What’s reason behind gold’s poor performance?
Trade Forex Gold
(rbforextrader)
Member Since May 26, 2017
11 posts
Jun 01 2017 at 06:28
The reason gold hasn't broken the bear channel despite strong buying pressure is due to repeat and concerted high volume selling at the bear channel edge AND the US dollar holding value above the .786 monthly fib level due to support from The Fed. Should you sell gold? On what timeframe? Should you trade gold? Yes. It has high volumes of trade and price movement and trades a classic fib structure with definite channels.
The trend is your FRIEND
kieran
(snapdragon1970)
Member Since Sep 12, 2015
1944 posts
Jun 01 2017 at 09:33
Fib levels would be the last thing to look at to confirm bias,gold very much sentiment driven .
"They mistook leverage with genius".
Trade Forex Gold
(rbforextrader)
Member Since May 26, 2017
11 posts
Jun 01 2017 at 11:59
No. Not at all. Gold trades in trends and a lot of the trading is simply for profit not sentiment. It travels up and down using the monthly fib as structure. See for yourself on the monthly and weekly chart.
The trend is your FRIEND
Telltale20
Member Since Mar 28, 2017
12 posts
Jun 01 2017 at 14:52
I wouldn't say that Gold 'travels up and down using the monthly fib as structure' . Fib levels can sometimes work but using them alone is suicide. There are a lot things influencing the price of gold to say that price movement is determined by chart levels is misleading
Trade Forex Gold
(rbforextrader)
Member Since May 26, 2017
11 posts
Jun 02 2017 at 09:23
Wouldn't you. But I do. Read the post carefully before replying. The fib is used for structure. Very easy to see. No risk of suicide as you put it.
The trend is your FRIEND
kieran
(snapdragon1970)
Member Since Sep 12, 2015
1944 posts
Jun 02 2017 at 22:02
Another checklist of note:
Excess liquidly
Real interest rates
ETF flows
Futures positioning
Options positioning
Short interest
Seasonality
Excess liquidly
Real interest rates
ETF flows
Futures positioning
Options positioning
Short interest
Seasonality
"They mistook leverage with genius".
Trade Forex Gold
(rbforextrader)
Member Since May 26, 2017
11 posts
Jun 04 2017 at 07:00
Thanks for schooling me as a full time trader. Again read the message. The price uses the fib as structure. That shouldn't be hard to understand. At any point I'm replying to the poster not you so please don't comment in detail to carry on a debate. Respect the poster
The trend is your FRIEND
rob559
Member Since Feb 11, 2011
1916 posts
Jun 04 2017 at 07:12
might be the rise of bitcoin
kieran
(snapdragon1970)
Member Since Sep 12, 2015
1944 posts
Jun 04 2017 at 13:32
rbforextrader posted:
Thanks for schooling me as a full time trader. Again read the message. The price uses the fib as structure. That shouldn't be hard to understand. At any point I'm replying to the poster not you so please don't comment in detail to carry on a debate. Respect the poster
No one is schooling you, we could use your in depth knowledge of trading Gold.
"They mistook leverage with genius".