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All Majors and Gold

  • #1,921
  • Dec 18, 2012 10:38am Dec 18, 2012 10:38am
Quoting gnomoneey
WOW target reached on tuesday.....
next is 1656.....then 1637
Wooooohooooo or Boooooohooooo
  • #1,922
  • Dec 18, 2012 10:42am Dec 18, 2012 10:42am
Interesting to see that for almost the last month both gold & the usd have been going down in tandem. That inverse correlation is way out of sync and it appears that there a huge seller in gold. It will interesting to see how much longer that can last.
It works till it doesn't
  • #1,923
  • Dec 18, 2012 10:44am Dec 18, 2012 10:44am
Quoting DaEdge
Interesting to see that for almost the last month both gold & the usd have been going down in tandem. That inverse correlation is way out of sync and it appears that there a huge seller in gold. It will interesting to see how much longer that can last.
all that means world economy is getting better so commodities are going to drop in prices.....
Wooooohooooo or Boooooohooooo
  • #1,924
  • Dec 18, 2012 10:57am Dec 18, 2012 10:57am
Quoting gnomoneey
Sorry Fidza, I forgot to welcome you and thank you for the post and article....
I have posted here before and got your welcoming message too , nonetheless thank you again, its always nice to be noticed lol.

It looks like its all happening ,broke through all its major supports so far, I imagine a lot more sls in the 1650 area which if broken should push price even further down.
Officer ... I swear to drunk I am not God
  • #1,925
  • Dec 18, 2012 11:01am Dec 18, 2012 11:01am
Quoting Fidza
I have posted here before and got your welcoming message too , nonetheless thank you again, its always nice to be noticed lol.

It looks like its all happening ,broke through all its major supports so far, I imagine a lot more sls in the 1650 area which if broken should push price even further down.
i did not expect this move until thursday/friday.....
Wooooohooooo or Boooooohooooo
  • #1,926
  • Dec 18, 2012 11:19am Dec 18, 2012 11:19am
Quoting gnomoneey
i did not expect this move until thursday/friday.....
Last 2 weeks of December tend to be similar to Fridays on month ends, lots of profit taking/hedging and a significant decrease in volume, add to that the fact that there is the recovery hype with the likes of S&P adding weight declaring stable outlooks for previously considered time bombs and the like, I did have the gut feeling that a major drop was in order and actually thought we would see it by the end of last week after the FOMC minutes failed to support gold.

As I said I have avoided Gold until 2 weeks ago , shorted at 1715 and been adding shorts at $10 intervals, am in it for the long term and am managing all open positions to a maximum Sl of 1800 . All the fundamentals are in place for a major price drop ETFs are the only thing holding gold prices up and these are bound to be sidelined in favour of other assets as the big shot callers start advertising a turn around in the economy.
Officer ... I swear to drunk I am not God
  • #1,927
  • Dec 18, 2012 2:43pm Dec 18, 2012 2:43pm
Quoting Luis Carlos
G doesnt scalp that... short on dips 1660/1645 is a possible ending
1661 could be the bottom
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #1,928
  • Dec 18, 2012 2:47pm Dec 18, 2012 2:47pm
Quoting Luis Carlos
1661 could be the bottom
why? show me chart please....
Wooooohooooo or Boooooohooooo
  • #1,929
  • Dec 18, 2012 2:56pm Dec 18, 2012 2:56pm
Quoting gnomoneey
why? show me chart please....
there you go
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 40 KB
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #1,930
  • Dec 18, 2012 3:07pm Dec 18, 2012 3:07pm
Quoting Luis Carlos
there you go
so
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #1,931
  • Dec 18, 2012 3:11pm Dec 18, 2012 3:11pm
Quoting Luis Carlos
there you go
61.8% 1631....next level of support
Wooooohooooo or Boooooohooooo
  • #1,932
  • Dec 18, 2012 3:16pm Dec 18, 2012 3:16pm
Quoting gnomoneey
61.8% 1631....next level of support
I see firts 45. There is 3 or 5 wave down I can decide but if there is 5 is done at 1661
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 36 KB
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #1,933
  • Dec 18, 2012 3:19pm Dec 18, 2012 3:19pm
Quoting Luis Carlos
I see firts 45. There is 3 or 5 wave down I can decide but if there is 5 is done at 1661
ok thanks....consolidation or drop some more
Wooooohooooo or Boooooohooooo
  • #1,934
  • Dec 18, 2012 3:23pm Dec 18, 2012 3:23pm
Quoting Luis Carlos
I see firts 45. There is 3 or 5 wave down I can decide but if there is 5 is done at 1661
I see 3 waves, 1.677/78 good short if you are bear....
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #1,935
  • Dec 18, 2012 3:52pm Dec 18, 2012 3:52pm
oopss... Stop loss last night

1661 is the good entry for long ?
  • #1,936
  • Dec 18, 2012 5:04pm Dec 18, 2012 5:04pm
could be reason for tonight $15 pop from lows

U.N. Presents Grim Prognosis on the World Economy
From nytimes.com
http://images.forexfactory.net/misc/news_quote.gif World economic growth has weakened substantially this year and faces the confluence of a triple threat — the so-called fiscal cliff in the United States, the European debt crisis and a sharp slowdown in China, the United Nations said in a report released on Tuesday. The worst case, the report said, could be a new global recession that mires many countries in a cycle of austerity and unemployment for years. The main author of the report, Robert Vos, director of the Development Policy and Analysis Division of the United Nations Department of Economic and Social Affairs, said it could take until at least ... (full story)
http://images.forexfactory.net/misc/like.gif?v=1.0.0
Wooooohooooo or Boooooohooooo
  • #1,937
  • Dec 18, 2012 5:06pm Dec 18, 2012 5:06pm
I short GOLD
Long Eur..
  • #1,938
  • Dec 18, 2012 5:31pm Dec 18, 2012 5:31pm
nov 5 2012 low of 1672.50 is strong support that brought price back to 1754....i still think that we are heading lower since price penetrated that low and retraced.

only time will tell
Wooooohooooo or Boooooohooooo
  • #1,939
  • Dec 18, 2012 9:34pm Dec 18, 2012 9:34pm
gold touching weekly trend line.........
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.GIF Size: 15 KB
  • #1,940
  • Dec 18, 2012 11:17pm Dec 18, 2012 11:17pm
"Promissed count"
Attached Image (click to enlarge)
Click to Enlarge Name: ?.gif Size: 27 KB
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