Tomorrows Gold Price ???

[Atilla]

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'.

Hi rsh,

Three determining factors play a part for me. And I have seem to have moved through each in turn.

1. FA
2. News
3. TA

To further complicate trading decision, depending on market and time and numerous other factors they; all three can have different weighting. Speaking generally, in the long term the fundamentals are always key but in the short term prices can fluctuate wildly. With time and experience however, I have moved towards a TA bias. FA and the news are always ingredients but TA says it very well in various time frames.


Coming back to the FA/news - article in BBG seems to have interpreted the FOMC blurb in a different light...

Asian stocks fell, trimming the strongest two-month rally since the start of 2012, and gold declined as the Federal Reserve fueled speculation it will begin tapering stimulus in coming months. U.S. and European equity-index futures dropped while the yen strengthened.

fwiw I still have a short bias on gold and I am expecting further falls.

 

[Rockfeller]

Since gold did not manage to break above fib zone. My bias turned bearish.

 

[Rockfeller]

Gold testing my Support zone. Might take a long position if candles show reversal signals. Longer term bias is bearish.

 

[pro_fx]

Gold has become more volatile and sometimes overvalued. This will not fetch profitable trades, keep resistance at 15% value and then study the historical trends and patterns.

 

[Rockfeller]

Got a nice profit yesterday. Currently I have neutral bias.

 

[Rockfeller]

Gold is in consolidation mode.I don`t have any position right now. I think today and tomorrow we will get some movement.

 

[Atilla]

Gold is in consolidation mode.I don`t have any position right now. I think today and tomorrow we will get some movement.

Makes you wonder what gold is waiting for after a day like this?

I have a sneaky suspicion money on the sidelines waiting for 1200-1150 to be tested...

 

[Rockfeller]

Playing the range. Not expecting big movements

 

[Rockfeller]

Makes you wonder what gold is waiting for after a day like this?

I have a sneaky suspicion money on the sidelines waiting for 1200-1150 to be tested...

I also have a feeling that trend is lower.

 

[Rockfeller]

Trend is lower. Looking to go short.

 

[Rockfeller]

I still have a negative bias.Most important event for gold this week is FOMC Oct 29-30 meeting minutes report. Also several Fed members scheduled to speak

 

[Rockfeller]

I have a neutral bias on gold.

 

[Rockfeller]

Not much has changed. Gold is waiting for Bernanke.

 

[mergo]

I'am long on gold at 1293 and over leveraged if gold hits 1252 I'm gone. I know it is a mistake and all but can i have your advice >

 

[mergo]

So your expecting to go down that much >?? ( new to trading )

 

[mergo]

high leverage is bad, it is actually my first high leverage trade I used to trade with a maximum 5% of my acct equity. One mistake and now my money is almost gone

 

[mergo]

currently I ordered " The intelligent Investor", but I'm thinking If i should take Anton Kreil's course. Any propositions ??
thanks mate

 

[Atilla]

I'am long on gold at 1293 and over leveraged if gold hits 1252 I'm gone. I know it is a mistake and all but can i have your advice >

Life is a beach and then one drowns...

Enjoy all that you do...

 

[new_trader]

Keep tight stops

I'am long on gold at 1293 and over leveraged if gold hits 1252 I'm gone. I know it is a mistake and all but can i have your advice >

I'm sure most of the people (dunces) in this forum will tell you your stop wasn't wide enough

KEEP YOUR STOPS TIGHT, that way you will last in the game long enough to become proficient.

 

[Atilla]

What ever happened to those lil gold sovereigns you purchased at $1600+ or somefink few moons ago me amigo???

How about you posting another image of those gems for us to marvel at eh?


Yeah I know - in the long run we are all dead...