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  • #18,961
  • May 30, 2012 5:27pm May 30, 2012 5:27pm
Usa economy is screwed they have no other option

One day when the world realises china has taken everyones jobs and does something about it things will change

Until then Fact china booming , western world screwed
  • #18,962
  • May 30, 2012 5:52pm May 30, 2012 5:52pm
Quoting fxtrader_888
Usa economy is screwed they have no other option

One day when the world realises china has taken everyones jobs and does something about it things will change

Until then Fact china booming , western world screwed
Do you actually read the stories you are posting?

Here is another newsflash - China has had 7 months of declining manufacturing figures and yet have no plans to do a big stimulus on the scale of the one they did in 2008.

China has a very large current account surplus with the west, mainly the USA.

Not much else.
  • #18,963
  • May 30, 2012 6:09pm May 30, 2012 6:09pm
Quoting SunTrader
Do you actually read the stories you are posting?

Here is another newsflash - China has had 7 months of declining manufacturing figures and yet have no plans to do a big stimulus on the scale of the one they did in 2008.

China has a very large current account surplus with the west, mainly the USA.

Not much else.
China is booming One of my best friends lives in Beijing for last 9 years

They are currently landbanking in australia
  • #18,964
  • May 30, 2012 6:11pm May 30, 2012 6:11pm
Quoting Skynet
fundamentals = bullish gold, technicals = bearish gold

any insight from forum members?
Fundamentals will win of course.

...After hunting the stops of technicals.

Translation: That support level will be broken, but it won't go lower than 1470'ish before the bullish trend prevails. I.e. the area between 1520 and 1470 is a good place to go long (long term).

Nothing is for certain of course. We don't have 'free markets', we have 'politicians markets'. If there is some serious (political/American) intention to bring Gold prices down then who knows. Long term, it's still better than betting on an inflating dollar though.
  • #18,965
  • May 30, 2012 6:36pm May 30, 2012 6:36pm
Quoting fxtrader_888
China is booming One of my best friends lives in Beijing for last 9 years

They are currently landbanking in australia
Was booming.

Landbanking, huh. Never heard of the term.

But I know personally Chinese officials who were buying property in Hawaii, Florida and British Columbia back in the 80's. So what.

I'm talking about their economy PRESENTLY. Not last year or the 10 years before.

When there are 1.3 or 1.4 Billion mouths to feed in a country things have to explode at double digit levels just to maintain things. Well they're growing at something like 6 or 7 percent - for who knows how long though. Numbers that would be great for the USA or Europe. Not so great for China.
  • #18,966
  • May 30, 2012 6:36pm May 30, 2012 6:36pm
Quoting SunTrader
Was booming.

Landbanking, huh. Never heard of the term.

But I know Chinese officials who were buying property in Hawaii, Florida and British Columbia back in the 80's. So what.

I'm talking about their economy PRESENTLY. Not last year or the 10 years before.

When there are 1.3 or 1.4 Billion mouths to feed in a country things have to explode at double digit levels just to maintain things. Well they growing at something like 6 or 7 percent. Numbers that would be great for the USA or Europe. Not so great for China.

http://www.bloomberg.com/news/2012-0...ice-drops.html
  • #18,967
  • May 30, 2012 6:41pm May 30, 2012 6:41pm
Quoting fxtrader_888
http://www.bloomberg.com/news/2012-0...ice-drops.html
That is amusing.

Months ago the tinfoil hat conspiracy folks were talking about how Goldman Sachs rigs the Gold market on behalf of the Fed to bring it down.

Now they want it higher.

Until the next story "prints".

If someone searches hard enough they can find a news article to prove/disprove anything.
  • #18,968
  • May 30, 2012 6:41pm May 30, 2012 6:41pm
Two pictures 20 hours apart of 1 minute gold.

First one 11 pm GMT just passed, second one 3 am GMT during Asian session, showing the originally drawn pithfork.

This is the same pithfork!

In the meantime the warning lines and quartiles where all adhered to.
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  • #18,969
  • May 30, 2012 7:56pm May 30, 2012 7:56pm
Quoting ikdenk
Two pictures 20 hours apart of ........
Looks like chart one is last and chart two is first. Other than that not sure how they line up.

But what is done is done. Where does it predict price going next?
  • #18,970
  • May 30, 2012 9:46pm May 30, 2012 9:46pm
Quoting SunTrader
Looks like chart one is last and chart two is first. Other than that not sure how they line up.

But what is done is done. Where does it predict price going next?
The sequence of the charts is like you spelled out.

They are the same pichfork, the slope only looks different because of the scaling of the charts.

I use the pitchforks for scalping, theory has it that when the upper and lower parellels are broken prices will head to the median line 80% of the time. Similar with the warning lines and quartiles.

Beeb's videos explain the value of pitchforks much better than I can manage to explain.
  • #18,971
  • May 30, 2012 10:41pm May 30, 2012 10:41pm
Hunting all the stops, yes! If you look at a month chart and scale back just a hair it shows where it's headed, when everyone else (not everyone) thinks it's going down south like a duck in winter, which it will for the fact of the idea already being set; It’s with up most certainty going back into the 1600's first and maybe (I said maybe the 1700's) after that. It will have to break a lot of barriers first. The two major ones being the monthly pivot at 1663.35 and 1669.24, though it might not even get there and by the end of month we will know its next short turn move going into the second month if next month breaks certain barriers. Now a hair under 1634.15 is where I'm shooting for, playing the levels of resistance on the way up; though over all let me go on record and say “I'm just saying, and I'm not trying to convince anyone here, I could be wrong”; I know the bottom is coming: I just think It will come when the market think's the bearish option is over: that seems to be how the market works, that is make people think it’s going somewhere else and "POP" it goes where you knew for certain it would not. That’s how it seems people with all the money get uber wealthy by manipulating the tops and bottoms, and with every reentry into the market their presence becomes stronger and more dominating. Gold’s a little different than the rest it seems; fact being that it’s physical and represents the physical form of money. Someone knows that one day gold will be worth nothing more than the weight it carries, so meanwhile the will keep sucking all the money they can so they can buy what the future beholds. Ok...I'm sorry, I'm just ranting about nonsense that I enjoy thinking about, but in the end I'm saying in three months maybeeeeee 2 months we'll be back in gear for the 1400's venture everyone’s been waiting for: after the US problems start to resurface then we'll see it go back up and retest the old high's (but who knows how much time that will take, I do know that if our president wants to get reelected, they will keep letting other problems of the world over shadow our own, and their doing a great job at that!). I could just be completely wrong: "hell" if it happens, then I will laugh at myself! I'm strung up on no sleep, so maybe that could be my problem at the moment, but for now and always, that's the way I play it; also with a cup of patience and tea. Then again if Goldman Sachs says gold’s going up to 1,840 in six months it makes me want to think otherwise about my decision; in reality this sort of helps me, because they want people to get back in and they will when they see it going up, and like always that dream will come to an end. I hate to say it but I agree with that time frame, but I say 7 to 8 months. Oh, did I forget to mention back down to the 1400’s first; it’s funny because sometime and a lot of the times these big companies are right, it’s just they always forget to put the real information that helps people. They could just say “hey” eh, ok, somewhere around that time frame and it might dip to an all-time low, well, within the last three years to say. They will be hated and say in a year or so, well I told you it was going there, sorry we forgot to tell you where it was headed for the last four months before the 6th to 7th month. Ha! Good night to whomever reads this, I’m tiered.

Quoting Marv
Fundamentals will win of course.

...After hunting the stops of technicals.

Translation: That support level will be broken, but it won't go lower than 1470'ish before the bullish trend prevails. I.e. the area between 1520 and 1470 is a good place to go long (long term).

Nothing is for certain of course. We don't have 'free markets', we have 'politicians markets'. If there is some serious (political/American) intention to bring Gold prices down then who knows. Long term, it's still better than betting on an inflating dollar though.
  • #18,972
  • May 30, 2012 11:15pm May 30, 2012 11:15pm
If she don't take off from here, she seems to be falling more :


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  • #18,973
  • Edited 4:05am May 31, 2012 3:53am | Edited 4:05am
Quoting Crgone12
... I do know that if our president wants to get reelected, they will keep letting other problems of the world over shadow our own, and their doing a great job at that!). ...
Completely agree.

Quoting Crgone12
... Oh, did I forget to mention back down to the 1400’s first....



But here i disagree, i mean, what is going on with that 1400 lvl, is that something i'm missing? The 1525-1530 is fairly strong support that started at the end of 09.2011, if this friday closes above 1525-1530 it'll be the third consecutive week that tested the support. Ok, i can get the 1500 is a psychological support, but hey,1400 is still a long way to go.

P.S. I would love to see beeb's forks projected on weekly.

L.E.: Does anyone know something about XT?
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  • #18,974
  • May 31, 2012 7:27am May 31, 2012 7:27am
Quoting skbhatia
Gold is oversold in most of the time frames from 4 hourly to weekly, which for me is a rare phenomenon. Attached is a chart for my reasoning to buy Gold. Mind the daily closing below 1530

Analysis:

Bullish above 1530 with 1690 & 1800 in sight.

Alternative scenario: A downside breakout of 1530 would open the way towards 1415.

A support base at 1530 has formed and has allowed for a temporary stabilisation.
i still maintain that till the time we dont see daily closing below 1530, we have a bottom formation on XAUUSD. Yesterday it tested the region for the third time and everytime it hovers around the price range there is heavy buying into it. i would suggest a long term buying above 1530 with a stop at day close if it closes below 1530.
  • #18,975
  • May 31, 2012 7:35am May 31, 2012 7:35am
Good points all around....i am wondering...does anybody here exploits potential correlations between AUD/USD and XAU/USD to trade the XAU?

Quoting Marv
Fundamentals will win of course.

...After hunting the stops of technicals.

Translation: That support level will be broken, but it won't go lower than 1470'ish before the bullish trend prevails. I.e. the area between 1520 and 1470 is a good place to go long (long term).

Nothing is for certain of course. We don't have 'free markets', we have 'politicians markets'. If there is some serious (political/American) intention to bring Gold prices down then who knows. Long term, it's still better than betting on an inflating dollar though.
" It may mean something. It may mean nothing at all "
  • #18,976
  • May 31, 2012 8:29am May 31, 2012 8:29am
Bill Gross is warning about the end of the bull market in bonds and a coming era of inflation, in his latest Investment Outlook.
As investors, including China, question negative returns (inflation adjusted) they will shift into “real assets such as land, gold and tangible things, or to cash and a figurative mattress where at least their money is readily accessible.”
He sees a coming “breaking point” that looks towards “higher global inflation as a solution to overextended debt-laden balance sheets – be they public or private.”
  • #18,977
  • May 31, 2012 9:09am May 31, 2012 9:09am
Bill Gross is a good guy. But he thinks long term. Go ahead and buy ... as price keeps dropping.

You might be right ... in the long term.

But the idea is to be profitable and not just right, so you might have to have a lot of mney to also make a profit if the price keeps dr dr dropping.

Me, I'm concerned about what is happening today and the next couple of days and could care less what some expert says about the future.
  • #18,978
  • May 31, 2012 9:36am May 31, 2012 9:36am
Quoting SunTrader
Bill Gross is a good guy. But he thinks long term. Go ahead and buy ... as price keeps dropping.

You might be right ... in the long term.

But the idea is to be profitable and not just right, so you might have to have a lot of mney to also make a profit if the price keeps dr dr dropping.

Me, I'm concerned about what is happening today and the next couple of days and could care less what some expert says about the future.
Ditto

http://www.bloomberg.com/news/2012-0...ice-drops.html
  • #18,979
  • May 31, 2012 9:41am May 31, 2012 9:41am
Quoting SunTrader
Bill Gross is a good guy. But he thinks long term. Go ahead and buy ... as price keeps dropping.

You might be right ... in the long term.

But the idea is to be profitable and not just right, so you might have to have a lot of mney to also make a profit if the price keeps dr dr dropping.

Me, I'm concerned about what is happening today and the next couple of days and could care less what some expert says about the future.
Operation twist finishes june 2012 Bernacke will announce qe3 June 2012 watch this space
  • #18,980
  • May 31, 2012 9:41am May 31, 2012 9:41am
Next few days should be "interesting" following that horrible PMI number.

Quick reminder that NFP is tomorrow and that the London market will be closed Monday and Tuesday for Bank Holidays......

beeb
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