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

[CrashGuard]

880 tomorrow anyone ???
I'm thinking of shorting this low volume gold..

I'm not really sure about this, more bad news is coming out. Gold is slowly moving up, but it is possible it can slide down, but I doubt it will go below 912. But anything happen.

Volume was low because people are still rolling over. It is not that low actucally, they are just slowly switching over to new contract.

 

[Sprawl123]

Although always treated with caution, Cycle lines joining 01MAY and 12JUN lows on gold suggest that we already hit a low on 24JUL, so should be moving up short term.

CrashGuard is right, there does seem to be more bad news being released, pushing S&P down 1.8% to close on the lows. With EUR, JPY and crude all rallied against dollar, maybe we see a follow through next couple of days and gold will catch up.

Also the cycle lines indicate the next low will be about 30AUG: the support trendline joining the same lows (1MAY & 12JUN) has a price of 885 on 30AUG.

All in all I think we head higher, maybe 960, then start to move down, complying with seasonality to hit lows around 880, before taking off in Autumn.

This is all amateur tech analysis, so happy to read any commentsd you have if you see any holes in this view

 

[yvij]

Thanks S Rock and J Arther for your sound advice.

I have been studying the chart and can easily see $880.

Ha ha you all must think Im crazy!!! Im used to trading big and have done well in the past.

I was in Gold at 110 GBP (1100GBP per $1) but was forced to reduce position size to now 70 GBP.

This hit me for a loss of 9.5K.

I will try to preserve capital as all I have left is 30K.

If I get back in Gold say $880 and ride it all the way to $1000 plus I should be back in business he hopes! LOL

I'm 29 and was hoping to make the big bucks by the time i'm 30.

You boys both seem to be doing well with small consistant gains.

I tend to overkill my position and go too big but this time my funding has let me down.

So how up are you both in terms of profit?

We should pool together cash in one account and cain the market! Ha ha

 

[yvij]

Sprawl I have heard about time cycles and this does play a significant roll in the markets since all pricing is random.

Most TA seems to fail as its obvious choice for most traders.

Do you trade the time cycle theory?

 

[Mr.J-Arthur]

I made 11% two weeks ago Yvij
but I'm coming out of the hole I dug from "investing" in stocks...turns out investing is NOT the same as trend following! Very very different styles. I'm now a scalper, day trader and trend follower.

Lost some, made some, made 1 mistake in stocks and lost the most in that sector when I was "investing" and not "trading." I realized that I'm better at trading and investing and have been actively trading past 6 months. I wasn't very active at the start, but now that I dropped out of college I have more time and money to trade! I was always checking my stocks at the art college I attended.

 

[sujithsstorock]

Yes keep this

buy gold around 928 $. Stoploss 923 $ target 932-934-939$

low was 929 $.First target met.And still holding.3 $ profit.

 

[Mr.J-Arthur]

Here is something funny I found-it's good to watch when market is dull or when you need a break!

Stock Futures Trader Having Rough Day Video

hehe

 

[welshandy1]

good evening / morning guys!
Crude doesnt look that steady over 126 at the moment. So which way do we think Gold will go today?
good luck to all

 

[tantra]

anyone care to call crude?

 

[Wideboy]

Short Gold @ 930 target 922

 

[sujithsstorock]

Risky buy gold around 928-930 $. Target 933-935-937-940-942-946-950-953$. Stoploss 921.8 $


crude buy above 125.6 $. Stoploss 124.3 $. Target 126-126.8-128.2-129 $

 

[Wideboy]

Hey Suji, we always seem to trade the opposite direction!

 

[sujithsstorock]

Lol. Your target can't be ruled out.Check stoploss. I suggest to wait to enter market.Keep a strict eye on 'euro ' today ,instead of crude.

 

[Wideboy]

Why the Euro?

 

[welshandy1]

I agree - Crude buoyant at $126+, so long on Gold at $929, aim for $932

 

[welshandy1]

well I wussed out and took 1$ profit

gonna wait and see which way this plays out for a bit...

 

[sujithsstorock]

Euro is king today its technically looking for a breakout.So he will lead first.

 

[Wideboy]

Good call welshandy, Crude also looks weak to me, still holding my short

 

[sujithsstorock]

Yes.Below 926 $ gold looking weak.But will go up by us closing.

 

[welshandy1]

are you still long S-rock?