LINK /// So gold is now up three days and if a new low within two days the market will immediately go back to the 560 level. If it can move higher past 4 days of rally, the December contract should be able to hit 662 by next Monday. If that occurs next Monday will be very important in price and time...
Seasonally Gold usually displays strenght from mid September through to the end of the first week in October.
http://www.futuresbuzz.com/seasonal_charts.html
Click on the 'gold' tab to take a look.
http://www.futuresbuzz.com/seasonal_charts.html
Click on the 'gold' tab to take a look.
andycan
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Hi Hook Shot
spot on long term as i read its a short now we need a counter trend move which is up ,geometrically friday should be the high simply because with the likes of gold its a harmonic market and all counter trend moves up have been 0.636 of the previous move up on the daily but structurely 615 ish is realistic
looking at the weekly we could have another week up or sideways.
ERA gold is not a seasonal commodity maybe statistically during that period it tends to be up, i guess its all possible
also gold likes to find support and resistance index funds love to buy gold because of the nature of the big buyers they are clean buyers which means they buy of support but they cant sell short only cover there is no support until $500 if they are going to be buying this market they wont go into full force until $690 area if it keeps going up
spot on long term as i read its a short now we need a counter trend move which is up ,geometrically friday should be the high simply because with the likes of gold its a harmonic market and all counter trend moves up have been 0.636 of the previous move up on the daily but structurely 615 ish is realistic
looking at the weekly we could have another week up or sideways.
ERA gold is not a seasonal commodity maybe statistically during that period it tends to be up, i guess its all possible
also gold likes to find support and resistance index funds love to buy gold because of the nature of the big buyers they are clean buyers which means they buy of support but they cant sell short only cover there is no support until $500 if they are going to be buying this market they wont go into full force until $690 area if it keeps going up
andycan
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Nice work Andy
whether you get a chance to buy at 575 is another question i dont have gold continues only the monthly contract dec low was all sessions 576.8 im initially looking for a pop to min 607 ideally 615-620 but could go to the 627 would also expect gold to take its sweet time to get up there then im looking for it to drop gaining pace and momentum on the way down as for the timing i have not sat down and worked it out just yet, i tend to trade short term from scalping to swing trading max 3-5 days so i have plenty of time to change my strategy
i like the 577
Andy
whether you get a chance to buy at 575 is another question i dont have gold continues only the monthly contract dec low was all sessions 576.8 im initially looking for a pop to min 607 ideally 615-620 but could go to the 627 would also expect gold to take its sweet time to get up there then im looking for it to drop gaining pace and momentum on the way down as for the timing i have not sat down and worked it out just yet, i tend to trade short term from scalping to swing trading max 3-5 days so i have plenty of time to change my strategy
i like the 577
Andy
TWI
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Some buying coming in across commodities sector this morning. Likely related to the LSE ETF launches as well as oversold conditions and support buying.
Gold is bouncing off the weekly uptrend and June support band. Pretty constructive but will need to hold on into friday close and will find increasingly stiff hurdles to overcome as it apporaches low 630's. I always play gold from long side and I got long this week after being on sidelines for a while.
Gold is bouncing off the weekly uptrend and June support band. Pretty constructive but will need to hold on into friday close and will find increasingly stiff hurdles to overcome as it apporaches low 630's. I always play gold from long side and I got long this week after being on sidelines for a while.
andycan
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im currently long gold but its a counter trend move and i hate fighting the trend but if it has a few bucks then i will take it
i much prefer to short in general
gold has a small base from which it can propel it self but the rise will be drawn out as i see it
Andy
Andy
i much prefer to short in general
gold has a small base from which it can propel it self but the rise will be drawn out as i see it
Andy
Andy
andycan - Up 8d and really gone nowhere might confirm your view of CT. Interested about your view that you prefer to short. Is that for Gold or just your style ?
If just for Gold ....... have you been shorting the pullbacks in this 4/5yr bull market ?
Just curious as rav might say
HS
If just for Gold ....... have you been shorting the pullbacks in this 4/5yr bull market ?
Just curious as rav might say
HS
andycan
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To Be honest Hook Shot i just seem more comfortable shorting dont get me wrong i wont short in a bull market but i seem to make better trades as a bear trader but looking at my stats my accuracy is about the same for buyinbg or selling so it must be psychologicalHook Shot said:
Andy
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turtle trader
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andycan said:
You might be alright..... but yes perhaps you should have waited for TODAY to try shorting Goldie - I did give you advance notice - HeeHee. Still fumbling my way through this timing lark ......... Then again shorting Gold on Friday, ahead of a weekend might not be prudent.
