Gold Triple Top Price Collapse Soon!!

Quote from JSSPMK:

30 & 10 min charts indicate another likely push to at least re-test $890 zone ImO.
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Christ, this is THE time to make serious money buying gold, unreal :)

JR, where are you mate?
 
beware the central banks dropping hundreds of tons on the market....

if we stall just under 900, there's 75 bucks down easy....

an opinion of course.................
 
Quote from daddyeaux:

beware the central banks dropping hundreds of tons on the market....

if we stall just under 900, there's 75 bucks down easy....

an opinion of course.................
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Sure, point is D, there was a major major opportunity to make a lot of money being long based on daily pennant, it was one of THE safest plays in technical based trading vs JR's call for end of the run in metals :)
 
Quote from daddyeaux:

I saw the same breakout, and did well with it.....

but gold is competition for paper and there lies the fight ahead.....
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If you are a technical trader you have to, ImO entirely, forget about sentiment and just trade the chart alongside whatever other tools you use, so this may be getting close to a retrace time in metals, so we just move on and look for new opportunities :)
 
partly agree, gold is an emotional market for 90% of the people...

what makes me nervous is a friend who doesn't invest in much of anything called me today asked if I knew gold was flying....

beware......
 
Sure D, I daytrade fDAX mainly and it is also very emotional intraday, I work with histogram a lot and it is a great barometer of emotion.

Quote from JSSPMK:


As far as something happening in China on 9th Jan, I wasn't aware of that event. Now it makes perfect sense why we have seen such a lift, why give it to Chinese at discount? hehe :)
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I am a technical trader but I do find sentiment to be very valid. All you hear about on TV is gold. To me, that's a sign of topping....when gold peaked in 1980 it crashed down about $200 in 2 weeks.
 
You need to ask yourself, why is Gold acting as it is? Next 5 years anyone see Gold $2,000.

Dollar got a lot further to drop. USA market long term, is not looking good. Maybe the Dollar will merge with the EUR. Then the other currency will follow. Is this what the USA & European Union wants to form a one world currency. Are the USA running the European union from behind the scene? :eek:

Who knows, but there seems to be trouble brewing.
 
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