Gold review

MDunleavy · #1 (**permalink**) 04-12-2009, 13:49

Gold reaches as high as 1227.5 so far and at this point, intraday bias remains on the upside for mentioned target of 61.8% projection of 1026.9 to 1196 from 1130.1 at 1233.7. Break will target medium term projection level at 1258. On the downside, below 1208 minor support will indicate that an intraday top is in place and bring pull back, probably to 4 hours 55 EMA (now at 1182.6) before staging another rise.
In the bigger picture, rise from 681 is expected to develop into a set of five wave sequence with first wave completed at 1007.7, second wave triangle consolidation completed at 931.3. Rise from 931.3 is treated as the third wave and there is no indication of completion yet. Such rally is still expected to continue and target 100% projection of 681 to 1007.7 from 931.3 at 1258. We'll hold on to this bullish view as long as 1072 resistance turn supported holds.[oilngold]

"P&F GOLD10080 Box Size3200X2 or(8.66%) CLOSE
Data 1226.37 - 251.7 ~ 215 Month ~ 6545 Day
Database 942 records [COLOR="DarkOrange"]1203.55 (Last Close)[/COLOR]
[COLOR="Blue"]1991-12-29 00~00
2009-11-29 00~00[/COLOR] (GMT+01:00) Paris
BJF Trading Group chart"

1216.00|~32OO|____________________________________ ________________________|0.85%|383.11%
1184.00|~64OO|____________________________________ ______________________x_|3.45%|370.4%
1152.00|~96OO|____________________________________ ______________________x_|6.06%|357.69%
1120.00|~128O|____________________________________ ______________________x_|8.67%|344.97%
1088.00|~16OO|____________________________________ ______________________x_|11.28%|332.26%
1056.00|~192O|____________________________________ ______________________x_|13.89%|319.55%
1024.00|~224O|____________________________________ ______________________x_|16.5%|306.83%
992.00|~256O||__________________________________x_ ______________x_______x_|19.11%|294.12%
960.00|~288O||__________________________________x_ o_x___________x_o_x___x_|21.72%|281.41%
928.00|~32OO||__________________________________x_ o_x_o_________x_o_x_o_x_|24.33%|268.69%
896.00|~352O||__________________________________x_ o_x_o_________x_o_x_o___|26.94%|255.98%
864.00|~384O||__________________________________x_ o_x_o_x_______x_o_______|29.55%|243.27%
832.00|~416O||__________________________________x_ o___o_x_o_____x_________|32.16%|230.55%
800.00|~448O||__________________________________x_ ____o_x_o_x___x_________|34.77%|217.84%
768.00|~48OO||__________________________________x_ ____o_x_o_x_o_x_________|37.38%|205.13%
736.00|~512O||__________________________________x_ ____o___o_x_o___________|39.99%|192.41%
704.00|~544O||______________________x___________x_ ________o_______________|42.59%|179.7%
672.00|~576O||______________________x_o_________x_ ________________________|45.2%|166.98%
640.00|~6O8O||______________________x_o_x___x___x_ ________________________|47.81%|154.27%
608.00|~64OO||______________________x_o_x_o_x_o_x_ ________________________|50.42%|141.56%
576.00|~672O||______________________x_o___o_x_o___ ________________________|53.03%|128.84%
544.00|~7O4O||______________________x_____o_______ ________________________|55.64%|116.13%
512.00|~736O||______________________x_____________ ________________________|58.25%|103.42%
480.00|~768O||______________________x_____________ ________________________|60.86%|90.7%
448.00|~8OOO||__________________x___x_____________ ________________________|63.47%|77.99%
416.00|~832O||______________x___x_o_x_____________ ________________________|66.08%|65.28%
384.00|~864O||__x___x_______x_o_x_o_______________ ________________________|68.69%|52.56%
352.00|~896O||__x_o_x_o_____x_o___________________ ________________________|71.3%|39.85%
320.00|~928O||o___o___o_x___x_____________________ ________________________|73.91%|27.14%
288.00|~96OO||________o_x_o_x_____________________ ________________________|76.52%|14.42%
256.00|~992O||________o_x_o_______________________ ________________________|79.13%|1.71%
224.00|~1O24||________o___________________________ ________________________|81.73%|-11.01%
Column|~1O56||1_2_2_2_5_3_2_5_2_3_2_104_2_3_3_2_13 5_4_7_4_5_3_2_8_4_3_2_9_|
Count

BJF-Trading-Group-GOLD_H4and5min_091204.xls

Egwig · #2 (**permalink**) 04-12-2009, 16:22

I have only ever traded FX.

Is there a recommended broker/platform for trading gold etc?

Egwig

MDunleavy · #3 (**permalink**) 08-01-2010, 19:13

Try Oanda... Securely ...

Quote:

Originally Posted by Egwig

I have only ever traded FX.

Is there a recommended broker/platform for trading gold etc?

Egwig

Gold's recovery stalled after hitting 38.2% retracement of 1227.5 to 1075.2 at 1133.4 and with 4 hours MACD crossed below signal line, intraday bias is turned neutral. With 1115.9 minor support intact, another rise cannot be ruled out and above 1141 will target 61.8% retracement at 1169.3 next. On the downside, however, break of 1115.9 minor support will argue that recovery from 1075.2 might have completed and will flip intraday bias back to the downside for retesting this support.
In the bigger picture, rise from 681 is expected to develop into a set of five wave sequence with first wave completed at 1007.7, second wave triangle consolidation completed at 931.3. Rise from 931.3 is treated as the third wave and has possibly completed at 1227.5 after missing 100% projection of 681 to 1007.7 from 931.3 at 1258. Deeper pull back could now be seen to 1026.9/1072 support zone, or even further to retest 1000 psychological level. But downside should be contained well above 931.3 support and bring up trend resumption to another high above 1227.5.[oilngold]

"P&F GOLD240 Box Size1780X3 or(5.6%) HI/LO
Data 1226.37 - 681.4 ~ 16 Month ~ 476.5 Day
Database 2011 records [COLOR="DarkOrange"]1122.27 (Last Close)[/COLOR]
[COLOR="Blue"]2008-09-19 00~00
2010-01-08 12~00[/COLOR] (GMT+01:00) Paris
BJF Trading Group chart"

1228.20|~1780||___________________________________ _________|-0.15%|80.25%
1210.40|~3560||___________________________________ ___x_o___|1.3%|77.63%
1192.60|~5340||__________________________________x ___x_o___|2.75%|75.02%
1174.80|~7120||__________________________________x _o_x_o___|4.21%|72.41%
1157.00|~89O0||__________________________________x _o_x_o___|5.66%|69.8%
1139.20|~1O680|__________________________________x _o___o_x_|7.11%|67.19%
1121.40|~12460|__________________________________x _____o_x_|8.56%|64.57%
1103.60|~14240|__________________________________x _____o_x_|10.01%|61.96%
1085.80|~16O20|__________________________________x _____o___|11.46%|59.35%
1068.00|~178O0|__________________________________x _________|12.91%|56.74%
1050.20|~19580|__________________________________x _________|14.37%|54.12%
1032.40|~21360|__________________________________x _________|15.82%|51.51%
1014.60|~23140|__________________________________x _________|17.27%|48.9%
996.80|~24920||______________________x___________x _________|18.72%|46.29%
979.00|~267O0||______________________x_o_____x___x _________|20.17%|43.67%
961.20|~28480||______________________x_o_x___x_o_x _________|21.62%|41.06%
943.40|~3O260||______________________x_o_x_o_x_o_x _________|23.07%|38.45%
925.60|~32O40||______x_______________x_o_x_o_x_o_x _________|24.53%|35.84%
907.80|~33820||__x___x_o_____________x_o_x_o_x_o__ _________|25.98%|33.23%
890.00|~356O0||__x_o_x_o_____________x_o___o_x____ _________|27.43%|30.61%
872.20|~37380||__x_o_x_o_________x___x_____o______ _________|28.88%|28%
854.40|~39160||__x_o_x_o_________x_o_x____________ _________|30.33%|25.39%
836.60|~4O940||o___o___o_________x_o_x____________ _________|31.78%|22.78%
818.80|~42720||o_______o_____x___x_o______________ _________|33.23%|20.16%
801.00|~445O0||________o_____x_o_x________________ _________|34.69%|17.55%
783.20|~46280||________o_____x_o_x________________ _________|36.14%|14.94%
765.40|~48O60||________o_x___x_o_x________________ _________|37.59%|12.33%
747.60|~49840||________o_x_o_x_o__________________ _________|39.04%|9.72%
729.80|~51620||________o_x_o_x____________________ _________|40.49%|7.1%
712.00|~534O0||________o_x_o______________________ _________|41.94%|4.49%
694.20|~55180||________o__________________________ _________|43.39%|1.88%
676.40|~56960||___________________________________ _________|44.85%|-0.73%
Column|~58740||2_4_4_5_134_3_6_4_7_3_106_4_5_6_4_1 63_4_8_3_|
Count

BJF-Trading-Group-GOLD_30min

dopod · #4 (**permalink**) 15-01-2010, 00:41

Hi,
any updates on gold? any forecast that gold will be on uptrend or downtrend for the coming week?

wakacyjna · #5 (**permalink**) 15-01-2010, 08:28

Is it the end of gold rally?

wakacyjna · #6 (**permalink**) 22-02-2010, 06:24

Anybody playing gold?

MDunleavy · #7 (**permalink**) 25-02-2010, 17:19

As discussed before, Gold's choppy recovery from 1044.5 should have completed at 1131.5 already after failing to sustain above 1126.4 resistance. Intraday bias remains on the downside for the moment for 1044.5 low and below to extend the whole correction from 1227.5. On the upside, above 1108.8 minor resistance will turn intraday bias neutral again. Also, note that break of 1131.5 resistance now should confirm that fall from 1227.5 has completed with three waves down to 1044.5 and should bring retest of this high.

In the bigger picture, outlook remains broadly unchanged. Price actions from 1227.5 are treated as corrections to rise from 931.3 only. Hence, even in case of another fall, downside is expected to be contained by 100% projection of 1227.2 to 1075.2 from 1163 at 1010.7, which is close to 1000 psychological level and bring long term up trend resumption. Decisive break of 1163 resistance will indicate that such correction has already completed and the long term up trend is set to resume for another high above 1227.5.[Written by Oil N' Gold]

"P&F GOLD1440 Box Size30X2 or(7.98%) CLOSE
Data 1215.1 - 288.39 ~ 96 Month ~ 2943 Day
Database 2000 records 1094.73 (Last Close)
2002-02-04 00~00
2010-02-25 00~00 (GMT+01:00) Paris
BJF Trading Group chart"

1200.00|~3OOO|____________________________________ X____|1.24%|316.1%
1170.00|~6OOO|____________________________________ Xo___|3.71%|305.7%
1140.00|~9OOO|____________________________________ XoX__|6.18%|295.3%
1110.00|~12OO|==================================== XoXoX|8.65%|284.9%
1080.00|~15OO|____________________________________ Xo_oX|11.12%|274.49%
1050.00|~18OO|==================================== X==o=|13.59%|264.09%
1020.0|~21OOO|____________________________________ X____|16.06%|253.69%
990.00|~24OOO|________________X_____________X_____ X____|18.53%|243.29%
960.00|~27OOO|________________Xo__X_________Xo__X_ X____|20.99%|232.88%
930.00|~3OOOO|________________XoX_Xo________XoX_Xo X____|23.46%|222.48%
900.00|~33OOO|______________X_XoXoXoX_X_____XoXoXo _____|25.93%|212.08%
870.00|~36OOO|______________XoXoXoXoXoXo__X_Xo_oX_ _____|28.4%|201.67%
840.00|~39OOO|______________Xo_o_o_oXoXo__XoX__o__ _____|30.87%|191.27%
810.00|~42OOO|______________X______oXo_oX_Xo______ _____|33.34%|180.87%
780.00|~45OOO|______________X______oX__oXoX_______ _____|35.81%|170.47%
750.00|~48OOO|______________X______oX__oXo________ _____|38.28%|160.06%
720.00|~51OOO|______________X______o___oX_________ _____|40.75%|149.66%
690.00|~54OOO|________X___X_X__________o__________ _____|43.21%|139.26%
660.00|~57OOO|________XoX_XoX_____________________ _____|45.68%|128.86%
630.00|~6OOOO|________XoXoXo______________________ _____|48.15%|118.45%
600.00|~63OOO|________XoXoX_______________________ _____|50.62%|108.05%
570.00|~66OOO|______X_XoXo________________________ _____|53.09%|97.65%
540.00|~69OOO|______XoXo__________________________ _____|55.56%|87.25%
510.00|~72OOO|______Xo____________________________ _____|58.03%|76.84%
480.00|~75OOO|______X_____________________________ _____|60.5%|66.44%
450.00|~78OOO|____X_X_____________________________ _____|62.97%|56.04%
420.00|~81OOO|__X_XoX_____________________________ _____|65.43%|45.64%
390.00|~84OOO|__XoXo______________________________ _____|67.9%|35.23%
360.00|~87OOO|X_Xo________________________________ _____|70.37%|24.83%
330.00|~9OOOO|XoX_________________________________ _____|72.84%|14.43%
300.00|~93OOO|Xo__________________________________ _____|75.31%|4.03%
270.00|~96OOO|____________________________________ _____|77.78%|-6.38%
Column||||||||324232626543429255334863374242642342 14232|
Count|||||||||____________________________________ O____|

BJF-Trading-Group_Excel_Chart

MDunleavy · #8 (**permalink**) 17-04-2010, 09:37

Gold is still bounded in choppy sideway trading below 1170.7 and intraday bias remains neutral. Another fall might be seen but downside should be contained by 38.2% retracement of 1084.8 to 1170.7 at 1137.9 and bring rally resumption. Break of 1170.7 will target 100% projection of 1044.5 to 1145.8 from 1084.8 at 1186 level next.
In the bigger picture, price actions from 1227.5 are treated as correction to rise from 931.3 only, no doubt. The lack of impulsive structure of rise from 1044.5 argues it's possibly part of consolidation from 1227.5, rather than resumption of the long term up trend. Hence upside will likely be limited by 1227.5 high and bring at least one more fall before the consolidation concludes. On the downside, below 1084.8 support will indicate that the third leg of consolidations has started and should then target 1044.5 again.

"P&F GOLD1440 Box Size 30X2 or(7.89%) HI/LO
Data 1226.37 - 295.35 ~ 97 Month ~ 2943 Day
Database 2000 records 1137.11 (Last Close)
2002-03-26 00~00
2010-04-16 00~00 (GMT+01:00) Paris
BJF Trading Group chart"

BJF-Trading-Group_Excel_Chart

MDunleavy · #9 (**permalink**) 28-05-2010, 08:35

Trade Idea: GOLD - Sell at 1212/1218 Target: 1182/1176 ; Stop: 1236
==================================================
Gold's pull back from 1249.7 has possibly completed at 1166 already. Intraday bias remains
mildly on the upside for 1249.7 resistance first. Break will confirm up trend resumption for
1300 psychological level next. However, note that firm break of 1170.7 will argue that whole
rise from 1044.5 is completed and will turn outlook bearish for 1124.3 support instead.

"P&F GOLD1 Box Size $0.5X4 or(0.17%) CLOSE
Data 1218.21 - 1205.91 ~ 0 Month ~ 1.63 Day
Database 2198 records 1212.59 (Last Close)
2010-05-26 17~03
2010-05-28 08~09 (GMT+01:00) Paris
BJF Trading Group MDunleavy chart"

BJF-Trading-Group_Excel_Chart

adria · #10 (**permalink**) 12-06-2010, 13:27

I have read that the Gold jumped out of a tight trading range at the start of New York dealing on Friday, rising to show a 0.5% weekly gain at $1227 an ounce as investment capital moved into "safe haven" assets on news of a sharp drop in US retail sales.