Is This Good Time for Buy Gold Again???

[bobcollett 10]

I don't plan to spec buy any gold until silver is under $24

 

( :haha: and I never have to change any plans )

 

Hi mohsi...

Full moon is gone . Markets will now drift down to New Moon on the 21st April.

My wedding anniversary.

My fundamentals for Gold remain intact.Its a buy Long Term. Obsidians technicals are valid.Its a sell Short Term.

One anomaly.Silver tends to move with Gold.

Last week Silver took a big gap DOWN.

Either Goldman Sachs is manipulating the market or China is a seller.

Be very careful.

I think Silver will recover tomorrow. If it falls some more, then zdo better get ready!!!!

Kind regards

bobc

 

PS. I have bought more gold shares in 40 years of investing than most traders have had breakfast. We have a saying in SA. "Gold is for c...s and kings, and you dont look like a king"

[Obsidian 10]

...or China is a seller....

I am thinking this might be the case

[mohsinqureshii 10]

Thanks Guys For your profitable advises. i Bought it @1620 and now i am going to hold it about 1800....;-)No Time limit and my Stop Loss is about @1540..

[Obsidian 10]

short term charts are bearish again, if 1626 does not hold, maybe 1620 next...

[Obsidian 10]

a daily close above 1652 may be enough to hit 1670 imvho

[zdo 20]

 

Obsidian, an offtopic request re

“…bearish again, if 1626 does not hold, maybe 1620 next...”

“…a daily close above 1652 may be enough to hit 1670 …”

 

If you have time, could you please open a thread and explain this type of “if price goes to (or through) _____ levels, then it could possibly go (on) to ______ levels” thinking. I have been trading a long time and still have never seen even an ‘ok that makes sense’ explanation of this thinking.

 

…and btw, one of the answers that don’t quite ‘make sense’ to me is – if that ‘support’ doesn’t hold then it will go test the next ‘support’, etc. These S/R based projections have never held up to a significant level in real life for me - so I’m asking about the ‘foundational’ construct behind this mode of looking at a market.

 

This mode is everywhere you look. Examples from elsewhere...

“A decisive close below 1.3000 is required to unlock the important multi-month reversal pattern into 1.2625… ”

“Only a decisive confirmation above 83.40 and 84.18 will extend the… ”

“...would need to see settlement back over 0.9222/0.9252 …would revive the recovery from 0.9002 exposing 0.9252 then the 0.9335... ”

 

So, not calling you out at all on this individually … just asking if you can help by adequately explaining it. Thanks.

 

zdo

[Obsidian 10]

sorry for the confusion zdo maybe showing on charts would be better...

 

"short term charts are bearish again, if 1626 does not hold, maybe 1620 next... " was supposed to mean:

"gold will keep falling until 1626 or 1620"

[Obsidian 10]

and it fell until 1623.13.....

[zdo 20]

sorry for the confusion zdo maybe showing on charts would be better...

 

"short term charts are bearish again, if 1626 does not hold, maybe 1620 next... " was supposed to mean:

"gold will keep falling until 1626 or 1620"

 

so you don't think like that... you just talk like that ? :razz:

“…a daily close above 1652 may be enough to hit 1670 …”

ie is it just a genre of cya industry speak?

 

I would appreciate an explanation from anyone who understands the merits of this 'mode'... it just seemed that you were in touch with it Obsidian... thx

[Obsidian 10]

so you don't think like that... you just talk like that ? :razz:

“…a daily close above 1652 may be enough to hit 1670 …”

ie is it just a genre of cya industry speak?

 

I would appreciate an explanation from anyone who understands the merits of this 'mode'... it just seemed that you were in touch with it Obsidian... thx

 

haha well we are all part of that industry

everybody has different ways to find-follow the trend..for me it is price movements and is simple as “…a daily close above 1652 may be enough to hit 1670 …”

of course these numbers-ifs are not random...those are the levels which make me believe that # of buyers># of seller (or vice versa) enough to reach the next s/r level(s)...

 

now lets look at today's chart: yesterday closed above 1652 and today we got a bullish candle, today's high is 1667.40

[bobcollett 10]

Hi moshi

Still holding those gold bars to 1850.?

Gold futures closed down 0.5% today. Negative , but nothing but to worry about..

I think the correction is over. Keep holding.Famous last words!!

regards

bobc

[Obsidian 10]

finally hit 1670. don't know what will happen next. at this point have to wait and see...

 

is full moon near?

[Obsidian 10]

daily chart says gold is heading to 1566 but of course day is not over yet...a weekly close below 1597 means free fall until 1464-1430..imvho...

[Obsidian 10]

daily chart says gold is heading to 1566 but of course day is not over yet...a weekly close below 1597 means free fall until 1464-1430..imvho...

 

time for a break? seems like gold is going to touch 1564-1577 before it turns south

[Obsidian 10]

time for a break? seems like gold is going to touch 1564-1577 before it turns south

 

didn't imagine it would be this fast...that means this move may extend to 1595..hmmm

[Obsidian 10]

not surprisingly touched 1595 as well, weekly is a nice hammer.

1613 and 1640 will be important levels to watch..

[Obsidian 10]

weekly is bearish...4h chart is flat...

[SunTrader 10]

didn't imagine it would be this fast...that means this move may extend to 1595..hmmm

 

Short cover rallies are vicious - especially in Gold. More, more, more downside to come IMO.

 

After correction up to 1610-1620 area.

[Obsidian 10]

somebody defending 1.530 level?

[SIUYA 11]

Real test from a fundamental point of view may be if the QE spectre raises its head again with Greece, and Spain recent downgrades, more money printing, and the specter of inflation again (even though Gold has been a horrible measure for this) ..... if there is not a lot of rallying from that - heading south.

Otherwise all bets off.

[MadMarketScientist 11]

I think its a good time to start buying a tranche or two. I can't see how a big bailout can be avoided in Europe ... if not Greece then one of the other PIIGS. And eventually the US itself!

 

MMS

[bobcollett 10]

I think its a good time to start buying a tranche or two. I can't see how a big bailout can be avoided in Europe ... if not Greece then one of the other PIIGS. And eventually the US itself!

 

MMS

 

Hi MMS

Not this week.Fundamentally.......

There is an inverse corrolation between the gold price and the dollar.

While the dollar is strong and is getting stonger , gold will stagnate.

And a bailout in the euro will send more money chasing the $.

When the $ starts going down, thens the time to buy gold.

Investors are always looking for safe havens. Even at 0% interest.

kind regards

bobc

[gtpark 10]

somebody defending 1.530 level?

 

Asian Central Banks on reported bids at 1525/30 still.

[Obsidian 10]

1574-81 area is tough nut to crack..I was expecting a jump towards 1597 before it turns south but things change ...unless it is back above 1600, still thinking about a nice correction to 1460-1430

[bobcollett 10]

1574-81 area is tough nut to crack..I was expecting a jump towards 1597 before it turns south but things change ...unless it is back above 1600, still thinking about a nice correction to 1460-1430

 

Dear Obsidian

I am confused .

What are you predicting?

Is price going to break resistance - 1580?

And then go to 1600?

And then fall?

Or is it going to correct?

Soon ?

regards

bobc