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SunTrader
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Everything posted by SunTrader
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Isn't it "wait till next year"? Or 2016 or ....
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Such a comedian. :haha: Yeah its still above the price it was FOUR YEARS AGO. But bullish while in a bear trend of lower lows and lower highs - no such thing. Keep hoping and wishing and holding your breath. Though I think might be better if you looked at a chart every once and awhile before posting any more bullish nonsense.
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Sometimes the obvious happens. Mostly not.
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I wouldn't call a $20 or even a $40 drop fierce. $50 or $100 is more like fierce price movement. And if then price gets down to previous double bottom at $1180 something very fierce might happen.
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.. seven see prices down ... Looks like they were the only ones with their thinking caps on.
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More buying was present at 1275 level on May 2nd than next swing low May 12th so it could weaken next time price hits it a 3rd time??? But support I see starts at 1285 (1284.55) and resistance at 1308 (1307.61) :
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Anything is possible but no I do not think the U.S. is in a bubble at the moment. Many American waist line are at bubble stage though.
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Broken clocks are also right twice a day. You got to understand that when something is so obvious it is obviously wrong. The stimulus hasn't created inflation. Here, in Europe, in Japan and everywhere else. And the world has gotten better and better at living with uncertainties. At some point, who really knows when, gold will have a bull market again. Until then I will continue to trade it, whichever direction it goes. In the meantime I have better uses for my money than buying it.
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And when it does flip I will be long but the great Gary whatshisname will still be wrong. BTW I admire your persistence in being continuously wrong as well. You must have a bottomless trading account balance.
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Will Gold Prices Double Five Years from Now ?
SunTrader replied to Larry1234's topic in Market News & Analysis
Well one year almost gone without a doubling. Ahhh make that without much movement up or down. -
China is no longer a bubble expanding. Only the clueless don't realize it's a bubble which has now burst.
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Almost a year later - no stock market crash AND no gold bull market. And I still think Gary who??????????
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You ask this but then say to someone else price is above a 89 sma on monthly chart so market is bullish. Why should that matter? If that isn't good enough move out to a quarterly, or a yearly or a decade and then you could always make the sma longer ... and longer again. :doh: BTW also why 89 anyway, on a monthly basis this equates to 7.42 years. 89 on a daily chart it at least equates to around 1/3 of a year. Nonetheless maybe the attached chart might make clear what the actual present, tradable trend is. Note I only use RSI indicator to help identify trend. In uptrend RSI should stay above 40, in downtrend RSI should stay below 60.
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I'm not Bullish. I'm not Bearish. I'm price-ish!
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Ok. 15 minute bar at noon was a pinbar too if that means anything. Opened and closed just below 3530
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If hinge at 30 is 3534 reversal high at 12 noon than it looks to me it reversed after making 50% retracement. Note on my chart I truncate levels if price trades in same area for consecutive bars like the top 4 bars from 8:10-8:30am, and also the bottom with the long wicks at 10:15-10:20am.
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Then later in the day proceeded to close basically unchanged for the week on one of the widest range days of the year. Timing is everything - and with the news most times it is not new news but old news.
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Went back randomly (clicked page 24 - 1st post on top) and found this from last August. "PS GOLD IS BULLISH AND THE ES IS THE MOST BEARISH IT HAS BEEN THIS YEAR" :doh:
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Weekly chart shows still got one more wave down to go:
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Opps !
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Agree if Gold reaches but in the meantime Thursday/Friday's double top 1324 is current resistance which I think will hold as daily ranges and volumes have been shrinking. Meantime Silver, which is a proxy for the health of the world economy has been stuck in a tight range for two weeks now, held down by BRN of $20 with only a couple of spikes above it, and looking ready to roll over.
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Neither. They are accurate, some of the time, when other factors are in sync. Such as time and cycles (both price and time) , OB or OS conditions, momentum and patterns.
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I very rarely trade NQ so this is all 20/20 hindsight but another explanation why price didn't go lower might become clear looking at this closing price 5min line chart:
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The bears did try to take price down. Operative words did try. If there were more of them or just more size behind those selling they would have succeeded. Since they didn't bulls took it as a sign of weakness or just plain bought more than the bears could sell into. Supply/demand 101. 10:15am did not take out previous swing low which was still 7 points higher than the previous close.
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It's fantastic if you are a permabull or fond of wearing tinfoil hats maybe. For instance: "Almost every week it is possible to illustrate the appearance of a large number of contracts shorting gold at times of day when trading is thin." Ok well then illustrate it. Showing charts and price movement around fed announcements times shows .....price movement around fed announcement times. All markets move then, so? Price isn't going the way they think it should. It never does. It goes the way supply and demand says it should. And right now there isn't the demand to make it go higher. Plain and simple. But they would rather have someone to blame for their incorrect analysis. Brilliant!