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Gold Price - Where is it heading?

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Hi Barrett swinging is risky on POG , set limits are easier , market can put you anywhere above or below the price , some are wild .

I have that it has to breach back through 920.45-55 before real worries , but never discount anything in assumption ...........


920.40/45/50/55/60/65 all had the markings to buy on the trend for me .

I only got one entry out of all of those , it flew past before I could act .

Someone just smashed the price down earlier , but if there looking now they'd be kicking themselves I'd say .

The scuffle spot is being approached again @ 921.25 just below that I have another smaller entry waiting ( 920.90 ) . The sell signal is good profit or panic .

But with Fedspeak on the roster today , it had to be worth a shot .

Spotted Alliance falling like a rock again , Blackstone stuff I'd say , Kauri will be stoked , I think he's short , hope he is they're copping it today .
 
there ya go Barrett exactly $1 under that line it dropped to

920.40/45/50/55/60/65 inferred actual (919.45/50/55)
 
Still looking for a re-entry after a stop was taken out earlier, should have bought at 916, continuation of neckline for last week's huge inverted H&S, has been touched a couple of times, maybe the last..

I found that huge selloff earlier a bit suspicious,12-1am slot seems to be the favourite for central bank selling, maybe they were intentionally trying to trigger all the sell stops below 919-920? That might explain why volume has tailed off so much now the public purse isn't involved..

Looks like you programmed your algorithm into MT4 as an expert advisor, Ithatheekret? I haven't tried that yet (aside from not having an algorithm..), is the system working well?

Re the series of numbers you mentioned.. I am watching a 5-min candlestick chart, didn't notice those series, what format of chart are you watching?
 
I have my settings put in by a couple of friends from town , can't tell you the settings off hand , been struggling with it already , tried to get it to feed into HSBC a/c platform and it froze first time crashed the second .

The M4 feed platform I was directed to as a free download , completely different to anything else I've used , every 10 minutes or so it refreshes , but I was told that can be sped up or didn't need to be set to refresh .

Are you asking in regards to trigger lines and buffers ?

Sometimes I can get it to accept , sometimes it just won't , I've been told the code is either outside it's parameters or completely wrong . One thing I did find was that if I didn't untick the position limit it would pack up on me , now it takes loads of securities settings , had to figure out that a simple unticking of a box allowed further entries etc., Then I had a few problems with the EST , I think that's all sorted out now ..........

This is embarrassing , but it took me ages to figure out that to merge data first I had to open the downloader, click on tools, and then merge. Browse to the folder of the first ticker and select the first ticker. For the destination I repeated the same thing and clicked on options, select keep destination and then and or delete source. Then click OK .

Sometimes it won't allow the merge , don't know why ... yet .


PS,,, Haven't had any problems at all with the NAB account , it accepts all feeds so far .
 
there's a file somewhere named ~msfl on this , on my hard drive somewhere , but I haven't found it in the search yet and I need to .

would you know if this is the correct code for the folder ?
 
The rate cut, the dollar down and there she goes
 

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Geez, you guys are awake awfully early in the morning for this.

Now for the GATA golden bombshell tonight! go go go!
 
Still holding above previous highs, and within uptrend (in white) on the hourly despite not being able to hold its Fed-gains this time..
 

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The major influence on the POG since the 22th of Jan has been the Fed rate cut carrot. Now that the cut has come and gone it'll be interesting to see how the POG travels. I wouldn't be surprised to see it drift downwards over the next few days courtesy of a bit of profit taking.
 

The US$ usually drifts downward after a rate cut, because lower interest rate means less value. The gold price goes up when the dollar goes down.

Why do you think that the gold price may go down ?
 
explod said:
The US$ usually drifts downward after a rate cut, because lower interest rate means less value. The gold price goes up when the dollar goes down.

Why do you think that the gold price may go down ?
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Profit taking.

edit 1: Have a look at Barrett's graph b/w the 22nd - 24th.

edit 2: and I reckon the main reason the POG shot up the 25th was because the rumour mill started that another 50 points were on the way.
 
Technically, it has to come down sooner or later to ease off the overbrought condition. (or move sideways for a while) How much down or how long the sideway? I doubt anybody would know. Since I'm not trading this particular "investment", I would be looking to buy on the dips.
 
I'll put my hand up , I was evil and took profits and I didn't take the top either 928.10 , then it went further , I sold the last poz . at 9.29.80 I think and it still kept going . Then it plunged again as it had twice before on the night , someone needed cash quickly ..............

The only thing I have open apart from ASX listed , is GBP sell and some options on AUD .

But , I do expect the currencies to wobble , POG probably will too , lots of money still going home to the US and Japan .
 
The Fed will cut to at least 1% so there is still a lot of upside to POG.
Certainly POG will take out $1000 without a problem, so it's just a matter of how much further before a major correction (minimum 15%) and spell in the wilderness.
 
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