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

[Dentalfloss]

so into next week
because the downmove has been pretty explosive.we can track the trend with a log scale chart
weekly log scale;the trendline picks up trend res at 1370 area
so..we can see horizontal res at 1400 area
trend res at 1370 area
horizontal res at 1336
prev supp which could be res at 1321 area
supports...all horizontal at
1272 and 1220 area
all these areas could be hit depending on the news

note well...on a log scale chart the res and supp are not as accurate as an arithmetical scale chart
it just shows up the trend more clearly when there has been an exponentail move

 

[Donzayy]

So what do you think is right to do dentist? It's a hard call

 

[Dentalfloss]

So what do you think is right to do dentist? It's a hard call

this is how it looks on arithmetical scaling

the big palookas should be in the 1370 and 1400 areas
it should depend on reaction to dollar index
we said last weekend that the chart had a bullish tendency
so..alot of short sellers probably lost money
i think ..all we can do is judge reaction in those big areas

 

[Atilla]

Get ready for the big drop... Doubt 1200 will hold.

 

[Donzayy]

What makes you think it's gonna drop? Might on fact go up

 

[Atilla]

What makes you think it's gonna drop? Might on fact go up

It can only do one of three things right?

Pick your choice and place your bet

 

[Donzayy]

Is anyone gonna short?

 

[Dentalfloss]

Is anyone gonna short?

but we had it marked as rangebound since friday....so was just trading the range
here are todays moves so far on the 5 min
entries and exits marked
that new downtrend seems to be implying that there is dollar strength..but still too early to say

 

[b_p4tel]

long was the winner

 

[Dentalfloss]

longs won
but we had a nice scalp from 1336 res that we called at the weekend

 

[b_p4tel]

looks like beginning of major up trend

 

[Donzayy]

Damn missed out again, such a profitable situation

 

[Dentalfloss]

as we said ten days ago and also last weekend
the chart was looking bullish within that downtrend
plenty of pips banked
remember...the big palookas are in the 1370 area and 1400
this is now where we stand
we can see from weekly chart
at res now/aqua
then red line sits at 1370 area
horizontal res at 1400 area
horizontal supports can be picked up all the way down to 1250

 

[Dentalfloss]

overnight gold 15 min
1342 was an overshoot imho and had to retrace back to 1336 area
trade left in overnight and hey presto ..a nice new downtrend strated
watch that trend
needs to stay above 1330 area

note..1336 was res on this downtrend

 

[Donzayy]

Gold may continue to go higher, what do you think dentist? Go long now or short

 

[Dentalfloss]

Donny.... we gave you the trend this morning
all you had to do was follow it
this is how it turned out on 30 min
trend down..then a break of trend and a move up to 1336 area

 

[Donzayy]

I'm new to trading and still trying to grasp the best way possible to make profit, how do you know when to follow a trend? Sometimes it's so volatile and I've lost money many times like that so how long should you follow a trend before you decide to short or long?

 

[Dentalfloss]

1 minute at the 1330 support area
the move up to 1336 pivot and the scalp off the pivot

 

[Dentalfloss]

I'm new to trading and still trying to grasp the best way possible to make profit, how do you know when to follow a trend? Sometimes it's so volatile and I've lost money many times like that so how long should you follow a trend before you decide to short or long?

gold is not really for newbies
if you are new..then ask malaguti..he is good..i am sure he will help you

 

[Donzayy]

Who is malaguti?