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

[Dentalfloss]

spot gold
hourly data
looks way overcooked
box size is $5.50 by 3 reversal
close data

 

[Dentalfloss]

panic stricken investors ran for gold last week thinking it was armageddon...lol
they might be nursing a temporary loss this week
just posting the dow chart to explain why
price had made a breakout which was unsupported.the column of "X" did not retrace..a false breakout..ie a fake.just went up.therefore there was no support on this chart.any bad news and the market tanked
price is just back into support zone while the market has a rethink
trend is down,but it is not a selloff..no break as yet of 10750 support area
10 min data.50 point box size

800 taken

 

[sujithsstorock]

panic stricken investors ran for gold last week thinking it was armageddon...lol
they might be nursing a temporary loss this week
just posting the dow chart to explain why
price had made a breakout which was unsupported.the column of "X" did not retrace..a false breakout..ie a fake.just went up.therefore there was no support on this chart.any bad news and the market tanked
price is just back into support zone while the market has a rethink
trend is down,but it is not a selloff..no break as yet of 10750 support area
10 min data.50 point box size

800 taken

nice outoook mate. i agree .

 

[activecommodity]

resistance 1905$

 

[patong]

resistance 1905$

1906.37

Any round number will serve as significant. I am expecting a $100 to $200 retrace sooner or later. watching the 1925 area for exaustion before a continuation of primary trend.

supp 1850 1819 , intraday 1876.88

4hr completion GMT+2 possible doji reversal , watching 1894.95 high and 1874.72 low

 

[Dentalfloss]

1890-1897 area
lets see if this holds or gets broken and goes t0 1904-1911 area

 

[patong]

Interesting charts there Dentist. Strong opening again today , current price 1905.87 high today 1912.18 Resistance 1910.23 and 1913.29. I am sure we should see a big retrace sooner or later.

 

[Dentalfloss]

$1911 area capped it.shorted down to 1875
weekend gap in 1860 area

 

[Dentalfloss]

the resistance area played out well due to chinese remarks about diversifying their currency exposure.hence euro rallied.am.also talk of qe3.so fundamentals and technicals together

 

[Dentalfloss]

here you see it...
a false breakout in gold.the last breakout was unsupported.the column of X did not retrace and hold with a support area on this chart.so without a credible support area showing it was bound to have a big move

 

[Dentalfloss]

hourly data.spot
$10 box size

coiled up...gettin ready to pop

 

[sujithsstorock]

usd/jpy stay in buy 7722 tgt

 

[sujithsstorock]

usd/jpy now 7725

 

[sujithsstorock]

eur/gbp stay in buy,tgt 8780 sl 8550 cmp 8670

 

[Dentalfloss]

dollar index
daaily data
u gotta an unsupported break from 6 sept..a fake
is this a rally in a downtrend or a new uptrend..too early to tell

 

[Style876]

i am confused about gold ,need some enlightment to go long or short

 

[d-lod2]

i am confused about gold ,need some enlightment to go long or short

Gold has broken ascending triangle on the lower side, the long term target looks like 1450

 

[AdventureForex]

Today was very interesting, any good trader should have enjoyed this week action, at least we can say "interesting". One of todays movers was Gold,XAU/USD. In my opinion we have not seen the top of gold yet, and todays actions favours a longish position if we analize it with my primarly tools that are Price Action and VSA.

Here-> http://screencast.com/t/D6tvDHPxj you can see todays Gold,XAU/USD chart.

Now we have to look for entrys and Risk management.

I have entered Long at 1.695, have put my Stop loss at 1.691, risking 1,5% of my account. My TP is now at 2.000. This mean that the trade has a Risk:Reward of 1:70. That means if it works more than 1,43% of times this trade has Postive Expected Value. Also means we will increase the account with a 105% of our trading capital if we achieve the TP.


**** In case we hit Stop loss I would look for more longs 1.663 and 1.673.


Have a nice day.

 

[Sidekicker]

Gold has broken ascending triangle on the lower side, the long term target looks like 1450

nice one.

 

[Leia]

I think GOLD can move higher from a medium term perspective (weekly chart very bullish) but I don't see an entry yet on the lower (Daily timeframe) a comprehensive break of recent resistance @ 1,766 to 1,800 is required first imo

weekly chart attached, for some reason the daily one wont load?