Gold is finished
- Thread starter ChkitOut
- Start date
Got to love the only 2 arguments the Gold bears can ever come up with -
1. It's just a metal, it can't be used for anything, it's only valuable because others believe it's valuable.
2. It's gone too high.
When those are the only 2 points to argue on you know you're on very weak ground.
PS. If/when Gold gets smacked, and chances are it will at some point, losing $100-$300 then that doesn't mean you're right.
All that will be is a natural selloff within a massive long term bullmarket. Study the last 10 years, the big and sudden selloffs are there in black and white, but look hard what happened afterwards, and every time.......
1. It's just a metal, it can't be used for anything, it's only valuable because others believe it's valuable.
2. It's gone too high.
When those are the only 2 points to argue on you know you're on very weak ground.
PS. If/when Gold gets smacked, and chances are it will at some point, losing $100-$300 then that doesn't mean you're right.
All that will be is a natural selloff within a massive long term bullmarket. Study the last 10 years, the big and sudden selloffs are there in black and white, but look hard what happened afterwards, and every time.......
For any newbies who want a free extremely useful lesson in how to actually make money trading gold from an extremely seasoned and resourceful trader, here it is-
1. Do NOT buy gold until the Dow falls below 9,300!!!
Gold is overvalued currently, i was trading it back in 2008/9 and was ONLY BUYING it back then when it was at $867,
and at that time dow was in the 7,500-8,600 range.
So wait until dow crashes down to the 9,000s, as gold will follow (since dollar will be ALOT stronger if dow does that).
2. For now whilst gold is so extremely overvalued you look at the daily/weekly/monthly charts,
wait until you see vertical spikes up of 50-90dollars over 4-6days straight,
then you go to the 5/3/2min chart and look to see where the key S&R levels are (as there will be none showing on longer timeframes within last few years),
and then on 1minute/tick-by-tick wait until gold forms an bearish price-action formation such as head-and-shoulders or cats-ears formation,
and then sell the piece of shit (with typical target of between 6-13dollars movement down.
DO NOT BE GREEDY BY TRYING TO SHORT-SELL SWING-TRADE TRADE IT OR YOU WILL GET RAPED.
1. Do NOT buy gold until the Dow falls below 9,300!!!
Gold is overvalued currently, i was trading it back in 2008/9 and was ONLY BUYING it back then when it was at $867,
and at that time dow was in the 7,500-8,600 range.
So wait until dow crashes down to the 9,000s, as gold will follow (since dollar will be ALOT stronger if dow does that).
2. For now whilst gold is so extremely overvalued you look at the daily/weekly/monthly charts,
wait until you see vertical spikes up of 50-90dollars over 4-6days straight,
then you go to the 5/3/2min chart and look to see where the key S&R levels are (as there will be none showing on longer timeframes within last few years),
and then on 1minute/tick-by-tick wait until gold forms an bearish price-action formation such as head-and-shoulders or cats-ears formation,
and then sell the piece of shit (with typical target of between 6-13dollars movement down.
DO NOT BE GREEDY BY TRYING TO SHORT-SELL SWING-TRADE TRADE IT OR YOU WILL GET RAPED.
Quote from ChkitOut:
give or take a few <font color="red" size="4"> hundred </font> bucks. You cant expect me to nail the top tick do you??
There...I fixed your original statement. That should give you some breathing room for a while.
==============Quote from pattern39:
Gold is finished when it does this... (Not investment advice):
Pattern39,000
Cool chart ,10 year cool candle chart.
Some may be using other charts, that old 10 year chart had the top @$1700.Not a prediction.
Deutsche Bank, JP Morgan, Goldman - all calling for higher gold prices TODAY.
My conclusion: STRONG SELL SIGNAL DE LUXE.
wtf NEM
Quote from ChkitOut:
just 100, thats all i need.
Gold $1,746 now.
Looks like your hundred is about up. When gold hits $1,800 and then drops down to $1,790, I dont want to see you on here yelling "SEE!!! I TOLD YOU IT WOULD GO DOWN!!!"
