Gold Bullish or Bearish

[Obsidian 10]

key resistance are at 1762 and 1774 (blue lines). at this point it is better to just sit and watch. daily chart is showing signs of exhaustion and prices move in the cloud on 4h chart

[Obsidian 10]

there is nothing much to say while waiting for NFP except....break it or reverse

[Obsidian 10]

seems like gold is going back to 1755 first...

[Obsidian 10]

seems like gold is going back to 1755 first...

 

hit 1755..now where? 1743 or 1730...till close above 1780 the bears will keep attacking

[bobcollett 10]

Sold.

Will review after 29th Oct.......Full moon

bobc

[Obsidian 10]

Sold.

Will review after 29th Oct.......Full moon

bobc

 

lets see how full moon will affect prices again

I set s/l to 1734 and t/p to 1704 anyway

[bobcollett 10]

Hi Obsidian

You also want to sell Silver SHORT.......NOW.

Kinds regards

bobc

[Obsidian 10]

Hi Bobc,

thought about that yesterday but I was at my limit so no more positions for now

 

meanwhile, lowered stop to 1719, tp is still the same

[bobcollett 10]

Hi Bobc,

thought about that yesterday but I was at my limit so no more positions for now

 

meanwhile, lowered stop to 1719, tp is still the same

 

Hi Obsidian

"At my limit"

Yip. I know the feeling

regards

bobc

[Obsidian 10]

Hi Obsidian

"At my limit"

Yip. I know the feeling

regards

bobc

 

well we dont have "deep pockets"

 

meanwhile my target was missed with a few pips...shame on that...but anyway cant complain...closing this position now as I see buyers are piling up around my original target...

[Obsidian 10]

looks like trading range will be rather tight till next week...

price is moving in the cloud on the daily, 4H is bearish and weekly is bullish

[SunTrader 10]

Nasty drop .

[Obsidian 10]

the daily shows the pair is near support so will be watching the 1670 closely.

[Obsidian 10]

the daily shows the pair is near support so will be watching the 1670 closely.

 

we may see gold testing 1699 this week...

[Obsidian 10]

close above 1727 will send gold higher...reversal on weekly as well

 

go Obama go..I mean gold

[Obsidian 10]

weekly candle looks strong but daily is still inside the cloud. it is possible to see a pull back 1725/20 zone before testing 1750

[Obsidian 10]

weekly candle looks strong but daily is still inside the cloud. it is possible to see a pull back 1725/20 zone before testing 1750

 

looks like support at 1721 will hold...buy on dips still seems a better idea until it is broken...if we keep trading above 1726 today, we can see 1737 tomorrow...imvho of course

[SunTrader 10]

Doji spinning top dailies on decreasing volume and narrowing Bollinger Bands means a move, (which way?) possibly big, is approaching.

[SunTrader 10]

Also top of the cloud and Boll Bands so down might be the direction. But I'll wait and see which way it breaks before joining in.

 

Silver the same.

[bobcollett 10]

Also top of the cloud and Boll Bands so down might be the direction. But I'll wait and see which way it breaks before joining in.

 

Silver the same.

 

NEW MOON

Markets will weaken after the weekend.

My fundamentals show a slowing India , Russia and Brazil.

And China is going sideways

Theres no money to buy Gold

I hold two long contacts which I will sell by Friday close.

regards

bobc

[Obsidian 10]

Doji spinning top dailies on decreasing volume and narrowing Bollinger Bands means a move, (which way?) possibly big, is approaching.

 

it does not look bullish, so maybe 1715 will be seen soon enough

[SunTrader 10]

NEW MOON .......

 

bobc

Also at perigee and a Solar Eclipse the other day altogether should make for fireworks in the markets.

[jimbo320 10]

Interesting times on the mining shares and the metal..

[Obsidian 10]

yesterday's drop was due to Gold Demand Trends report released by the World Gold Council..report was saying that q3 gold demand fell 11%...

[bobcollett 10]

Is there any member who trades with cycles.?

Its a bit mumbo jumbo, I know, but its an edge.

Gold has a cycle of 21 months and it has worked for 13 years.

If you can handle the coming pullback and the drawdown , then you will be smiling in July 2013

regards

bobc