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All Majors and Gold

  • #8,021
  • Jun 29, 2013 9:55am Jun 29, 2013 9:55am
if one did not reverse its trend below 1200 and remain short/no position ....@1234 it would be very risky to go long...this may be a dead cat bounce and downtrend may resume...someone suggest this and i wish to follow: short with SL 1243 target-1185
  • #8,022
  • Jun 29, 2013 10:30am Jun 29, 2013 10:30am
we'll see 1100 as per previous post by one of our friend... remember his prediction? down to 1300 and after 2 months drop to 1100 ... cheers
  • #8,023
  • Jun 29, 2013 1:09pm Jun 29, 2013 1:09pm
Quoting longorshort
{quote} the correction that is happening currently, up to what price level do you estimate it will go? there is a strong resistance at around 1242-44. do you think it will cross that?



1269 is now strong resistance
  • #8,024
  • Jun 29, 2013 3:13pm Jun 29, 2013 3:13pm
Quoting shafaat
{quote} 1269 is now strong resistance

So it will climbto that 1269 ya.
Gold is my pleasure.
  • #8,025
  • Jun 29, 2013 11:04pm Jun 29, 2013 11:04pm
Quoting jebataro
{quote} So it will climbto that 1269 ya.
i think possible retracement $100 from 1180
  • #8,026
  • Jun 30, 2013 12:59am Jun 30, 2013 12:59am
Quoting elekboy
{quote} i think possible retracement $100 from 1180
So gonna go up to 1280 ya?
Gold is my pleasure.
  • #8,027
  • Jun 30, 2013 10:52am Jun 30, 2013 10:52am
it is time of retracement!
i think it will up at least 1262!but may be 1287
  • #8,028
  • Jun 30, 2013 11:00am Jun 30, 2013 11:00am
my view is UJ will correct to 101!
gold up to 1262 first
  • #8,029
  • Jun 30, 2013 1:10pm Jun 30, 2013 1:10pm
G ur prediction come true gold go down to 1180, 5$ diff from 1185 u say lis great ^^

Now u think maybe retracement time? or more down, i thinking retracement time maybe around 56% fib from (1487 - 1180) so around 1350

how bout ur analysis?
  • #8,030
  • Jun 30, 2013 1:46pm Jun 30, 2013 1:46pm
Inserted Video
  • #8,031
  • Jun 30, 2013 4:43pm Jun 30, 2013 4:43pm
Quoting hadesdmc
G ur prediction come true gold go down to 1180, 5$ diff from 1185 u say lis great ^^ Now u think maybe retracement time? or more down, i thinking retracement time maybe around 56% fib from (1487 - 1180) so around 1350 how bout ur analysis?
i'm in waiting mode.....but still looking at downtrend to 108x....
Wooooohooooo or Boooooohooooo
  • #8,032
  • Jun 30, 2013 4:44pm Jun 30, 2013 4:44pm
USD is weak at open,

AUD/USD
NZD/USD
USD/CAD
GBP/USD

hopefully USD/JPY is next.
  • #8,033
  • Edited 5:54pm Jun 30, 2013 5:19pm | Edited 5:54pm
Quoting goldie_india
if one did not reverse its trend below 1200 and remain short/no position ....@1234 it would be very risky to go long...this may be a dead cat bounce and downtrend may resume...someone suggest this and i wish to follow: short with SL 1243 target-1185
i agree with you. this is at best a dead cat bounce. and it's likely to reach only up to 1242. the bearish trend is still very overwhelming. there has been no change in any of the conditions that caused the downfall last week.

remember friday was the last day of the month, and more importantly, the last day of the quarter, as well as, end of the first-half of the year. the movement we saw on friday was affected by this. beginning this week, it is likely to go down again back below 1200.
  • #8,034
  • Jun 30, 2013 5:29pm Jun 30, 2013 5:29pm
anyone has pending short orders?

I think I'll short XAU/USD around 1238-1240
or
XAG/USD 19.80
  • #8,035
  • Jun 30, 2013 6:02pm Jun 30, 2013 6:02pm
Quoting openyoureyes
anyone has pending short orders? I think I'll short XAU/USD around 1238-1240 or XAG/USD 19.80
we're close to 1238-40. i agree, now is a good opportunity to short. target price 1185.
  • #8,036
  • Jun 30, 2013 6:11pm Jun 30, 2013 6:11pm
100 Tick chart for XAU/USD

got filled @1239.01
short
Attached Image (click to enlarge)
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  • #8,037
  • Jun 30, 2013 6:27pm Jun 30, 2013 6:27pm
bad entry, I should have waited
holding short @1239
SL 1246
Attached Image (click to enlarge)
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  • #8,038
  • Jun 30, 2013 6:44pm Jun 30, 2013 6:44pm
I hate to confuse matters here, but have put Murrey Math lines on the chart and see that there is a "Major Resistance" zone at 1250 on the Daily chart. We may have to get slightly higher. I'm not going to be able to discuss the merits, or not, of MM ... just like to see the lines every so often. On the other hand, price may not make it up there - we are kind of in the 1250 area anyway but MM is quite exact. I wonder whether London might not push it up, at least to 1250. A limit order there might not be a bad idea.
  • #8,039
  • Jun 30, 2013 6:56pm Jun 30, 2013 6:56pm
my SL 1246 proved to be perfect.

XAU/USD 1239 and pressing lower,
news hour incoming can't say much now.

just watching the price action
Attached Image (click to enlarge)
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  • #8,040
  • Jun 30, 2013 7:11pm Jun 30, 2013 7:11pm
Good on the stop loss placed at a perfect spot. Here is another MM fact - on the 1 hour, at 1234.24, there is a "Major Reversal" line which might be a place to watch for a countertrend trade of a small size, if one is permitted to hedge and if one has an interest in that. I am short, but I do think there is potential for price to go higher before it goes down... am ever leery of London, and will have to sleep through the beginning of NY, unfortunately. Don't think the bulls are 'done,' yet. . .
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