Is it time to Buy Gold ?

BBB

Experienced member
1,071 3
Brakes post concerns itself to falling volume, Price and OI being a sign of strength (as stated on the url link) - this puzzled me too, and I assume its a typo.
 

bracke

Experienced member
1,286 12
twalker

Thank you for your reply but I don't think that you have answered my question, apologies if you have.

As BBB states above price, volume and OI all falling, how can this be market strengthening.

Regards

bracke
 

TWI

Senior member
2,536 254
Well because as price falls if OI and Vol are decreasing then people are not jumping onboard but rather closing out or sitting back. Therefore price likely to reverse. If it was strong move in the direction then OI and Vol would increase.
 

TheBramble

Legendary member
8,394 1,170
So you're saying decreasing volume, price and OI indicate a weakening market with potential to move to the upside at some point?
 

TWI

Senior member
2,536 254
I assume that's what the original post meant regarding Vol, OI.
I do not pay too enough attention to these myself, so not talking from experience. Seems reasonable argument however at least as reliable as an overbought/sold indicator.
 

bracke

Experienced member
1,286 12
twalker

I understand your reply but it seems to fly in the face of trading practice. ie. if price, volume and indicators are falling you get out until the indicators change or it bounces off support.

Regards

bracke
 

TWI

Senior member
2,536 254
I find indicators are trailing indicators so often if you wait for them to turn you already missed the move.
I am a real advocate of price action over indicators but it took a while to get there.
A long time ago somebody told me to "trade what you see", I didn't understand that for a long time but it is very important.
 

bracke

Experienced member
1,286 12
twalker

I am in total agreement.

After 2 years of market experience its price action, support/resistance and sma for me plus trade what you see not what you think.

Others may do well with indicators - so be it but they are not for me, or if they are - in very small and limited amount.

Regards

bracke
 

ravenglass

Member
53 1
There are a lot of commentators from the USA who have been saying buy gold & sell your stocks for years. They seem obsessed by gold!
 

josbarr

Active member
214 2
People listened now that it's above $500.
 

TWI

Senior member
2,536 254
Actually my favoured long now is in Palladium, it has the best fundamenetals to back it up. Keep an eye on that puppy. It is small volume compared to the others but I think it will be a good bet this year.
 
 
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