My gold thesis...And why looking for shorting oppurtunity....

Check that chart above and compare the basic 5 wave pattern to what I have layed out with the 2 Gold lines Beginning at the inverse head and shoulder...That would be 1 and 2.....The crimson flag pattern in background i a common bull continuation pattern If it holds you would likely see a move into the .618 extension and maybe a spike to the .786 (purple line)and retracement (pink line)back to prior resistance...Note: the uniformity and the price action and how you could lay wave 1 on 3 and come up with the .618 extended move....these are waves 3 and 4 ..The final wave 5 should be a replica of 1 in price action...Only three should over-extend as it is the pure momentum of the bullish/bearish move....After 5 you look for a termination of move and thats were the abc pattern comes in or you could have another 1-5 wave set down which retreaces a 100% is called a 1:1 harmonic or end of move/trend....There are waves inside of waves inside of waves all the time its the fib that helps you find where your at....And its Harmonic patterns to answer your question above....If that flag pattern breaks down you will probably see a move to .786 retracement of wave 1and if it breaks the floor @ 100.05 it will probably run into 98.00's

Break-out in gold up or down is imminent....Market Contraction is coming to a Climax in the wedge....Gold has repeatedly failed to hold the denominator and has Violated crucial support in the 1,300's today....With possible invasion of ukraine and all that drama where are the gold bulls? All I see is a very ugly hanging man.....Either way still favoring and trading with the Confirmed bear trend, patiently waiting for the break out.

I bought 600 ounces at 1312.22 on the 13th and sold for 1314.50 at 8am on the 14th.

Could've rode it out more, but I'm happy enough.

I'd rather actually make money than talk about making money.

Harrekin said:

I bought 600 ounces at 1312.22 on the 13th and sold for 1314.50 at 8am on the 14th.

Could've rode it out more, but I'm happy enough.

I'd rather actually make money than talk about making money.

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Why not both?

when russia starts selling oil in something other than the dollar any thing other than the dollar this house of cards will fall and gold and silver will skyrocket . hold on to that gold and silver and dont sell it off for cash .

pinkjackyle said:

when russia starts selling oil in something other than the dollar any thing other than the dollar this house of cards will fall and gold and silver will skyrocket . hold on to that gold and silver and dont sell it off for cash .

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Not a question of when anymore... Just happened....

ElfoodStampo said:

Not a question of when anymore... Just happened....

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the dollar just lost 30% of it value if this is true . look for india to want to buy oil in their currancy as well if that happens as well then it will certainly be ugly .

pinkjackyle said:

the dollar just lost 30% of it value if this is true . look for india to want to buy oil in their currancy as well if that happens as well then it will certainly be ugly .

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Were fucked.

I am getting ready to buy a few pounds of silver as we speak.

bump

pinkjackyle said:

bump

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Da Mann said:

I am getting ready to buy a few pounds of silver as we speak.

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pinkjackyle said:

the dollar just lost 30% of it value if this is true . look for india to want to buy oil in their currancy as well if that happens as well then it will certainly be ugly .

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I just died....Seriously......Somebody call the ambulance cuz im crawling on the floor....This is the prime example of why people lose money....Sure, gold could jump...But the math is not there...Fundamentals and a story don't mean shit..That's what cnbc feed's you..If that was the case with russia and gold skyrocketing how come it got mercilessly beat back off of 1300.00 couldn't even break 98?? Invasion and all? If you wanna hedge right now try something like TZA or another ETF that's double or tripled leveraged short against the market? BTW the Philly Fed just came out and said they are gonna contain inflation until at least 2018....Stories and the economy do not drive Bull Market's Greed by people way wealthier then you or I does and you just broke out on the yearly charts ...Across all 3 major indexes....Go buy your gold, and forget that patience is the virtue, could at least wait for the breakout....Me? I'll sit back laughin all the way to bank have so far at least with most Gold Bull's......Oil and Gold have no correlation with each other's prices NONE...Fibonacci...Not FUNDAMENTAL'S...Will make you money...Here's the latest Gold chart BTW and I do look for a dip next week and I will buy into it already shaved some position's this week. Don't mean to be so blunt but that's how people should learn to Buy/sell Stock,futures/forex etc...NOT ON STORIES .....But with MATH....O well... JMO

WHODAT@THADOR said:

I just died....Seriously......Somebody call the ambulance cuz im crawling on the floor....This is the prime example of why people lose money....Sure, gold could jump...But the math is not there...Fundamentals and a story don't mean shit..That's what cnbc feed's you..If that was the case with russia and gold skyrocketing how come it got mercilessly beat back off of 1300.00 couldn't even break 98?? Invasion and all? If you wanna hedge right now try something like TZA or another ETF that's double or tripled leveraged short against the market? BTW the Philly Fed just came out and said they are gonna contain inflation until at least 2018....Stories and the economy do not drive Bull Market's Greed by people way wealthier then you or I does and you just broke out on the yearly charts ...Across all 3 major indexes....Go buy your gold, and forget that patience is the virtue, could at least wait for the breakout....Me? I'll sit back laughin all the way to bank have so far at least with most Gold Bull's......Oil and Gold have no correlation with each other's prices NONE...Fibonacci...Not FUNDAMENTAL'S...Will make you money...Here's the latest Gold chart BTW and I do look for a dip next week and I will buy into it already shaved some position's this week. Don't mean to be so blunt but that's how people should learn to Buy/sell Stock,futures/forex etc...NOT ON STORIES .....But with MATH....O well... JMO
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then sell whodat sell sell sell . i doubt you are quite as big as you make yourself out to be . if you trade in gold so much then how is it you dont know its being manipulated ?

Hey Who DAt. You can buy paper. I will buy the real thing. Good lick to you.

pinkjackyle said:

then sell whodat sell sell sell . i doubt you are quite as big as you make yourself out to be . if you trade in gold so much then how is it you dont know its being manipulated ?

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Big? When did I say that? Like, Hedgie Big? Like the same guy's who run Beta program's that manipulate and push the system to FIB percent's? All I've done is told you the way to trade?..Do what ya want PINK...I'm obviously big enough to know ya don't make money off of new's stories .Big enough to know how to read chart's, and that most of your response is ego defence, so does the market BTW..And if ya trade like you were talking ya aint making very much either......

The problem with your charts Whodat is we are in times never before seen. No chart will predict anything in this day.

WHODAT@THADOR said:

Big? When did I say that? Like, Hedgie Big? Like the same guy's who run Beta program's that manipulate and push the system to FIB percent's? All I've done is told you the way to trade?..Do what ya want PINK...I'm obviously big enough to know ya don't make money off of new's stories .Big enough to know how to read chart's, and that most of your response is ego defence, so does the market BTW..And if ya trade like you were talking ya aint making very much either......

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i regret my second sentence , but oil has NEVER been sold in anything other than the dollar since the end of 1974-75 , 39 years and russia the 1-2nd largest oil producer in the world just dumped the petro dollar and i havent seen 1 story about this in the domestic media which tells me its being supressed if things or rather WHEN shit hits the fan there could be the very real possibility of run on the banks, people trying to get their money out . hope you do well with your trades , pink.

Da Mann said:

The problem with your charts Whodat is we are in times never before seen. No chart will predict anything in this day.

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Im sorry Da-mann, But I 100% respectfully disagree with you...You will never be 100% all the time.....But, you can predict trade entries and profit target's

pinkjackyle said:

i regret my second sentence , but oil has NEVER been sold in anything other than the dollar since the end of 1974-75 , 39 years and russia the 1-2nd largest oil producer in the world just dumped the petro dollar and i havent seen 1 story about this in the domestic media which tells me its being supressed if things or rather WHEN shit hits the fan there could be the very real possibility of run on the banks, people trying to get their money out . hope you do well with your trades , pink.

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There is alway's the chance of a Black Swan Event ....I do agree with you on Oil and the Dollar...Having a correlation that effect each other...But. I trade CL based off the chart...USD/Forex I really don't care much about I'm not a fan of PIP'S ...I like my money now with tight stops/Conservative entries and it runs there or it don't.....Day trades.....Investment's are handled different all together....And thank you BTW for that regret ....Best of luck to you as well

So I'm not saying anything ....But maybe I am? I will just let my work speak for itself
Gold current to my posting...... Setting up against 1.618 either catches or burns it...London session maybe? looking to cover part of my position remainder looking @ sub 1200.00 level