Gold calls.Long term -medium term and intraday calls in gold is here !.

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Old Aug 4, 2015, 1:18pm   #11345
 
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Old Aug 4, 2015, 9:20pm   #11346
 
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Quote:
Originally Posted by sujithsstorock View Post
We are holding our sell in crude
The latest Speculative Sentiment Index (SSI) data support you:


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Past performance is not necessarily indicative of future results.


The SSI Snapshots indicator for USOil is at 4.1563, which means there are 4.1563 long positions for every short. In other words, over 80% of FXCM's retail client base are long. Since SSI is a contrarian indicator, that's a strong bearish signal.

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Old Aug 6, 2015, 3:59pm   #11347
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We are holding our sell in crude
Hey mate, was wondering where you think the bottom for oil is? I'm in a sell position myself and was thinking it'd be around now, given it's the level it rebounded upon last time at around 4500, but it seems to have broken that. Obviously the demand concerns e.g. china etc still remain and supply is still very high.. so $40?
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Old Aug 6, 2015, 6:29pm   #11348
 
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Originally Posted by Archaic View Post
Hey mate, was wondering where you think the bottom for oil is? I'm in a sell position myself and was thinking it'd be around now, given it's the level it rebounded upon last time at around 4500, but it seems to have broken that. Obviously the demand concerns e.g. china etc still remain and supply is still very high.. so $40?
we are holding it still. honestly when we wentshort at 58$ we didnt expect this. so currently stop is at 49$
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Old Aug 11, 2015, 8:53pm   #11349
 
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Originally Posted by sujithsstorock View Post
we are holding it still. honestly when we wentshort at 58$ we didnt expect this. so currently stop is at 49$
Great trade!
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Old Aug 12, 2015, 12:26am   #11350
 
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Originally Posted by Jason Rogers View Post
The SSI Snapshots indicator for USOil is at 4.1563, which means there are 4.1563 long positions for every short. In other words, over 80% of FXCM's retail client base are long. Since SSI is a contrarian indicator, that's a strong bearish signal.
Since my last SSI update for USOil, the retail crowd has only increased their long exposure with 10.0877 long positions for every short.


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Past performance is not necessarily indicative of future results.


Since SSI is a contrarian indicator, this suggests that a further drop in oil prices is still possible.
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Old Aug 13, 2015, 5:12pm   #11351
 
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Gold a winner from China currency devaluation

Gold enjoyed a wild ride in the previous session which carried on today, as consecutive low renminbi rates pressured other Asian currencies to this year's record lows and threatened widespread currency devaluations. Gold suddenly gained back appetite as a storage of value versus deflated currencies.


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Past performance is not necessarily indicative of future results.


Downtrend signal in gold has finished and all eyes are on the upside for now, with a resistance level ahead at 1134.2 and the 38.2% Fibo at 1132.79. Daily momentum seems to peak today after four days of strong gains with prices in higher-high and higher-low fashion. Downside extension is limited and an indicative support level is found at 5-day moving average at 1110.95.
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Old Aug 13, 2015, 9:54pm   #11352
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Originally Posted by Jason Rogers View Post
Gold enjoyed a wild ride in the previous session which carried on today, as consecutive low renminbi rates pressured other Asian currencies to this year's record lows and threatened widespread currency devaluations. Gold suddenly gained back appetite as a storage of value versus deflated currencies.


Click the image to open in full size.
Past performance is not necessarily indicative of future results.


Downtrend signal in gold has finished and all eyes are on the upside for now, with a resistance level ahead at 1134.2 and the 38.2% Fibo at 1132.79. Daily momentum seems to peak today after four days of strong gains with prices in higher-high and higher-low fashion. Downside extension is limited and an indicative support level is found at 5-day moving average at 1110.95.
Interesting analysis. You're biasing gold to the upside if I interpret you correctly. I guess you're talking from an intraday perspective as in tomorrow (Friday). From late 2013 there's been a diminishing quarterly spike cycle providing opportunities to sell. Diminishing as in the spikes are getting lower and the price heads toward a significant support level at 1k. With 100 points to pay for I don't think I want to sell into that level, but neither do I see any immediate optimism for buying. 'Storage of value versus deflated currencies'? Why would a diminishing commodity price be considered a storage of value. China's markets are still up 70% YoY. FDI is amazingly low so contagion from a dramatic slump is low. And the money being pulled out of a spooked market by domestic mom & pop investors is going into property, which will serve as a greater brake on slippage than and government directed TARP-like intervention. To summarize, China currency devaluation as a result of minor stock revaluation will have little positive impact on gold.
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Thanks! The following members like this post: counter_violent , Jason Rogers
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