Tomorrows Gold Price ???

[malaguti]

Yep agreed but I see a downward channel and the price bumbping between the two.

imo longer term setup is for another big fall but short term bullish. :whistling

over 1440 is bullish for me, completing a H&S reversal
anything else is flat as far as im concerned

 

[Rockfeller]

Watching reaction on 1318 area. Not very strong support area. 1305-1300 remains key support zone.

 

[Rockfeller]

Yep agreed but I see a downward channel and the price bumbping between the two.

imo longer term setup is for another big fall but short term bullish. :whistling

Sorry that I was not clear about my bullish bias.

My long term bias is bullish. (From 1000 - 700) I would buy with my eyes closed.

 

[Atilla]

Sorry that I was not clear about my bullish bias.

My long term bias is bullish. (From 1000 - 700) I would buy with my eyes closed.

Agree and so would I. At those prices mines would be going out of business like flies.

 

[Rockfeller]

1.3345-13352 resistance zone held nicely.I think gold will retrace a bit and then breaks out to the upside.

 

[Atilla]

1.3345-13352 resistance zone held nicely.I think gold will retrace a bit and then breaks out to the upside.

This is where I have no opinion. Tough call. :whistling

Watching, listening and eating good delicious food :cheesy:

 

[Rockfeller]

Went long from 1326. TP was on 1340 but initially it missed my target and I decided to close my position. SL were on 1320 but I would have closed my position on BE

Currently I have no bias.

 

[Rockfeller]

Currently I have no bias on gold. Watchin PA on 1325-1328 zone.

 

[Rockfeller]

Gold has had a rather disappointing grind higher.

Watchin reversal signals on 1333 and 1343.

1318 remains support level.

 

[Rockfeller]

On gold watchin price action on channel top and 1318

 

[Rockfeller]

Short term I have a negative bias on gold 1250 seems a valid target.

 

[Rockfeller]

My gold chart for today before NFP.

 

[Rockfeller]

Bias is bullish

 

[Rockfeller]

I have neutral bias on gold. Just looking price action.

 

[robertofx]

I have neutral bias on gold. Just looking price action.

Same here mate. 50/50 for both sides. Don't have a clue

 

[Atilla]

Same here mate. 50/50 for both sides. Don't have a clue

We're pretty much at pivot point for gold. 1300. Can't see it going much either way for now. However, I do think the industry has some head on winds; like how to make money on falling demand.



:whistling

 

[Rockfeller]

It all depends what Bernanke decides today. If they sound dovish then gold should rally if not then down. I am not trading much today. Just range. It will be interesting to see can it break above fib zone.

 

[Atilla]

It all depends what Bernanke decides today. If they sound dovish then gold should rally if not then down. I am not trading much today. Just range. It will be interesting to see can it break above fib zone.

Amazing stuff - Fed says economy too weak to begin taper


And what happens to gold ? 1343 at the mo...

Best not to trade the news imho. :whistling

 

[rsh01]

Best not to trade the news imho. :whistling

i want to hear from a fundamental trader who is doing ok other than those buying the all time highs in eq indices, cos any fig good or bad equals a BUY.

a few months ago it was:
good data = sell stocks cos possible Taper
bad data = buy - cos QE to infinity

now the data (which is fudged anyway) is immaterial, what is important is the velocity of money, & maintaining that. the fed released figs of the s&p performance on POMO days vs the s&p on non POMO days - they confirmed they have caused the ramp. & even Fed members are agreeing that stocks (bonds, property) are inflated bubbles.

atilla, to look for price reactions in gold on the back of fundamental events such as QE is now a lost cause imo cos its so clearly a manipulated market - see the fri a few weeks back for an example. the hedge funds are now out (flat) - the momo trade is no longer, but asia is buying phys gold in ever increasing quantities. paper gold will prob go to 0 when comex cannot even meet the 1% of the paper counterparties request for delivery. prior to that paper gold will prob fluctuate like it is now, with limited correlation to any other market / political moves.

i do understand that you trade it on diff t/f's & using TA.

am just talking 'fundamentally'.

 

[rsh01]

the thing i am struggling to work out is if & when the US defaults / goes bust / china pulls the plug (whatever way it happens), will the USD depreciation:

1. cause a ramp in US stocks aka zimbabwe/venezuela (moreso those stocks that have global exposure ie non $ earnings) or
2. will stocks collapse cos everyone needs to liquidate & anything US sucks

? thoughts?

heard that zimbabwe had massive wage inflation, which is clearly not happening in the US. so it wld not happen? someone must be modelling these eventualities? weimar republic similarities?

wonder what deadbroke is doing? buying or selling? or covering his shorts?

either way, & more importantly, gold price in $/£/€ et al will ramp....imo!

its a digression but still relevant to the gold price.