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All Majors and Gold

  • #7,881
  • Jun 26, 2013 5:41am Jun 26, 2013 5:41am
now that US GDP is less than expected...can we play for retracement?
  • #7,882
  • Jun 26, 2013 5:48am Jun 26, 2013 5:48am
Quoting goldie_india
now that US GDP is less than expected...can we play for retracement?

Yes... 1225 is going to be strong resistance and its time for retracement.... however, the major factor thats gona count is tomorrows news of unemployment..

if its gona be more unemployment then a big retracement is on the way...
  • #7,883
  • Jun 26, 2013 8:22am Jun 26, 2013 8:22am
Quoting elisab
Until the U.S.thirty years won’t reach 4% from the gold, there won’t be good news… {image}
please explain this. i did not understand. what is " U.S. thirty years". And what is the measure on Y-axis? please explain. thanks.
  • #7,884
  • Jun 26, 2013 9:08am Jun 26, 2013 9:08am
Quoting goldie_india
now that US GDP is less than expected...can we play for retracement?
1218 and then 1202 are the next targets. it's a bit too early for retracement.

a user here had made a comment about the unemployment report tomorrow. the unemployment number tomorrow is just a weekly report. the weekly report does not have much impact. for unemployment, it is the monthly report which has a strong impact.

the monthly unemployment report is released on the first friday of the month. the next report is on july 5.
  • #7,885
  • Jun 26, 2013 9:13am Jun 26, 2013 9:13am
Quoting longorshort
{quote} 1218 and then 1202 are the next targets. it's a bit too early for retracement. a user here had made a comment about the unemployment report tomorrow. the unemployment number tomorrow is just a weekly report. the weekly report does not much impact. for unemployment, it is the monthly report which has a strong impact. the monthly unemployment report is released on the first friday of the month. the next report is on july 5.

  • #7,886
  • Jun 26, 2013 11:11am Jun 26, 2013 11:11am
Quoting longorshort
{quote} 1218 and then 1202 are the next targets. it's a bit too early for retracement. a user here had made a comment about the unemployment report tomorrow. the unemployment number tomorrow is just a weekly report. the weekly report does not have much impact. for unemployment, it is the monthly report which has a strong impact. the monthly unemployment report is released on the first friday of the month. the next report is on july 5.


thanks longorshort!
  • #7,887
  • Jun 26, 2013 12:05pm Jun 26, 2013 12:05pm
good opportunity for a quick long trade. from around 1227-1230 to 1238-40. the bounce this time may not go all the way up to 1248, but will be shorter. eventually it is likely to form a descending triangle.
  • #7,888
  • Jun 26, 2013 12:22pm Jun 26, 2013 12:22pm
Quoting longorshort
good opportunity for a quick long trade. from around 1227-1230 to 1238-40. the bounce this time may not go all the way up to 1248, but will be shorter. eventually it is likely to form a descending triangle.



Gold ...... 12015 / 1202 Next
  • #7,889
  • Jun 26, 2013 12:33pm Jun 26, 2013 12:33pm
Quoting Malik taxila
{quote} Gold ...... 12015 / 1202 Next
not yet.

eventually, yes, that may be the next target, but it'll have to form a descending triangle first. that's because 1224 has been proven to be a strong support, and now there is double bottom at that level. we are likely to keep hitting 1224 again and again, with a correction each time. and then at the end of the descending triangle, the breakout would cotinue the downtrend, as is typical of a descending triangle formed as part of a bearish pattern.
  • #7,890
  • Jun 26, 2013 12:41pm Jun 26, 2013 12:41pm
Quoting longorshort
{quote} not yet. eventually, yes, that may be the next target, but it'll have to form a descending triangle first. that's because 1224 has been proven to be a strong support, and now there is double bottom at that level. we are likely to keep hitting 1224 again and again, with a correction each time. and then at the end of the descending triangle, the breakout would cotinue the downtrend, as is typical of a descending triangle formed as part of a bearish pattern.


So What you think Gold will Hit at 1255 ?? or near area ???? 2night or 2marrow ???
  • #7,891
  • Edited 1:06pm Jun 26, 2013 12:52pm | Edited 1:06pm
Quoting Malik taxila
{quote} So What you think Gold will Hit at 1255 ?? or near area ???? 2night or 2marrow ???
i did not say 1255 or anywhere near that. i estimate it to rise to around 1238-40. the bounce earlier from 1224 went up to 1248. the next bounce would be smaller. and if there;s another bounce, it would be still smaller. effectively, we'll see it as a descending triangle. a descending triangle is a continuation pattern that is seen as part of a bearish trend, when it encounters a strong support.

this would be the most suitable technical interpretation of the chart as we've seen it today.

if there is a quick spike like the one we had at 12:30pm GMT today, then we could get to 13340 level early. but if it is a gradual move up, of course, then it could take longer.

traders from sydney and tokyo, when they come back to trading, they could see it as a good opportunity for a long trade. in such a case again, we'll touch the 1240 level early.
  • #7,892
  • Jun 26, 2013 1:02pm Jun 26, 2013 1:02pm
Quoting longorshort
{quote} i did not say 1255 or anywhere near that. i estimate it to rise to around 1238-40. the bounce earlier from 1224 went up to 1284. the next bounce would be smaller. and if there;s another bounce, it would be still smaller. effectively, we'll see it as a descending triangle. a descending triangle is a continuation pattern that is seen as part of a bearish trend, when it encounters a strong support. this would be the most suitable technical interpretation of the chart as we've seen it today. if there is a quick spike like the one we had at 12:30pm...

  • #7,893
  • Jun 26, 2013 2:12pm Jun 26, 2013 2:12pm
who wants to know the reason for 1185 target......

pm me no later than 30mins from this posting
other wise don't ask me please....
am seating at a coffee shop and only have 30 mins here
in pm give me your email address
-if you get this template you will have insight on how to evaluate gold charts
thanks,
G
Wooooohooooo or Boooooohooooo
  • #7,894
  • Jun 26, 2013 2:58pm Jun 26, 2013 2:58pm
Commercial hedgers now at ~5year high:

Attached Image (click to enlarge)
Click to Enlarge Name: Untitled-2.png Size: 86 KB
Politics is the womb in which war develops.
  • #7,895
  • Jun 26, 2013 2:59pm Jun 26, 2013 2:59pm
Quoting FiatFap
Commercial hedgers now at ~5year high: {image}
welcome fiatfap.....
what does your statement saying?
Wooooohooooo or Boooooohooooo
  • #7,896
  • Jun 26, 2013 3:16pm Jun 26, 2013 3:16pm
Quoting gnomoneey
{quote} welcome fiatfap..... what does your statement saying?
Gold is at a critical inflection point and commercial hedgers posted a higher high (green line) from Q4 '08, so there may be more downside to gold....but from the chart i posted look what happened in 2008 as large traders and hedgers were squeezed together!

It's fascinating times ahead as gold is a tangible asset compared to fubar fiat and market machinations; will gold rally or drop below $1,150? If you buy gold, wait until there's a down-tick of the green line.

Attached Image (click to enlarge)
Click to Enlarge Name: Untitled-4.png Size: 18 KB


Edit:

I've transposed the graph to compare the green line in the red circle against the 2008 hedge high. Notice how the green line closed above the black horizontal line...hmmm?!

Attached Image
Politics is the womb in which war develops.
  • #7,897
  • Jun 26, 2013 3:21pm Jun 26, 2013 3:21pm
Quoting FiatFap
{quote} Gold is at a critical inflection point and commercial hedgers posted a higher high (green line) from Q4 '08, so there may be more downside to gold....but from the chart i posted look what happened in 2008 as large traders and hedgers were squeezed together! It's fascinating times ahead as gold is a tangible asset compared to fubar fiat and market machinations; will gold rally or drop below $1,150? If you buy gold, wait until there's a down-tick of the...
my opinion is that gold will drop lower from here and most likely lower towards 1050 or even 7xx
Wooooohooooo or Boooooohooooo
  • #7,898
  • Jun 26, 2013 3:23pm Jun 26, 2013 3:23pm
Quoting gnomoneey
who wants to know the reason for 1185 target...... pm me no later than 30mins from this posting other wise don't ask me please.... am seating at a coffee shop and only have 30 mins here in pm give me your email address -if you get this template you will have insight on how to evaluate gold charts thanks, G
Hi !MR . G!
Many people say 1224 is the oppotunity for long!
Can you tell me how 1185 is the nex target!What time for that!
Can i by now in your opinion!
thank you!
  • #7,899
  • Jun 26, 2013 3:23pm Jun 26, 2013 3:23pm
Quoting gnomoneey
{quote} my opinion is that gold will drop lower from here and most likely lower towards 1050 or even 7xx
a chart or some explanation would be useful.
  • #7,900
  • Jun 26, 2013 3:25pm Jun 26, 2013 3:25pm
Quoting longorshort
{quote} a chart or some explanation would be useful.
I've given the chart from last week .....wait i'll find the post
Wooooohooooo or Boooooohooooo
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