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All Majors and Gold

  • #4,281
  • Apr 13, 2013 7:44pm Apr 13, 2013 7:44pm
You can always speculate why it dropped so much.
To be honest. I just belive it broke out from a pattern and then everybody started to sell off. Look at the chart. It was pretty high compared to 6 years ago.

I waited for this to happen for at least 6 weeks. I dont understand why people gets so stressed up about it. This is totally normal. Espcecially as gold has been so high last years. It canīt go up all the time right?

Gold is still extremely high compared to years ago.

Look at all other markets. Everything goes up and down. Sometimes more than other weeks.

My forecast: It will continue to go down. But we will se a small retrace first. I think it will be around 5000-12000 pips drop next week.

Good luck guys. And donīt stress up and make up some theory why it dropped. It dropped because it had to drop!
  • #4,282
  • Apr 13, 2013 7:57pm Apr 13, 2013 7:57pm
Quoting tafy68
Based on a silly idea that i had that Silver would go up eventually same as gold, problem is its highly manipulated so its getting smacked around atm. I will need to hedge the positions somewhere i think if it keeps going like this, my idea is too big for my account and i was silly. The original idea was to buy in on less than 30 dollars every 100 pips down, so 1st pos 29.00 etc, 2nd is 28.00 Im a silver bull at heart
Well you don't need to go back too long to see the Silver price below $10 / Gold below $700.. Investors were in panic mode a couple of years later, driving the price to stupid heights.. Now it will take a couple of years to come back to normal levels. I've been waiting for this break for a long time. Next major stop is low 1300's.. then 1150.. Given that there are no major financial crisis' in the mean time. Silver will follow.

This will be a long process though. We will see plenty of normal bounces. I'd be getting out on the next bounce if I were you, if your account can hold on a little longer. I have 1470.4 as the bottom this time around, before a bounce to 1538/1543 minimum (mid of previous leg) and then a continuation of the downtrend.

I haven't checked the silver chart properly but I believe there is nothing but air, way below current levels.

Next week, for Gold, I'll be looking to enter a long @ 1471, SL 1460. Perhaps even a long @ 1471, SL at 1469.5 for some massive r/r
  • #4,283
  • Apr 13, 2013 8:03pm Apr 13, 2013 8:03pm
Quoting growingeuro
My forecast: I think it will be around 5000-12000 pips drop next week.
You mean $50-$120? That's a big call. It won't be going down that quickly.. this pig will take months, probably years to reach the targets I posted.
  • #4,284
  • Apr 13, 2013 8:52pm Apr 13, 2013 8:52pm
Here's my view of gold
-take note of magenta tl
-take note of green s/r
Attached Image (click to enlarge)
Click to Enlarge Name: xauapril13weeklysar.png Size: 41 KB
Wooooohooooo or Boooooohooooo
  • #4,285
  • Apr 13, 2013 9:10pm Apr 13, 2013 9:10pm
on what basis do you guys think gold will drop further? what made so suddenly for whole world to start hating gold?

in world crises scenarios I still think only GOLD,SILVER,DIAMONDS and PLATINUM are safe heavens.
been there done that, Good Bye
  • #4,286
  • Apr 13, 2013 9:16pm Apr 13, 2013 9:16pm
the sell off will continue til tuesday by peter schiff
Inserted Video
  • #4,287
  • Apr 13, 2013 11:20pm Apr 13, 2013 11:20pm
Quoting elekboy
the sell off will continue til tuesday by peter schiff http://www.youtube.com/watch?feature...&v=2Si9AaWVbak

hum, he seem like he is long and underwater.

no sign of gold longs capitulation.
  • #4,288
  • Apr 14, 2013 1:21am Apr 14, 2013 1:21am
http://goldtrends.net/FreeDailyBlog?...ew&bmi=1267250

GOOD FOR READ
  • #4,289
  • Apr 14, 2013 1:23am Apr 14, 2013 1:23am
I have just wired money to double the size of my little account, so monday i can breath easier. Gold and silver isnt a currency but a physical product and also in demand by much of the world.

Anyone have any advice for averaging positions in gold and silver? lets say it goes to 2000 from here and i buy all the way up and have some green pips, whats the exit strategy if it goes back to 1500 from there?

I gotta think about my idea in more detail
  • #4,290
  • Apr 14, 2013 8:14am Apr 14, 2013 8:14am
I lose all interest in Gold discussion when manipulation is mentioned. Even if it might be true.

Chart shows downtrend and that it is close if not already in a bear market, that is where my interest is.

I can't help thinking the "m" word is never used when price is rising.
  • #4,291
  • Apr 14, 2013 8:21am Apr 14, 2013 8:21am
Quoting tafy68
...... Anyone have any advice for averaging positions in gold and silver? lets say it goes to 2000 from here ....
My advice is ... don't

But too late for that. You have already decided to do it, which is fine of couurse because its your money.

As for next line I left in quote, the flip side is what if it continues to drop.

There is always 2 parts to the trading equation. What do you do if you are right and what do you do if you are wrong?
  • #4,292
  • Apr 14, 2013 8:32am Apr 14, 2013 8:32am
Quoting SunTrader
My advice is ... don't But too late for that. You have already decided to do it, which is fine of couurse because its your money. As for next line I left in quote, the flip side is what if it continues to drop. There is always 2 parts to the trading equation. What do you do if you are right and what do you do if you are wrong?
My advice is: try it to know when to use and when not. Ofc the "try" should be with small position size.
Sometimes is good, sometimes not and sometimes can wipe your account.

Just try to remember your trades: when was the biggest loss, when was the biggest drawdown. Have you used this method, would it help you?
How would you fee with increased positions size, your trading plan it allows it?
I want to buy PATIENCE
  • #4,293
  • Apr 14, 2013 9:42am Apr 14, 2013 9:42am
I still think Friday move was freaking panic sale, and I am pretty sure china and india will take opportunity and start buying from monday.

weekly chart supports my analysis.
been there done that, Good Bye
  • #4,294
  • Apr 14, 2013 9:58am Apr 14, 2013 9:58am
Quoting WhiteHorse
I still think Friday move was freaking panic sale, and I am pretty sure china and india will take opportunity and start buying from monday. weekly chart supports my analysis.
hi Whitehorse,

please posts your charts that supports your view

thanks,

G
Wooooohooooo or Boooooohooooo
  • #4,295
  • Apr 14, 2013 10:10am Apr 14, 2013 10:10am
Quoting elekboy
http://goldtrends.net/FreeDailyBlog?...ew&bmi=1267250 GOOD FOR READ

good artical and sure the writer is a buyer but he raised some good points . if this is really true as he told in his artical that same fake move happened on 29 dec 2011 and then market went up from next day and in market was again at 1700 barrier , we can hope that market will go up on monday and so on .......
  • #4,296
  • Apr 14, 2013 10:17am Apr 14, 2013 10:17am
we were in range from last 3 years, on Friday support got broke, but I think it was a panic same and result of numerous institutional stop losses.
Attached Image (click to enlarge)
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been there done that, Good Bye
  • #4,297
  • Apr 14, 2013 10:35am Apr 14, 2013 10:35am
Quoting WhiteHorse
we were in range from last 3 years, on Friday support got broke, but I think it was a panic same and result of numerous institutional stop losses. {image}
that's the problem i'm having is that with the price breaking a massive support that's been intact for 3 yrs everyone is looking for a bounce that might not happen until much later.

if you look at the chart from sept 30,2012 weekly chart
you see that the high to low then high to lows
we are now on the 4th wave of this....
-the first three was so close in ratios that it's very funny ....this has been what I've been using to predict price action.
along with s/r we can tell where they are trying to bring it down or up....

I still say 1300 soon....

just my stupid view....
Wooooohooooo or Boooooohooooo
  • #4,298
  • Apr 14, 2013 10:41am Apr 14, 2013 10:41am
I think what we are seeing here is the beginning of a disconnect between paper gold and physical...
  • #4,299
  • Apr 14, 2013 12:39pm Apr 14, 2013 12:39pm
Quoting gnomoneey
that's the problem i'm having is that with the price breaking a massive support that's been intact for 3 yrs everyone is looking for a bounce that might not happen until much later. if you look at the chart from sept 30,2012 weekly chart you see that the high to low then high to lows we are now on the 4th wave of this.... -the first three was so close in ratios that it's very funny ....this has been what I've been using to predict price action. along with s/r we can tell where they are trying to bring it down or up.... I still say 1300 soon.......
It is not a stupid view at all...

Olu
If you think you can or cannot do it you are correct
  • #4,300
  • Apr 14, 2013 12:39pm Apr 14, 2013 12:39pm
Quoting gnomoneey
that's the problem i'm having is that with the price breaking a massive support that's been intact for 3 yrs everyone is looking for a bounce that might not happen until much later. if you look at the chart from sept 30,2012 weekly chart you see that the high to low then high to lows we are now on the 4th wave of this.... -the first three was so close in ratios that it's very funny ....this has been what I've been using to predict price action. along with s/r we can tell where they are trying to bring it down or up.... I still say 1300 soon.......

think the same, i am not in gold but short in silver and set PT 20.50 or close if gold touch 1200. no looking for supports when the market in panic we se today after open if the panic is real i know that -30 % in 3-4 days is posible for silver market, also after - 6% think about long is is crazy idea . I remeber after fal from40 usd to 30 usd in 2 days i buy a lot of silver because think the move down is to match, but we touch 26 and it was death for my account
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