GOLD Question

Easy Trader

Master Trader
Sep 17, 2011
240
5
59
Aussi is the one I would stick with. You could use USD against it (AUDUSD) with the idea that the money hiding in the USD will jump over to Bullish gold, if that's your evil minds bias of course ;)

Edit: Just an idea, I don't trade this way so take it with a grain of salt.
 
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The last two weeks have been eye-opening, to say the least. I've simply been scaling GOLD like it going outta style. Even with it's drop under $1300 surprised me. It went "off mkt" a couple of times then reappeared. Movement has slowed but profit is still there for the taking.

With it's descent, I was wondering about GOLD-based currencies, not producers.
 

michael77

Trader
Aug 5, 2013
89
0
17
I never trade on material, but as far i know that if any body have depth knowledge, only then can do well. Trading on material is less volatile but it also become very risky.
 

xProphet

Active Trader
Jul 27, 2013
64
0
27
Occupying Wall Steet.
I think gold was in a major bubble.. It looks like the tech bubble (DJA or dji).. (the charts.)
 

xProphet

Active Trader
Jul 27, 2013
64
0
27
Occupying Wall Steet.
Well,

It blasted up past the $1300 mark this morning and still on the rise.

Ill toss up the chart and do an in-dept analysis tonight, Even add some screen shots to compare. EDIT: I just briefly looked at the chart and stand by what I said. A correction in the trend is normal, just like down days (or weeks) in an uptrend. The only real question is; where is the bottom? because there is really nothing to go on historically.
 
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xProphet

Active Trader
Jul 27, 2013
64
0
27
Occupying Wall Steet.
This chart (ZG Future) ends on 8/2/2013. I think this bubble occurred because of the flash crash and gold being seen as a safe haven when stocks are in trouble. All my indicators confirm a solid downtrend. The only thing I see that might be a problem for this trend is that it is bouncing around the area where the bubble seemed to jump start.. (the very first red arrow on the left.) that being said, it still has a lot of wiggle room to the downside. If you want me to toss in all the "tech talk", just say so.. (I usually try and spare people it.)

Ill edit this and show you the tech bubble as a comparison. (As far as the charts themselves are concerned)

"Flash Crash Gold Bubble"
s3yu.jpg



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Dow Jones "90s Tech Bubble":
9ldi.jpg


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The fan lines, "various angles of attack", are good indication of a bubble. I generally like to see the angles increasing in degrees as the bubble nears it's end with the highest degree being the last major peek up. Also, Increasing volatility as the end nears. This is "fan lines" with my own twist on it.

bonus:
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USD/JPY "Possible" Bubble
sx28.jpg



Anyways, sorry for turning this thread into a discussion on bubbles.


(All pictures were made by me)
 
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Gold PriceZ

Newbie
Aug 18, 2016
6
0
1
44
The gold price is gradually going up, and it appears difficult to reverse back in the near future.
It can be a good opportunity for investors in the long run only. Day traders should be careful.
Thanks
 
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jellyeb

Active Trader
Jun 10, 2015
248
11
29
I think gold will accelerate decline in next week due to Dollar strengthening. It dropped 0.60% today I think I'm going to short the bullion with small lot (0.1 size)
 

f4forex

Active Trader
Oct 8, 2015
231
2
29
41
Although most of the times the gold market is bearish but i think many traders can still finds their way making money by selling it short too.
 

jellyeb

Active Trader
Jun 10, 2015
248
11
29
Since GOLD went UNDER $1300 this morning, can someone direct me to a list of countries/currencies based on GOLD, besides Australia and Canada?

Thanks. My evil mind's at it again! LOL

Do you mean gold producers?? Then its Russian, Uzbekistan, US.
 

f4forex

Active Trader
Oct 8, 2015
231
2
29
41
I guess South Africa is also one the largest gold producers in the world but after 2006 China, Russia, United States, Peru and Australia have surpassed SA gold production.