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mohsinqureshii

Gold Bullish or Bearish

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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

xauusd23.thumb.jpg.dbf1feefbf49c8c6a250361fb4ba5cfd.jpg

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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.

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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.

gold31.jpg.4d5d60a350f47492db0c62a31ed67084.jpg

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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

gold02.jpg.9d38dfe7da6ac54e3f8af818457c21b2.jpg

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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...

gold11.jpg.1856220e59c461744f281a14cc854e13.jpg

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guess i have to thank Fed for accelerating gold's climb...target reached, position closed..now going back to sleep again :cool:
Noticed where you previously said close 2/3 raise sl but nothing prior about when and at what price you actually entered long? :hmmmm:

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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

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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.

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