EurAnalysis

Mine is showing $38

and I thought IPO was $42 not $38, my bad

Google..... The bottomless pit of trash

Sorry that was an old chart. The new one is updated now.

CFTC COT report shows EUR shorts at a recent record 174K versus 143K last week.

Yup, perfect time for the big boys to cover. I heard that netshorts haven't been this high since 2008?

2757 holding here and now nearing the 5m, 8EMA.. i am out of my short here like i said

Here is the daily message from the trader who does the algorithm

I always enjoy his commentary Hope you do too




I’ve had this nightmare dream before; I’m driving along and everything’s fine and then out-of-the-blue the rocks come falling down crushing my car and me inside. You wake up and realize it ain’t happenin’, but nonetheless for a few seconds it’s a little disturbing.


How many times have we seen this scenario: sharp rally, crush shorts, turn common tech indicators bullish, get public long [again] at or near the top within 100 hours?


As the world falls apart and specifically Europe implodes, the smartest people in the room have just bet, in the last 48 hours, that Weimar Ben will hit the Cntrl-P button over at the Mariner Eccles building and start QE3 in June. If we don’t get it, a whole lot of people are gonna be trapped inside my dream.


I’m going to go out on the proverbial prediction limb here.


I think we have seen the low in gold up and until the Fed meeting in June. I can see about 1550-1557 on the low side and maybe 1610-1625 on the upside until then. But here’s the rub; if we don’t get QE3 from the Fed in June, and 1530 -1525 subsequently gets taken out, we are headed for a major debacle in price on the downside. And with that comes many months of price congestion and basing before gold can ever hope to go higher.


Around the 1580 level and higher today I have seen the “nibble nibble BOOM!!” phenomena from the Central Planners. There’s no doubt in my mind they were heavy handed in the market today. What do you suppose that means?


While the entire world goes ga-ga over the FaceBook IPO today [expecially California State Tax Apparatchiks], Greece is toast, Spain implodes, and European GDP is falling rapidly. Granted we needed some kind of rally because so many people have piled into the short side of gold.


[Here’s a thought; what if FaceBook opens higher and closes lower? What happens then?]


But remember this: in a bear market [not just gold but any market] the rallies are killer – they come out of nowhere and they are vicious – and they convince a whole lot of traders that the trend has just changed and now we can pile into the long side of the trade. If you look at a daily chart of gold this is the type of action we have seen since 1800.


Ultimately, after the stupid money has piled into the wrong side, price rolls over and we get the rinse & repeat cycle we have seen ad infinitum nauseum since last Fall; buy the rally get stopped out [pick number of days here ___ ] later.


You can rationalize a lot of things, but you can’t ignore the math; Europe is complete toast and the U.S. [add Japan too] is next. Stocks are so overvalued, pumped up via the Fed to get Chalky Soetero reelected, and give the illusion that things are just fine.


We have started to see stocks roll over world-wide; practically every major stock index is lower on the year. When the complete “risk off” comes, just remember gold isn’t immune.


Meanwhile … Chuckle of the day before the weekend.

short at 2775 again (exhaustion), tight stop, betting on a double top here

Thanks for posting. Please try not to forget to post your indi and pdf this weekend buddy.

Awesome He and I would get along very well.

What a coincidence. I'm also in at 1.2775. Moved SL to BE

Keep a tight stop. Next pop could take us to 1.2815 very quickly.

Yup, but it still feels exhausted. And 170 pips in one day to the upside,,, doesn't seem likely

My stop is half of my profit on the last scalp.

I won't! A few hours break after the close and I'll get working on it

Stop placed just above the highs with another short here at the highs, with 3 pip stop.

Edit: stopped out, got greedy, now price will probably come down after getting stops taken out too close to green line i think.

thats it for me today folks ~2.5% on the day i'm all smiles

will be back to post algorithm later

shouldn't fight the trend should have just got long at 2757.. and 5m,8EMA

I think you should read what your algo developer wrote.. particularly about the rallies in a bear market being violent and extreme.

Have a great weekend everyone. PT, you should be drinking your scotch right about now.

Already in hand thanks

Have a great weekend

Just like the closing scene from the Waltons...

Good night Invisible
Good night Gofer Pips
Good night adreamer
Good night 100PipsADay
Good night BFSGcapital
Good night binFX
Good night iPipSnatcher
Good night petkue
Good night flyblix

Sitting at 125 pips off the lows now. And the way it traded today, definitely violent and extreme. Those were large shorts closing positions I'd say Or covering or both because they are greedy

Definitely I do

He's a great trader hes just a having a tough year with gold. Compared to last year. There was a week he made 86% with golds $30-40 daily range.

Gold trading has been very strange this year. I wouldn't even try to trade gold, and he is switching to currencies for now.


Enjoy the weekend everyone, time seems to be flying by for me these days. Anyone else feel that way?

Will be back sometime tonight or tomorrow with the info. But I would prefer you PM me and I will send it to you, not going to post the DL link on the forum.

You would be wise to only supply it via PM. In fact I insist

Enjoy your weekends everybody!