Gold Charting and Gold TA Chat

Discussion in 'Gold' started by Azure, Jul 26, 2012.

  1. Altima

    Altima Well-Known Member Silver Stacker

    Joined:
    Feb 7, 2013
    Messages:
    4,178
    Likes Received:
    58
    Trophy Points:
    48
    Location:
    Canada/Singapore
    Funky as in the prices are gonna boogie down or is it gonna dance up a storm?
     
  2. thatguy

    thatguy Active Member

    Joined:
    Jan 18, 2011
    Messages:
    5,805
    Likes Received:
    2
    Trophy Points:
    38
    Location:
    Brisbane
    Never know... I'm on the up train, whatever is gonna happen things are going to be different by the 7th :D
     
  3. Kam

    Kam Active Member Silver Stacker

    Joined:
    Dec 30, 2012
    Messages:
    1,942
    Likes Received:
    1
    Trophy Points:
    38
    Location:
    Canada
    Whats gonna happen on the 7th, did I miss something ?
     
  4. thatguy

    thatguy Active Member

    Joined:
    Jan 18, 2011
    Messages:
    5,805
    Likes Received:
    2
    Trophy Points:
    38
    Location:
    Brisbane
    Well IMHO we are not going to be in this annoying sideways crap anymore... whether that mean up or down I know not, but not sideways :D

    Caveat = I am leprechaun with no financial knowledge and a lot of Guinness

    http://www.zerohedge.com/news/2013-...nd-worst-print-last-8-months-sequester-blamed
    Bad news is good news is bad news? Huh?!
     
  5. theiain1

    theiain1 Member

    Joined:
    Oct 11, 2010
    Messages:
    227
    Likes Received:
    0
    Trophy Points:
    16
    Location:
    Australia
    [​IMG]

    Lower inner channel line on the weekly log chart in play (1375 this week)

    Long wicks hint at lack of bullish conviction / strength of selling
     
  6. wrcmad

    wrcmad Well-Known Member Silver Stacker

    Joined:
    Jan 2, 2012
    Messages:
    6,644
    Likes Received:
    1,502
    Trophy Points:
    113
    Location:
    Northern NSW
    As much as gold looks to be going lower, I cannot see a decent trade setup or reference point to trade from.
    Very choppy price action ATM, so better for me to sit and wait.
    Next short for me will be below 1320.
     
  7. theiain1

    theiain1 Member

    Joined:
    Oct 11, 2010
    Messages:
    227
    Likes Received:
    0
    Trophy Points:
    16
    Location:
    Australia
    [​IMG]

    apex - Thurs (20th) [FOMC]
     
  8. thatguy

    thatguy Active Member

    Joined:
    Jan 18, 2011
    Messages:
    5,805
    Likes Received:
    2
    Trophy Points:
    38
    Location:
    Brisbane
  9. hawkeye

    hawkeye New Member Silver Stacker

    Joined:
    Nov 10, 2010
    Messages:
    2,929
    Likes Received:
    4
    Trophy Points:
    0
    Location:
    Perth, Australia
    So it's like traders are just kind of in a holding pattern waiting to see what the FOMC meeting brings?

    If the market goes up too much sellers bring it back down, if it goes down too much buyers bring it back up. The market becomes more and more nervous as the meeting approaches and as such less and less risks are taken resulting in a smaller and smaller range. Sound right?
     
  10. J-Money

    J-Money New Member

    Joined:
    Sep 22, 2012
    Messages:
    54
    Likes Received:
    0
    Trophy Points:
    0
    On the off-chance Bernanke indicates a winding back of QE3, seems to me we can expect further capitulation of the price of gold, at least in the short term..is that a fair assumption to make?
     
  11. thatguy

    thatguy Active Member

    Joined:
    Jan 18, 2011
    Messages:
    5,805
    Likes Received:
    2
    Trophy Points:
    38
    Location:
    Brisbane
    We'll see both... he'll indicate tapering, then hint at moar printing... or will it be the other way round.

    One would suspect that they'll want PMs in the lower section of the pennant to make sure that a break out is unlikely
     
  12. grinners

    grinners Active Member Silver Stacker

    Joined:
    Mar 19, 2011
    Messages:
    1,183
    Likes Received:
    3
    Trophy Points:
    38
    Location:
    Australia
    I believe that we will eventually see reduced MBS and increased Treasury purchases.
     
  13. thatguy

    thatguy Active Member

    Joined:
    Jan 18, 2011
    Messages:
    5,805
    Likes Received:
    2
    Trophy Points:
    38
    Location:
    Brisbane
    $1350 and $21.30 need to hold here... I rather like the possibility of a bottom being in between now and 1st of july... So I will allocate some resources that way soonish
     
  14. Phiber

    Phiber Well-Known Member Silver Stacker

    Joined:
    Nov 21, 2012
    Messages:
    1,588
    Likes Received:
    28
    Trophy Points:
    48
    Location:
    Australia
    Looks like $1350 has been broken already ...
     
  15. thatguy

    thatguy Active Member

    Joined:
    Jan 18, 2011
    Messages:
    5,805
    Likes Received:
    2
    Trophy Points:
    38
    Location:
    Brisbane
    [​IMG]
    [​IMG]
    Suspect a restest of 1275 to confirm "a bottom"... unsure if it is "the bottom"
     
  16. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

    Joined:
    Oct 31, 2011
    Messages:
    7,079
    Likes Received:
    892
    Trophy Points:
    113
    Location:
    bosis
    Ive been through all these emotions......this morning. :( :) :D :mad: :rolleyes: :cool: :| :p


    [​IMG]
    Source: Wherever thatguy got it from.
     
  17. thatguy

    thatguy Active Member

    Joined:
    Jan 18, 2011
    Messages:
    5,805
    Likes Received:
    2
    Trophy Points:
    38
    Location:
    Brisbane
  18. thatguy

    thatguy Active Member

    Joined:
    Jan 18, 2011
    Messages:
    5,805
    Likes Received:
    2
    Trophy Points:
    38
    Location:
    Brisbane
  19. theiain1

    theiain1 Member

    Joined:
    Oct 11, 2010
    Messages:
    227
    Likes Received:
    0
    Trophy Points:
    16
    Location:
    Australia
    [​IMG]

    Testing the lower channel line on the weekly log chart
     
  20. Ronnie 666

    Ronnie 666 Well-Known Member Silver Stacker

    Joined:
    Mar 16, 2011
    Messages:
    2,430
    Likes Received:
    126
    Trophy Points:
    63
    Location:
    Australia
    Hey Guys I found this great tool for predicting gold and silver prices. And does it work - look it is off the charts right now.
    Fundamentals always wins

    [​IMG]
     

Share This Page