2nd of September was the day!

No, I'm not jumping the gun.

If you read the first post (many don't) you'll see that the idea of the thread was that inflation was here and gold would take off from 980 for a suatained period. A few months in and the price is struggling under the weight of speculative action.

I don't carry luggage. I just found it bizarre that 1 year after the oil bubble, people can be dumb enough to play the 'this time it's different' game.
 
Preparing a new special Day could be as early as the 20th Jan

Hi chaps,

Glad to see you kept the fires burning and the repoirte flowing.

I think we are about to add a new day to the 2nd Sept 2009, with the resumption phase about to kick off again soon in my view.

I have blogged and recorded a video for the level of Break Out at $1,146.06 - However the next move could kick off sooner still at the $1140.5 level on the hourly chart.

Enjoy the clip.

http://www.youtube.com/watch?v=3jMDHuzP3j4

Happy trading for those that can stomach longs :whistling

First stop up to $1,175 level .. before chugging all the way to $1,288
 
counter_violent said:
Hi Baptist...ineresting Vid...cheers.

What do you make of this?
http://www.viewzone.com/fakegold.html
Click to expand...

Great Link, highly believable they exported their flawed and worthless sub prime debt, It would not surprise me if they duped Britain with fake bars and many other nations, when disclosed they'll blame foreign subterfuge on a homegrown issue.

Have to laugh, caution for those that use ETF's. trade the actual commodity imv still waiting to be seen if Silver will become lead indicator it remains the yellow stuff for now.
 
Hi Baptist,

You may possibly be interested in this (longer term, I think) analysis from Ashraf Laidi.

http://www.cantos.com/charts (You have to register, but it's relatively painless).

Crudely paraphrasing, although he's long-term bullish, he sees a move down to ~1070 first.
 
I thought the conspiracy theorists had been saying for years that there was no longer any (US) gold there, and some have been calling for a Fed Audit for some time.
 
BO to downside, right about major move, wrong direction small trifling loss at BoA $194 Billion in a nonsensical way leads flight to the Dollar and Gold pays. I think thast probably Britains entire defence budget with muchos change, for one bank almost like RBoS a major component of GDP!
 
montmorencyt2w said:
Hi Baptist,

You may possibly be interested in this (longer term, I think) analysis from Ashraf Laidi.

http://www.cantos.com/charts (You have to register, but it's relatively painless).

Crudely paraphrasing, although he's long-term bullish, he sees a move down to ~1070 first.
Click to expand...

Thanks Monty,

Yup he is a decent TA man. We both got the break being on he was right on direction, difference is I believe $1074 will hold, and we will see upside and new highs in months to come.

By the way here is me on the same channel in December on Cable.

Said whilst I am long term long at 1.645, there would be a better point to get in lower down. Went as low as 1.5833 on 30th, do not think we will see those again despite current downswing.

http://www.cantos.com/node/5020/company/themarketsniper.com/project/5536/term/Cantos+Charts

TB
 
The Baptist said:
Thanks Monty,

Yup he is a decent TA man. We both got the break being on he was right on direction, difference is I believe $1074 will hold, and we will see upside and new highs in months to come.

By the way here is me on the same channel in December on Cable.

Said whilst I am long term long at 1.645, there would be a better point to get in lower down. Went as low as 1.5833 on 30th, do not think we will see those again despite current downswing.

http://www.cantos.com/node/5020/company/themarketsniper.com/project/5536/term/Cantos+Charts

TB
Click to expand...

AL is more than a technical analyst though. His big thing is intermarket analysis.

Will have a look at your video when the dust has settled over the post-Obama speech perturbations....
 
The Baptist said:
Big Dollar fight back in large Volatility range..
Click to expand...

Worked well for me, as I am long USD :)

However, I later got "Obama'd" especially on USD/JPY. I can shoot myself in the foot well enough without his help :(

Looks like Gold may have been as well. Timing would be about right I think.
Low of ~1088? Has bounced back a bit though.
 
OK... so 2 months ahead of schedule we hit the $1295 - $1300 Long Run Target.

The Impulse from the Lows pre run up to $1032 and back down to $682 (Cr Crunch Low took 14 months.. we have hit Target just a touch over a year from original post..)

The Premise of the Thread being 2nd September's take out of $962 & subsequently $971, was the begining of the Break out move to $1300. without the Stop Loss level of $944 being seen again.

This proved to be correct, with the biggest pullback being approx 15% at its worst, this trade has met its objective ahead of schedule. A number of Sportsmens bet's won ; - )

Gold-weekly1-26.9.10.png


Note the confluence of original Target and later Target generated from the 15% Pullback, more on this later

Gold-Pattern-within-pattern.png


Here is the Pattern within a Pattern that generated a 1:19 Risk Reward return in just over a year.

leaf


The Money Management sheet failed to Load 1:19

I will refer to what next, in the next post. But just kinda wanted to Bookend the original Founding statement... 2nd September was the day! - Saint, and Mr Rothschild, Technical Fundamental will no doubt visit to pay plaudits...

Also noticed there more ready to accept The Inflation/Hyper/Stagflation that awaits then the multitude of deflationists here before..Japan..etc.. yade yada.

Any way to Poborsky and other friends well done. Unfortunately I cannot lay claim to be in in the trade the whole way from Alpha to Omega, and satisfied myself with riding the up legs and set ups along the way...most would have battled with the 15% pullback as reasonable as such a pullback was , my Time frame felt shorter than the Year Position Hold implied.. something to work on maybe..

Next Post for a look forward.
 
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