Gold Bullish or Bearish

[jimbo320 10]

Interesting bob. The pullback in 2008 was 8 months, we are currently at 7 off the current high...

[Obsidian 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

 

very interesting in deed...every extra info helps

[bobcollett 10]

Interesting bob. The pullback in 2008 was 8 months, we are currently at 7 off the current high...

 

Hi jimbo

I have saved the article but I cant post it as an attachment. (BBC) The file is rhyme.html

I will try and find the website and post it.

Regards

bobc

[bobcollett 10]

I hope this works

 

Silver Bear Cafe

regards

bobc

[Obsidian 10]

dont have a sell signal so far..30m, 1h, 4h time frames are still bullish...

[jimbo320 10]

I hope this works

 

Silver Bear Cafe

regards

bobc

 

Link worked fine.

Now 2700 in July 2013, would work. Be interesting to see how it pans out.

Until then buy dips.

[Obsidian 10]

range is so tight today...

meantime, something to read:

Soros and Paulson are back to gold rush — RT

[SunTrader 10]

Reflection of the CME being closed, yet so many tout how more important London is to gold trading.

[Obsidian 10]

we had a key reversal 2 weeks ago and chikou span climbed above the cloud...when I check the weekly chart, it looks like a continuation pattern to me...but 1750 is still a hurdle in the near term

[bobcollett 10]

Has everybody stopped trading Gold?

We have New Moon on the 13th. Markets strengthen up to three days after this .

So the present correction is worth 2 long contracts for some lunch money.

regards

bobc.

[bobcollett 10]

And heres some more lunch money.

The Mayan calender prediction of the end of the world on the 21st Dec is worth 1 long Gold contract.Buy round about the 18th.You will have to close the deal at 12noon on the 21st.because of Christmas.

regards

bobc

 

PS Stock up on matches

[SunTrader 10]

Moom will also be at perigee midnight Dec 12th so if gold continues higher till then might be a point to go short.

 

That is if today's current weakness changes.

[ntrader 10]

I am still bullish on gold and I believe every pullback is a buying opportunity. Today’s drop below $1670, due to profit taking and Chinese inflation data, gives me a buy signal, I am adding gold to my portfolio below $1680 with a target price of $1726. The major safe haven asset for investors is still gold.

[SunTrader 10]

I am still bullish on gold and I believe every pullback is a buying opportunity. Today’s drop below $1670, due to profit taking and Chinese inflation data, gives me a buy signal, I am adding gold to my portfolio below $1680 with a target price of $1726. The major safe haven asset for investors is still gold.

Profit taking? It has been in a downtrend since October 4th. Who's profit. Short sellers.

 

Ya know tech stock buyers bought every pullback till the Y2K bubble burst.

 

But you say buy with a target higher by $46 but yet call it a safe haven asset. If so why sell? why not hold. Maybe because markets go up, markets go down. Safe haven or not.

Markets also don't do what most expect.

[DbPhoenix 42]

Profit taking? It has been in a downtrend since October 4th. Who's profit. Short sellers.

 

Ya know tech stock buyers bought every pullback till the Y2K bubble burst.

 

But you say buy with a target higher by $46 but yet call it a safe haven asset. If so why sell? why not hold. Maybe because markets go up, markets go down. Safe haven or not.

Markets also don't do what most expect.

 

Actually it's a "downtrend" only within the context of the trading range it's been in for over a year. Which is why holding is not necessarily appropriate. Instead, trade the range.

 

See this post.

[ntrader 10]

Profit taking from yesterday's gains ($1678) after the ECB decision

You are right about the safe haven but I am trader and not a long term investor, so $40 is a good return for me, and as you you said markets don’t do what most expect so I prefer to lock in my gains.

[ntrader 10]

Profit taking? It has been in a downtrend since October 4th. Who's profit. Short sellers.

 

Ya know tech stock buyers bought every pullback till the Y2K bubble burst.

 

But you say buy with a target higher by $46 but yet call it a safe haven asset. If so why sell? why not hold. Maybe because markets go up, markets go down. Safe haven or not.

Markets also don't do what most expect.

 

Profit taking from yesterday's gains ($1678) after the ECB decision

You are right about the safe haven but I am trader and not a long term investor, so $40 is a good return for me, and as you you said markets don’t do what most expect so I prefer to lock in my gains

[SunTrader 10]

Actually it's a "downtrend" only within the context of the trading range it's been in for over a year.......

 

Well if you go back far enough some could say, if they so choose to split hairs, that Gold is still in an uptrend.

 

Although I don't ignore for obvious reasons past history I view recent days/weeks far more important.

[DbPhoenix 42]

Well if you go back far enough some could say, if they so choose to split hairs, that Gold is still in an uptrend.

 

Although I don't ignore for obvious reasons past history I view recent days/weeks far more important.

 

It was until a year ago. Now it's in a trading range. Recent weeks are important if one went short in October, or, at the latest, November. At this point, price could just as easily rally as continue the decline to the bottom of the range.

[SunTrader 10]

...... At this point, price could just as easily rally as continue the decline to the bottom of the range.

 

Yes it could, or just continue the downtrend - as I see it.

 

A trading market is a market of opinions. And we all have 'em.

[kuokam 10]

Maybe the decline is over. We are at previous weekly lows. Shall be clearer by next week.

[bobcollett 10]

OK

Here goes

I have a buy day tomorrow using TTT .... Taylors trading.

I have a falling US market.

I have oversold Gold index

I have big fall today in gold shares

And MOST IMPORTANT, I have Neptune and Earth in opposition for a few days.

I will buy 5 Gold contracts for a 30 point bounce , but out by Tuesday.

Stop 10 points.

regards

bobc

[SunTrader 10]

OK

Here goes

I have a buy day tomorrow using TTT .... Taylors trading.

.....

A man with a plan.

 

Why, how much, target and when to bail.

 

Looking good right now.

 

Though I tend to stay away from counter-trend trades myself.

 

:thumbs up:

[ntrader 10]

Still it is not easy to make an investment decision on gold, i will wait to see the price behavior this week and then open a position..

[SunTrader 10]

I suppose a bounce continuing is in the cards for the next day or two or longer but I'm waiting for the downtrend to resume before entering again.