that equities have no reason to rise.

On the other hand, short of some kind of plague or natural disaster, population pressures will ensure global economic growth in a general sense. And major companies are investing heavily in growing regions. This is not up for debate.

I think the boom bust cycle will continue and cautiously expect small gains in equities because as long as we have more middle class mouths to feed, companies will continue to provide goods and services. That said, I am not investing in equities myself because I do not have faith that such wagers will be safe until my retirement date rolls around. My meagre investments would probably be swallowed because we have booms and busts ahead.

Why do you expect equities to stagnate outside of the January effect? Do you believe equities are inflated? Are you predicting more doom and gloom? My perception is that this is all a sh!t show, and ranges and trading patterns have experienced seismic shifts since the crash. I do not believe this has anything to do with drops in real demand (fundamentally, apart from the ability to afford real estate, what has shifted in global demand?). I see it as part of a broader scheme to restructure public and private finances by a fortunate few. Though this sounds like a nutty conspiracy theory, a look at the history books reveals this perspective as pretty damn reasonable.
  • #22,268
  • Jan 14, 2013 8:53am Jan 14, 2013 8:53am
Quoting Wheels
My biggest point of contention here is the question of equities. The population grows, and so with it the broader demand for goods and services. Depending on how far out of synch equities (inflation-wise) are with real demand in the investment community, but also the demand for the goods and services they provide...perhaps you are right that equities have no reason to rise.

On the other hand, short of some kind of plague or natural disaster, population pressures will ensure global economic growth in a general sense. And major companies are investing...
I see where you coming from and I understand it. Let me just say at first that I dont really understand how equity is priced. I mean I know the theory but sometimes I just fail to understand some of the valuations, facebook with 100bn price tag being one of them.

As the population grows of course that creates natural demand for goods and services but it also puts presure on inputs and firms margins and if it doesnt then other players in the market will seek to exploit this higher demand by increasing supply and keeping prices at bay (lets say inflation is very moderate) and the whole equation becomes non-linear. I guess my point here is that there are so many factors at play that It's difficult to judge any particular stock but on aggregate, given that the expectations for the next 5-10 years are much worse than they were before 2008 how can SnP, FTSE100 DOW and others trade so close to their highs.

I dont expect prices to fall beyond January, in fact I have no clue what to expect but given unresolved and worsening economic situation in europe, slowing growth in China, sluggish growth in USA and many other places I just find it hard to justify rising prices.
  • #22,269
  • Jan 14, 2013 9:04am Jan 14, 2013 9:04am
Quoting _BBKing_
hi every1
i started a shy long position into this daily candle.
will stop loss immediately if price goes >today's open, no matter what.
will try to understand if possible to add IF n When price > 1680 but i'm not actually so much confident this will happen, so the reason why the position is actually small.

target area 1710-1740 but this will be depending on many factors
will move stop loss @be if i see price going fast near 1700.
chart below for those who need.

meanwhile if interested.... GBP CHF is in a very interesting weekly/monthly...

out of my gold long.
not enough strong for what i need.
definetly looking to buy again near 1640 or waiting a clear breake >1680.
90% of traders use TA, indicators and prediction
  • #22,270
  • Jan 14, 2013 10:20am Jan 14, 2013 10:20am
Quoting beeb
GC 240 - shown numerous times before

Looking to see breach AND SUPPORT above 1677 level. This line has been resistance numerous times before often with a spike away from it. So far on this approach there has been a lesser spike - this coupled with support arriving higher in the fork makes me watch for a breach....

beeb
Am I right that breach did not materialize, or is it too early to say?
  • #22,271
  • Jan 14, 2013 10:29am Jan 14, 2013 10:29am
im long from 1659. Breach will happen in 75%.
  • #22,272
  • Jan 14, 2013 10:30am Jan 14, 2013 10:30am
Quoting ivars
Am I right that breach did not materialize, or is it too early to say?
ivars - I am looking for price not to just pop up through previous resistance but also for that resistance to then become support...... As I said "Looking to see breach AND SUPPORT above 1677 level"

So far - just a rejection though not so extreme as previously....

BB speaks later so take care

beeb
  • #22,273
  • Jan 14, 2013 10:50am Jan 14, 2013 10:50am
i jusst want to take the pro guys here about this formation (gartley bullish) on daily chart
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  • #22,274
  • Jan 14, 2013 11:49am Jan 14, 2013 11:49am
beeb

Yes, 1679 I would even say , though for you scalpers 1677 might be good enough

I have a feeling that today will end down at close- down from where price is now. Could be the same 30,60, same thing for EUR USD -down. Who wants to be long before BB? I think BB is dangerous today, given the latest content of FED member speeches, though what can he do about fiscal deficits? Only claim he sees growth coming and interest rates even lower ( if Japan has planned to spend 558 billion for bonds of foreign countries, guess who will get the big part of the tribute).

http://www.bloomberg.com/news/2013-0...eign-debt.html
  • #22,275
  • Jan 14, 2013 11:50am Jan 14, 2013 11:50am
gold sell@1660, sl@1685, tp@1560 http://api.ning.com/files/w5n85aAtCO....JPG?width=750 http://api.ning.com/files/c80RyWgrPL....JPG?width=750 http://api.ning.com/files/pPOw9M4VBx....JPG?width=750
  • #22,276
  • Jan 14, 2013 11:53am Jan 14, 2013 11:53am
Quoting ivars
beeb

Yes, 1679 I would even say , though for you scalpers 1677 might be good enough
It's a 240 min - I scalp off 5 and 10 min charts....



beeb
  • #22,277
  • Jan 14, 2013 12:00pm Jan 14, 2013 12:00pm
Quoting saeedrehman
gold sell@1660, sl@1685, tp@1560 http://api.ning.com/files/w5n85aAtCO....JPG?width=750 http://api.ning.com/files/c80RyWgrPL....JPG?width=750 http://api.ning.com/files/pPOw9M4VBx....JPG?width=750...
Very bold call...

Olu
If you think you can or cannot do it you are correct
  • #22,278
  • Jan 14, 2013 12:32pm Jan 14, 2013 12:32pm
Quoting ivars
I have a feeling that today will end down at close- down from where price is now. Could be the same 30,60, same thing for EUR USD -down. Who wants to be long before BB?
Was I 180 degrees wrong . Time to shut up
  • #22,279
  • Jan 14, 2013 12:38pm Jan 14, 2013 12:38pm
Quoting ivars
Was I 180 degrees wrong . Time to shut up
heh) just wait till Bernanke opens his mouth. He hasn't been gold bug's best friend lately.
  • #22,280
  • Edited 2:33pm Jan 14, 2013 12:45pm | Edited 2:33pm
Quoting Olu
Very bold call...

Olu
Olu - anyone that just makes calls like that on this thread without REASONS gets ignored until they explain why.....



beeb
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