Gold Bullish or Bearish

[Obsidian 10]

it seems going long is safer at this point as 1660 is possible. I wouldn't short till I see a strong bearish candle.

 

now we are above 1660, 1682 is the next target...a weekly close above 1682 means weekly charts will turn bullish as well

[ForexTraderX 10]

At this rate, I see 1700 by mid next week, and though we may pull back from there (or IMO, more likely stall out for a bit and consolidate before moving on)... I see 1720-1727 being hit before we see 1610 again.

 

I'm bullish over all until we see 1725-1730... OR until we see a significant bearish reversal candle on the daily chart... and even then without a real trendline break which likely won't occur until price closes under 1600-1620 at least.... i'd treat any drop in price with skepticism, until we hit 1725-1730.

 

There, I would turn to a neutral bias, and just wait and see what comes next.

[Obsidian 10]

still no signs of bears around...though 15m and 30m charts show little exhaustion...

[Obsidian 10]

I guess this Friday, it will either skyrocket or back to 1628...

[Obsidian 10]

now we are around critical support..drop below 1650 means it is likely that we are going to head towards 1640/1638 zone...imvho.

[Obsidian 10]

I guess this Friday, it will either skyrocket or back to 1628...

 

close above 1680 would be awesome...full moon is doing its trick again :rofl:

buying on dips will be the smartest play i guess.

[Obsidian 10]

till gold drops below 1650, buy on dips should work better...close above 1700 means we may see 1775 this month...imvho

 

there are too many stuff to watch as this is the first week of the month...ecb meeting (sept 6) and german court ruling on the ESM (sept 12) look like the main events regarding eur

[bobcollett 10]

close above 1680 would be awesome...full moon is doing its trick again :rofl:

buying on dips will be the smartest play i guess.

 

Markets strengthen after full moon. BUY.

bobc

[Obsidian 10]

Markets strengthen after full moon. BUY.

bobc

 

waiting for American werewolves to get back to their screen to break 1698.50

[jimbo320 10]

Poss break of the bull flag.

Hold on tight to your gold...

[Obsidian 10]

still holding with same tp and sl..ZzZzZzZz...

[Obsidian 10]

closed 2/3 and raised sl...today the market is toooo slow..ZzZzZzZz...

[bobcollett 10]

closed 2/3 and raised sl...today the market is toooo slow..ZzZzZzZz...

 

Hi Obsidian

I guess the market was so slow you fell asleep posting your chart.

Is this GOLD?

regards

bobc

[Obsidian 10]

Hi Obsidian

I guess the market was so slow you fell asleep posting your chart.

Is this GOLD?

regards

bobc

 

Hi Bobc,

I am still in sleeping mode...ZzZzZz..till fomc announcement probably:cool:

here is the weekly chart..chinese buyers should be happy and relaxed...

[Obsidian 10]

guess i have to thank Fed for accelerating gold's climb...target reached, position closed..now going back to sleep again

[jimbo320 10]

It's all gold. The only way is up. Next stop 2100.

[SunTrader 10]

guess i have to thank Fed for accelerating gold's climb...target reached, position closed..now going back to sleep again

Noticed where you previously said close 2/3 raise sl but nothing prior about when and at what price you actually entered long? :hmmmm:

[Obsidian 10]

Hi SunTrader,

you can check post #134 to see when I opened that position. my entry level was 1694.60. Lately, I have been trying to post a screenshot right after I open a position if I am not too busy

[SunTrader 10]

Hi SunTrader,

you can check post #134 to see when I opened that position. my entry level was 1694.60. Lately, I have been trying to post a screenshot right after I open a position if I am not too busy

Ok, I see now. Not familiar with that charting program. MT4 perhaps?

 

I've always just used TradeStation.

[Obsidian 10]

Ok, I see now. Not familiar with that charting program. MT4 perhaps?

 

I've always just used TradeStation.

 

yes right that is MT4

[jimbo320 10]

200$ now. The target is 2000 then 2100.

[Obsidian 10]

will be watching 1748 and 1790...no trades until we close below or above these levels

[Obsidian 10]

xau/usd is consolidating between 1755-1779...and pretty boring to watch :crap:

[jimbo320 10]

Cup and handle forming on a big bull flag perhaps.

Plenty of time, if you aren't already in.

But it might just go straight up. Only time will tell.

[Obsidian 10]

all time frames turned bullish..so the odds favor a break to to the upside...but if it can't move above 1780 by tomorrow, i guess it will back to 1753.