GOLD staring a down trend

A good day to stay out of the market!

ProTradersGroup posted:

 It's going down from here (1360).


https://www.myfxbook.com/forex-charts/XAUUSD,D1/22098

Very Good analysis.

GOLD is looking good for upside move.

The volatility is drying up on gold and the range of movement is getting tighter and tighter. The 1300 level has proven to be a zone of indecision and we should not risk and entry until we see a clear direction on the precious metal.

bewayopa posted:
Ukraine crisis is causing economic impact global markets and could boost demand for U.S. government bonds, and commodities like gold.

As for the precious metal continues all the same, nothing has changed.

The next trending may be $63 move.
Gold continues to trade sideways inside a symmetrical triangle that can break to the upside or downside.
The next trending move may be decided by an important economic report. FED’s Janet Yellen is scheduled to speak today, and the FOMC minutes will be released a few hours later.

Gold is alive and kicking. I'am short @ $1,284.30 (No loss position) and scaled in @ $1,264.50. Target 1 @ $1,221.22; Target 2 @ $1,204.70.

Very Good analysis.
I completely agree with you!

It's still going down?

honeill posted:
Gold is alive and kicking. I'am short @ $1,284.30 (No loss position) and scaled in @ $1,264.50. Target 1 @ $1,221.22; Target 2 @ $1,204.70.

Looking good!

Good news today from the US, Gross Domestic Product and Jobless Claims, definitely would push GOLD further down. 😀

The gold can be down to 1242 (May be around 1242- 1255 ) than will back up to 1300 before the other big down trend .
For Long you can average down to 1242 .
For short you better take profit and wait for an other short at 1300 if you dont have stomach .
Good luck .

honeill posted:
Good news today from the US, Gross Domestic Product and Jobless Claims, definitely would push GOLD further down. 😀

I completely agree with you!

vinabao posted:
The gold can be down to 1242 (May be around 1242- 1255 ) than will back up to 1300 before the other big down trend .
For Long you can average down to 1242 .
For short you better take profit and wait for an other short at 1300 if you dont have stomach .
Good luck .

Good point. I still have my short open, I will probably take profit.

Ok .
Now It hit 1242 as project .
All short MUST take profit now if you dont have stomach .
GOLD will should up to 1270 - 1230 before the other big down .
Soon this weekend will be war some where in the war ( may be Europ or China east sea .Tension between China & Vietnam is very very sensitive over there .War can start at any moment .This war may destroy the whole world economy because both country are control by crazy dictatorship .Vietnamese communist may shoot the missile destroy Honkong , shanghai ,commercial ships in & out from China ..... ) .
Gold will be up soon to 1270 before the war tension is over .

I am wondering how the sale of half of its gold reserves by Ecuador to Goldman Sachs will affect the price of gold. I suppose it will make it fall further.

Gold tries to halt its decline, but it still feeling the pressure of the USD as the greenback keeps getting stronger previous to the NFP report.

The gold is solid as a rock!
Let's see what happens tomorrow after the ECB's communication.

You guys do know that gold is heavily and openly manipulated, probably by the US government who can't give Germany its gold back? The rumour is all the western reserve banks have run out or are close to running out of gold.

All the technical and other analysis are out of the window, so is supply and demand. US needs a low gold price, they will do anything they can to keep it there, while Asia is buying physical everything they can get their hands on.

One day the short will come to an end rather abruptly. Mean time you can't go short and you certainly can't go long, the US can throw as much paper at this as they can print.

Or if you go long it needs to be unleveraged physical, you can't buy paper is it will suffer from backwardation when the poop hits the fan, iow's no one will believe that the contracts can deliver the physical gold. Any real gold gains will be offset by the backwardation if you own paper only. And you certainly can't buy physical in the west, it will be confiscated Cyprus style quite soon I'd imagine.

You lot are basically scratching the lions balls with a short stick.