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All Majors and Gold

  • #8,801
  • Oct 31, 2013 6:28am Oct 31, 2013 6:28am
Attached Image (click to enlarge)
Click to Enlarge Name: untitled_daily.PNG Size: 26 KB


Above chart shows overall views of market.

Attached Image (click to enlarge)
Click to Enlarge Name: untitled_daily1.PNG Size: 23 KB


Above 2nd chart shows that market test resistance line and further fall for 5th downside wave after finishing A-B-C pattern of 4th wave
according to Elliott Wave theory, there are two ways to determine a target of finishing 5th wave.

1st way: take start point of 1st wave (1433.61) and end point of 3rd wave (1251.54), make difference of them (182.07) and multiply with Fibonacci number 0.618, subtract resulting value from end point of 4th wave (1361.70). Resulting value is either target.

1433.61 - 1251.54 = 182.07 * 0.618 = 112.52
1361.70 - 112.52 = 1249.18 ( EITHER TARGET)

2nd way: take start point of 1st way )1433.61) and end wave of 1st wave (1291.54), make difference of them (142.07) and multiply with Fibonacci number 1, subtract resulting value from end point of 4th wave (1361.7). Resulting value is either target.

1433.61 - 1291.54 = 142.07 * 1 = 142.07
1361.70 - 142.07 = 1219.63 (EITHER TARGET)

And there is also possibility that target can in between of EITHER TARGET VALUE. (1219 to 1249)

Attached Image (click to enlarge)
Click to Enlarge Name: untitled_daily2.PNG Size: 27 KB


Above chart shows target area..

I have no personal position in forex and still well learning it. But very well implement in Indian equity market.
suggestion accepted....

  • #8,802
  • Oct 31, 2013 6:59am Oct 31, 2013 6:59am
Quoting gnomoneey
gold view for today pre and post fomc currently lower highs and lower lows are pointing to trend change to bear until we break 1361 highs then we are still on that direction the $30 rejection of that point is quite strong we also had new month for options 1336 gets 1328 gets 1321 gets 1311 lets see what our fed guys will do to the market...... any break above 1362 gets 1368 gets towards 1434 highs opinions?
1336 done
1328 done
1321
1311
Wooooohooooo or Boooooohooooo
  • #8,803
  • Oct 31, 2013 7:08am Oct 31, 2013 7:08am
I been holding my incredibly bearish gold target of 1,038 by the first quarter of 2014. It seems to being still in place. I noticed a lot of gold traders positioned themselves for a move up to $1,420, but given the fundamentals nothing indicated such a move.

The Fed did not taper, but they did not increase. An increase would have been highly bullish for gold, but we must realize given the current $85 B/mo inflation is under control and is below the Fed 2% target.

There is low-inflation worldwide, some are even worried about deflation which would not bode well for gold. We can set up trades on technicals, but in the long run fundamentals will tend to trump technicals.


The dollar rally also doesn't help. And like I have mentioned before, the small bouts of physical demand will not support gold over the long-run.

Looking for 1,320 and 1,310 next
When the facts change I change my mind, what do you do sir
  • #8,804
  • Oct 31, 2013 7:12am Oct 31, 2013 7:12am
Quoting Pip Anon
I been holding my incredibly bearish gold target of 1,038 by the first quarter of 2014. It seems to being still in place. I noticed a lot of gold traders positioned themselves for a move up to $1,420, but given the fundamentals nothing indicated such a move. The Fed did not taper, but they did not increase. An increase would have been highly bullish for gold, but we must realize given the current $85 B/mo inflation is under control and is below the Fed 2% target. There is low-inflation worldwide, some are even worried about deflation which would...
ok we seem to have same view....
1038 has been my target since 1179 bottom
can I ask you why you think this target....fundamental or technical?
thanks,
G
Wooooohooooo or Boooooohooooo
  • #8,805
  • Oct 31, 2013 7:26am Oct 31, 2013 7:26am
Quoting gnomoneey
{quote} ok we seem to have same view.... 1038 has been my target since 1179 bottom can I ask you why you think this target....fundamental or technical? thanks, G
Both. The bearishness is fundamental but I create targets via technicals depending on the fundamentals. I joke w my trading buddies that Goldman and MS copied me because I established my target in May-June (they may have had a similar target internally but IDK if it was public at that time )

IMO gold is a trading asset. Those that purchase gold in terms to inflation will buy it at $1,200 or $1,300 regardless. Us common folk don't have the capital to purchase enough gold to defend potential inflation, so it's really on the backs of ultra wealthy. Institutions are more paper gold, and they have no qualms about selling a few billion in assets here and there. Physical demand doesn't drive the market IMO. Institutions do.

Unless massive inflation breaks out, we are likely to head lower.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-10-31-TOS_CHARTS.png Size: 92 KB
When the facts change I change my mind, what do you do sir
  • #8,806
  • Oct 31, 2013 7:36am Oct 31, 2013 7:36am
Quoting Pip Anon
I been holding my incredibly bearish gold target of 1,038 by the first quarter of 2014. It seems to being still in place. I noticed a lot of gold traders positioned themselves for a move up to $1,420, but given the fundamentals nothing indicated such a move. The Fed did not taper, but they did not increase. An increase would have been highly bullish for gold, but we must realize given the current $85 B/mo inflation is under control and is below the Fed 2% target. There is low-inflation worldwide, some are even worried about deflation which would...

If Carlrsberg did FF posting .
Bout time someone who trades gold posted something sensible
Officer ... I swear to drunk I am not God
  • #8,807
  • Oct 31, 2013 7:37am Oct 31, 2013 7:37am
Quoting Pip Anon
{quote} Both. The bearishness is fundamental but I create targets via technicals depending on the fundamentals. I joke w my trading buddies that Goldman and MS copied me because I established my target in May-June (they may have had a similar target internally but IDK if it was public at that time ) IMO gold is a trading asset. Those that purchase gold in terms to inflation will buy it at $1,200 or $1,300 regardless. Us common folk don't have the capital to purchase enough gold to defend potential inflation, so it's really on the backs of ultra...
When you have time listen to this video
jim Sinclair has alternative motives but he also have a lot of valid points
http://www.jsmineset.com
Wooooohooooo or Boooooohooooo
  • #8,808
  • Oct 31, 2013 7:39am Oct 31, 2013 7:39am
Quoting gnomoneey
{quote} ok we seem to have same view.... 1038 has been my target since 1179 bottom can I ask you why you think this target....fundamental or technical? thanks, G
until when is ur target of 1038 will done ....
Good taste is better than bad taste, but bad taste is better than no taste
  • #8,809
  • Oct 31, 2013 7:54am Oct 31, 2013 7:54am
ranging time now for gold?
1323-1332
a break lower will get 1311 imo....
Wooooohooooo or Boooooohooooo
  • #8,810
  • Oct 31, 2013 7:55am Oct 31, 2013 7:55am
Quoting hasmukh
{quote} until when is ur target of 1038 will done ....
march 2014....who knows....
Wooooohooooo or Boooooohooooo
  • #8,811
  • Oct 31, 2013 7:58am Oct 31, 2013 7:58am
Quoting gnomoneey
{quote} march 2014....who knows....
thanks so can short from here for 1038 for long term
Good taste is better than bad taste, but bad taste is better than no taste
  • #8,812
  • Oct 31, 2013 8:01am Oct 31, 2013 8:01am
Quoting gnomoneey
{quote} When you have time listen to this video jim Sinclair has alternative motives but he also have a lot of valid points http://www.jsmineset.com
I think a lot of these calls are like the "prophets" that say the apocalypse is around the corner. The world will end 12/12, I mean 10/13 I mean, I mean....

I think recession is a possibility, and potentially another 2008/9, but how is anyone ever forecast out 7-10 years? Who would be able to purchase $50,000 an ounce? Platinum would be 75k because you would need demand to push it that high.

Shoot it's hard enough to try and forecast a few months because the market is dynamic. The way things look we could be hitting deflation. Analysts from the top firms, most of the ones that are bearish now, thought gold would be $2,000-2,500 a year/16 months ago.

I don't disagree that the US and many other countries are in rough shape, but I think this "buy gold" is a false sense of security. Even if it did rocket to $3,000, the US's middle class is now considered the poor class and Europe is clearly in bad shape. The vast majority cannot buy kilos at current levels to hedge inflation in the size of the calamity these people talk about.

When the world ends, the only metals I'm carrying with me is lead, copper, brass and steel.
When the facts change I change my mind, what do you do sir
  • #8,813
  • Oct 31, 2013 8:26am Oct 31, 2013 8:26am
friends that market will bounce back from 1322 because this time movement is so fast and 20 dollars trading is o.k for today?
plz tell me anybody which point is better for short or can buy ?
.suggest me pls
Good taste is better than bad taste, but bad taste is better than no taste
  • #8,814
  • Oct 31, 2013 8:47am Oct 31, 2013 8:47am
65.9 pmi
gold going lower lower...........
Wooooohooooo or Boooooohooooo
  • #8,815
  • Oct 31, 2013 9:10am Oct 31, 2013 9:10am
Quoting gnomoneey
{quote} 1336 done 1328 done 1321 1311
1336 done
1328 done
1321 done
1311.....
Wooooohooooo or Boooooohooooo
  • #8,816
  • Oct 31, 2013 9:23am Oct 31, 2013 9:23am
Quoting gnomoneey
{quote} 1336 done 1328 done 1321 done 1311.....
1321 .......break or bounce
04/16/2013 significant 1321......
Wooooohooooo or Boooooohooooo
  • #8,817
  • Oct 31, 2013 9:25am Oct 31, 2013 9:25am
wow, as usual ur analysis is awesome, Thanks G for sharing the info

Quoting gnomoneey
{quote} 1321 .......break or bounce 04/16/2013 significant 1321......
  • #8,818
  • Oct 31, 2013 9:35am Oct 31, 2013 9:35am
Quoting ssaqeel
wow, as usual ur analysis is awesome, Thanks G for sharing the info {quote}
thanks ssaqeel

just plain old TA
Wooooohooooo or Boooooohooooo
  • #8,819
  • Oct 31, 2013 3:34pm Oct 31, 2013 3:34pm
if you haven't seen this

http://goldsilverworlds.com/money-cu...arkets-coming/
Wooooohooooo or Boooooohooooo
  • #8,820
  • Oct 31, 2013 3:59pm Oct 31, 2013 3:59pm
I love this article's title....

http://www.acting-man.com/?p=26913&u...8Acting+Man%29

NSA Chief: We Didn’t Do Nothing! Honest Injun!
Wooooohooooo or Boooooohooooo
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