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All Majors and Gold

  • #3,361
  • Mar 18, 2013 7:59am Mar 18, 2013 7:59am
Quoting Arav007
What is the relation of Cyprus with Gold? So far I have seen it's relation with EU.
Also, how EU will be affected by Cyprus news can you explain a bit?
Thanks
Logic is simple - your money is not safe look for alternative, part of money likely to flow into precious metals. Also the uncertainty and volatility this will cause should be beneficial for gold. Another possibility is that people will panic, withdraw their cash and want to either spend it or invest it and it may cause an uptick in inflation due to increase in velocity of money which is also beneficial for gold (a bit of a long stretch at the moment though)
  • #3,362
  • Mar 18, 2013 8:06am Mar 18, 2013 8:06am
Quoting lexazver
Logic is simple - your money is not safe look for alternative, part of money likely to flow into precious metals. Also the uncertainty and volatility this will cause should be beneficial for gold. Another possibility is that people will panic, withdraw their cash and want to either spend it or invest it and it may cause an uptick in inflation due to increase in velocity of money which is also beneficial for gold (a bit of a long stretch at the moment though)
Thanks. So, Gold may act like Safe Haven for people from Cyprus now?
And what may be the short term effect on EU if they don't pass Bailout or Cyprus leave the EURO Zone?
  • #3,363
  • Mar 18, 2013 8:07am Mar 18, 2013 8:07am
Quoting Arav007
What is the relation of Cyprus with Gold? So far I have seen it's relation with EU.
Also, how EU will be affected by Cyprus news can you explain a bit?
Thanks
Sorry I'm a simpleton and not too good on fundemental or econmics.
All I work on is bad evonomic news gold up
Good economic news gold go down
Wooooohooooo or Boooooohooooo
  • #3,364
  • Mar 18, 2013 8:08am Mar 18, 2013 8:08am
Quoting gnomoneey
Sorry I'm a simpleton and not too good on fundemental or econmics.
All I work on is bad evonomic news gold up
Good economic news gold go down
Bad news about EU?
Good news about EU?
  • #3,365
  • Mar 18, 2013 8:11am Mar 18, 2013 8:11am
Quoting Arav007
Thanks. So, Gold may act like Safe Haven for people from Cyprus now?
And what may be the short term effect on EU if they don't pass Bailout or Cyprus leave the EURO Zone?
Eu has to calm things down.
Votes will determine which way Cyprus will go. Delay will cause eu to drop. Any good news from eurizone then we go up
Wooooohooooo or Boooooohooooo
  • #3,366
  • Mar 18, 2013 8:29am Mar 18, 2013 8:29am
Strong resistance again at 1609 but buyers a veery persistent - tough to call.
  • #3,367
  • Mar 18, 2013 10:04am Mar 18, 2013 10:04am
there was strong buying at 1602/03, looks like buyers get excited when price gets down close to 1600.
  • #3,368
  • Mar 18, 2013 11:15am Mar 18, 2013 11:15am
Quoting lexazver
there was strong buying at 1602/03, looks like buyers get excited when price gets down close to 1600.
lexazver,

what are you using to get these numbers....please sho me a chart....
we seem to me in same area....just want to see what u are using....
Wooooohooooo or Boooooohooooo
  • #3,369
  • Mar 18, 2013 11:47am Mar 18, 2013 11:47am
I use black voodoo magic )) nah im just looking at 10sec oanda graph and see where volumes spike, they seem to be quite reliable. I posted couple of times before but ill show again, probably tomorrow.
  • #3,370
  • Mar 19, 2013 4:23am Mar 19, 2013 4:23am
Quoting lexazver
I use black voodoo magic )) nah im just looking at 10sec oanda graph and see where volumes spike, they seem to be quite reliable. I posted couple of times before but ill show again, probably tomorrow.
So here is an example. I don't know how it will play out buy I see buyers stepping in , although not very massively , around 1602 a scan be seen from spikes in volumes and green candle closes. The biggest volume candle was red but then followed by a green one with closely matched volume indicating that perhaps buyers are absorbing the sellers.
Attached Image (click to enlarge)
Click to Enlarge Name: volumes.JPG Size: 131 KB
  • #3,371
  • Mar 19, 2013 4:56am Mar 19, 2013 4:56am
very quiet morning today.... have to wait for US to open to spice things up.
  • #3,372
  • Mar 19, 2013 5:41am Mar 19, 2013 5:41am
gold current 1602.6
either gold go up to 1606 or gold go down 1597
i still like up
Wooooohooooo or Boooooohooooo
  • #3,373
  • Mar 19, 2013 6:06am Mar 19, 2013 6:06am
hi guys,

I was trading gold for 2 years. A lot of ppl been telling me that I should focus on buy for gold since buy is the major trend most of the time. So after the research I found this is not entirely true as last year gold drop from 1800 down up to this year.

Based of this research I as well backtest a strategy where I dont get much trades every month mainly average once a month. But what I like bout this strategy is very rare for losses probably after 8 to 10 trades will have one loss. Due to this I could SL 50% and TP 25%. SO this becomes a 2:1 risk reward ratio. So far for two years it has been quite well done with only 2 trades loss.

This is based on the break out strategy of the highest and lowest of yesterday with an indicator of 86 SMA to determine the trend.
  • #3,374
  • Mar 19, 2013 7:35am Mar 19, 2013 7:35am
Quoting lexon
hi guys,

I was trading gold for 2 years. A lot of ppl been telling me that I should focus on buy for gold since buy is the major trend most of the time. So after the research I found this is not entirely true as last year gold drop from 1800 down up to this year.

Based of this research I as well backtest a strategy where I dont get much trades every month mainly average once a month. But what I like bout this strategy is very rare for losses probably after 8 to 10 trades will have one loss. Due to this I could SL 50% and TP 25%. SO this becomes...
thanks for posting
if you want to share your charts it'll be quite welcome
Wooooohooooo or Boooooohooooo
  • #3,375
  • Mar 19, 2013 9:24am Mar 19, 2013 9:24am
Quoting gnomoneey
gold current 1602.6
either gold go up to 1606 or gold go down 1597
i still like up
nice....1607.65
potential retracement on h1 1606
possible run to 1612 -yesterday's high
Wooooohooooo or Boooooohooooo
  • #3,376
  • Mar 19, 2013 9:31am Mar 19, 2013 9:31am
out of topic ....

anyone trade on fxcm uk?
anyone notice that spreads have dropped....
gold now from 20pips to 35pips
Wooooohooooo or Boooooohooooo
  • #3,377
  • Mar 19, 2013 9:38am Mar 19, 2013 9:38am
Quoting gnomoneey
nice....1607.65
potential retracement on h1 1606
possible run to 1612 -yesterday's high
yeeehaaaa
  • #3,378
  • Mar 19, 2013 9:39am Mar 19, 2013 9:39am
Quoting lexazver
yeeehaaaa
sorry lexazver....am i good or what....i want 1700
Wooooohooooo or Boooooohooooo
  • #3,379
  • Mar 19, 2013 9:40am Mar 19, 2013 9:40am
dont see many sellers at 1612.
  • #3,380
  • Mar 19, 2013 9:42am Mar 19, 2013 9:42am
Quoting gnomoneey
sorry lexazver....am i good or what....i want 1700
where to from here??
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