Who's looking to Short GOLD???

GladiatorX said:
I think he was referring to the fact that you trade pins, there was a pin in gold and it failed - So he assumed you lost money... I suppose it could be the case that your not disciplined and don't take your own setups.

Or maybe, your intuition told you not to take the trade despite it being one of your setups. One the other hand, maybe it, by your rules, wasn't a setup at all... Which makes me wonder why you would post it in the first place ?

It just seems a bit.... Weird maybe? Post the setups you take or don't. Don't post the setups you normally take afterwards that happens to be a loser and say that you didn't take it - That just seems weird to me.
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Spot on with your analysis. I thought it was just me on this site who thinks he's full of bullsh*t.

Oh lookout, here come the 10p spreadbetters to defend their idol, even though they've lost all their piggy bank following his nappy pins method.
 
The strengthening dollar is cutting into demand for gold as the dollar reached a two week high against the euro. The correlation between gold and dollars has been very high as of late and will probably continue to follow the movements in the euro-dollar. In spite of recent dollar strength, I still see gold going to $1,100.
 
barryb said:
Spot on with your analysis. I thought it was just me on this site who thinks he's full of bullsh*t.

Oh lookout, here come the 10p spreadbetters to defend their idol, even though they've lost all their piggy bank following his nappy pins method.
Click to expand...

That's a bit harsh buddy? Non? Appears to be a straight/stand up guy to me...
 
GladiatorX said:
I think he was referring to the fact that you trade pins, there was a pin in gold and it failed - So he assumed you lost money... I suppose it could be the case that your not disciplined and don't take your own setups.

Or maybe, your intuition told you not to take the trade despite it being one of your setups. One the other hand, maybe it, by your rules, wasn't a setup at all... Which makes me wonder why you would post it in the first place ?

It just seems a bit.... Weird maybe? Post the setups you take or don't. Don't post the setups you normally take afterwards that happens to be a loser and say that you didn't take it - That just seems weird to me.
Click to expand...

He (and you it seems) have got the wrong end of the stick.

I guess that happens when people don't read ALL the posts ;)

I posted it when the pin formed (http://www.trade2win.com/boards/general-trading-chat/72504-whos-looking-short-gold-2.html#post899490) , advising not to take it but instead to go long. I explained in the post why I was trading counter to my usual setup.

If you're going to make disparaging comments, at least get your facts straight. Nothing was called after the event - it was called at the time, and was, as hindsight will show you, pretty spot on.

That's why I later quoted myself in my own post... to show what happened.
 
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barryb said:
Spot on with your analysis. I thought it was just me on this site who thinks he's full of bullsh*t.

Oh lookout, here come the 10p spreadbetters to defend their idol, even though they've lost all their piggy bank following his nappy pins method.
Click to expand...

LOL

Anyone take the nappy pin today on the hourly Gold? ;)

Enough said really...
 
Point of concern for gold from a demand point of view: Indian imports, the world’s biggest buyer, probably fell for the fifth month in a row during September as the price of gold is keeping jewelers from buying. India has imported less since April and imports last month were 21.8 tons compared with 98 tons a year earlier. In spite of this, I don’t believe gold is trading based on supply / demand, but more technicals and fear.
 
The soft dollar will continue to support gold prices and will be the driving force for further increases in gold. In the event there is an improving economy, then inflation concerns should drive investors into gold. In the event the economy takes a turn for the worse, then a flight to safety and a risk-free commodity will drive investors into gold. Gold is headed for its biggest three month gain in 6 quarters, so I would expect a consolidation period prior to another extended breakout. I am still long gold at these prices.
 
barryb said:
So how do you explain this comment you made the day after the formation of the daily pin, which you apparently took the other side of....?? I am all ears....
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I can understand, barryb, that since you think I'm so full of sh*t, you won't have bothered to read much of what I write, so just for the record: I'm a relatively short term swing trader.

When I said Gold was "about to dump", it was trading around $993 (this is all time stamped thank God :)) and fell to $987 almost immediately which is around 60 ticks. My original post was to wait for this "dump" and buy it up at $986 and $980.

The low, since that post, has been $982.
 
trader_dante said:
I can understand, barryb, that since you think I'm so full of sh*t, you won't have bothered to read much of what I write, so just for the record: I'm a relatively short term swing trader.

When I said Gold was "about to dump", it was trading around $993 (this is all time stamped thank God :)) and fell to $987 almost immediately which is around 60 ticks. My original post was to wait for this "dump" and buy it up at $986 and $980.

The low, since that post, has been $982.
Click to expand...

Your above excuse smells more fishy than the Billingsgate Market floor. (n)
 
Gold rose with the weaker dollar falling against major currencies.

Gold for December delivery rose $14.90 to settle at $1009.30 an ounce.
 
When I look at the weekly chart for gold I see one of those double tops that often tend to reverse for a bit.
The fundamentals for gold prob mean the double top can't play out to its full capacity (although, who knows? ) But I do suspect a pullback could be on the cards.
 
glyder said:
When I look at the weekly chart for gold I see one of those double tops that often tend to reverse for a bit.
The fundamentals for gold prob mean the double top can't play out to its full capacity (although, who knows? ) But I do suspect a pullback could be on the cards.
Click to expand...

Even the bullest of gold bulls have always said to expect pullbacks.
Great buying opportunities IMHO.

e.g. Schmidt's Gold Thoughts - Commodities News - Oil - Gold - Metals - Grains - Quotes - Managed Futures
 
glyder said:
When I look at the weekly chart for gold I see one of those double tops that often tend to reverse for a bit.
The fundamentals for gold prob mean the double top can't play out to its full capacity (although, who knows? ) But I do suspect a pullback could be on the cards.
Click to expand...

$650 gold within a year! Maybe within six months! (y)
 
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