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

This is a discussion on Gold calls.Long term -medium term and intraday calls in gold is here !. within the Commodities & Money Markets forums, part of the Markets category; Originally Posted by cas84utd You should buy a book based on the works of R N Elliott. Such as: R.N. ...

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Old Sep 11, 2008, 10:41pm   #3046
Joined Jun 2008
Which book did you the better?
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STAMBLING IN THE DARK.
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Old Sep 11, 2008, 10:42pm   #3047
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I have not read either yet but planning to get one next week...
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Old Sep 11, 2008, 11:00pm   #3048
Joined Oct 2006
Quote:
Originally Posted by wibblewibblewibble View Post
Okay, thanks guys, I really appreciate that. I'll look to re-entere at 751-752 or so.

cheers,

WWW
Lets not buy until suji calls tomorrow!

Pull up todays 1 minute candle stick chart.

Draw a line connecting the following highs -

757.3 @ 08:07

753.3 @ 14:05

This will then show up current upper resistance level currently around 747.5.

If we break through it will move higher to test 759 where it will be met with further resistance.

If we fail 747.5 then back down where i'm looking to buy at 737.2
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Old Sep 11, 2008, 11:03pm   #3049
Joined Sep 2008
now testing 749... go go go
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Old Sep 11, 2008, 11:06pm   #3050
Joined Oct 2006
Looks weak, may fall back down and test 747.35.

This will need to hold if we want to see 759!
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Old Sep 11, 2008, 11:10pm   #3051
Joined Sep 2008
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Originally Posted by cas84utd View Post
now testing 749... go go go
The euro is over 1.40. i thought someone would defend it at 1.39.

oil is giving us no help here. the guy who owns the locale gas station told me today that crude may be down but gasoline prices remain firm after the recent decline. i paid 4.24for premium today.
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Old Sep 11, 2008, 11:12pm   #3052
Joined Sep 2008
Quote:
Originally Posted by yvij View Post
Looks weak, may fall back down and test 747.35.

This will need to hold if we want to see 759!
"This will need to hold if we want to see 759!"

understatement!
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Old Sep 11, 2008, 11:13pm   #3053
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Originally Posted by 55mph View Post
The euro is over 1.40. i thought someone would defend it at 1.39.

oil is giving us no help here. the guy who owns the locale gas station told me today that crude may be down but gasoline prices remain firm after the recent decline. i paid 4.24for premium today.
I doubt we see oil fall below $100.

Friday will be interesting and I think crude will rally up!
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Old Sep 11, 2008, 11:16pm   #3054
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Originally Posted by yvij View Post
I doubt we see oil fall below $100.

Friday will be interesting and I think crude will rally up!
an oil rally would make our job easier.

any concerns about late day liquidation on the crimex? it's friday.
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Old Sep 11, 2008, 11:20pm   #3055
 
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Ike should wreak some havoc on the supply side, I see Oil Bid pre-European Open.
If I find a Gold Offer in Asian trading in the low 740s, I may be inclined to pay it.

Last edited by FXPimp; Sep 11, 2008 at 11:26pm.
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Old Sep 11, 2008, 11:23pm   #3056
Joined Oct 2006
Funny how the last hurracaine they slamed oil down hard so clear out all the people holding long contracts.

Now they have caused fear as people will not want to go long incase another fall in oil.

Ike will hit hard above 100 MPH and may turn to CAT 3 tomorrow.

Crude will rise as $100 is considered fairly priced by most people in oil business.
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Old Sep 11, 2008, 11:25pm   #3057
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747 needs to hold or we are going down town charlie brown!
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Old Sep 11, 2008, 11:27pm   #3058
Joined Jul 2008
Quote:
Originally Posted by 55mph View Post
what i mean to say is that gold can fade 751 or 752 as the run loses steam.
I agree it CAN do, but I'd rather have SOME comfort that its gone through. I got long this morning and took it off when it went through 43, as not sure where its going next. If it gets $2 through an important level, then at least I've got some wriggle room and can set my stop just below.

As I write this, its been up to 50 and then come off back down again. I'm not saying I'm any more right than the next guy (if the next guy is Sujith, I'm definitely a lot less right!) but you've got to have some method and discipline, and some idea where to put your stops or you get killed in this market - theres more than one person on here hurting because they didn't put some stops in.

I'd be happy to hear your thoughts if you think my reasoning is wrong....
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Old Sep 11, 2008, 11:30pm   #3059
Joined Jul 2008
Quote:
Originally Posted by yvij View Post
Lets not buy until suji calls tomorrow!

Pull up todays 1 minute candle stick chart.

Draw a line connecting the following highs -

757.3 @ 08:07

753.3 @ 14:05

This will then show up current upper resistance level currently around 747.5.

If we break through it will move higher to test 759 where it will be met with further resistance.

If we fail 747.5 then back down where i'm looking to buy at 737.2
You certainly called the fail at 759 about right!!!

Well done
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Old Sep 11, 2008, 11:35pm   #3060
 
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It will be interesting to see if the Short Dollar squeeze is over...
Is your Hedge Fund intact?
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