Gold Charting and Gold TA Chat

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good long pos ATM IMHO... caveat... disclosure... waiver etc etc

*** EDIT*** lol jinxed it
 
Ctrl-P gets back in a the Dixie strengthens??? Go figure... closing in on 81 lets hope it goes H&S like Maund prediceted
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Gold has broken resistance @1730 and more importantly has not crashed yet
TraderDan said:
Gold continues to stage an impressive recovery off of the spike low which looks more and more like it was a bear trap.
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http://traderdannorcini.blogspot.com.au/2012/11/gold-chart-and-comments_8.html
Ron Paul retires from congress which puts percived SHTF as uberbullish which is good for gold

RE: Ron Paul here is a quote that sums up the situation perfect aswell as predicts the ending

ItIsWritten said:
And Jehoshaphat said unto the king of Israel, Inquire, I pray thee, at the word of the LORD to day. Therefore the king of Israel gathered together of prophets four hundred men, and said unto them, Shall we go to Ramothgilead to battle, or shall I forbear? And they said, Go up; for God will deliver it into the king's hand. But Jehoshaphat said, Is there not here a prophet of the LORD besides, that we might inquire of him? And the king of Israel said unto Jehoshaphat, There is yet one man, by whom we may inquire of the LORD: but I hate him; for he never prophesied good unto me, but always evil: the same is Micaiah the son of Imla. And Jehoshaphat said, Let not the king say so.
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Reading the Fourth turning ATM interesting stuff
 
Currently just above the neckline from the recent H&S, It does look (tentatively) good

My longs from 1680 are looking good right now, very hard not to grab the profit and run, however I think this still has some legs - we'll soon see I guess :)
 
1730 res and now support seems important... not quite battle at Kruger, but there is a skirmish going on there
 
I've gone and updated the Big Long-term Graphs again (From the OP), Hopefully these are helpful for others as well as myself.

The gold one looks like its starting to get back into the upward trend,
Will be interesting to see what happens at the 1800 and 1900 levels!

Check out the link on page 1 or click here to go to the chart directly. (163kb)
( You will need to zoom in after it loads. big_smile)

Thanks,
Azure.
 
December 12 FOMC Meeting
Two-day meeting, December 11-12

December 12 FOMC Press Conference
2:15 p.m. ET
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That time again ppls. QE4ish expected so I would say TPTB will want a take down between now and the press conference to make sure any upside momentum does not breach 1750 res. Good time to buy if so. I expect the first move RE: FOMC to be down to take out as many stops as poss ~2pmET and then sharp rise! Aftermath may be a case of buy the rumor sell the fact as EVERYONE expects doveishness so a lot is probably priced into the market so take some profit immediately

GLTA
 
LovingtheSilver said:
Doesnt the market move after the statement, not the conference?
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"They" know what the outcome is so the action the night before is what I am watching

thatguy said:
That time again ppls. QE4ish expected so I would say TPTB will want a take down between now and the press conference to make sure any upside momentum does not breach 1750 res. Good time to buy if so. I expect the first move RE: FOMC to be down to take out as many stops as poss ~2pmET and then sharp rise! Aftermath may be a case of buy the rumor sell the fact as EVERYONE expects doveishness so a lot is probably priced into the market so take some profit immediately
GLTA
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On Q? will wait and see if this has any legs... got past 32.95. I don't like the way gold is holding up better then silver... mmm
 
Gotcha... I remember QE3, smackdown around 12 hours before statement then another very quick one (lasted about 2secs) that made silver drop 1% straight after statement (i assume to take out longs) then off to the moon over the following few hours. I can't wait :)
 
LovingtheSilver said:
Gotcha... I remember QE3, smackdown around 12 hours before statement then another very quick one (lasted about 2secs) that made silver drop 1% straight after statement (i assume to take out longs) then off to the moon over the following few hours. I can't wait :)
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Yup this is the shit i'm talking about... a nice plunge to flush the stops... they know it's going higher :D
 
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