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  1. #21
    Legendry Member willyw's Avatar
    XAU/USD WEEKLY as of Tuesday, 05 February, 2013
    John Murphy Chart Pattern Recognition (CPR)
    An Ascending Triangle pattern formed indicating a possible trading opportunity. An Ascending Triangle is bullish. It is usually (but not always) preceded by an uptrend. The probabilities favor a continuation of the prevailing trend. Traders wanting to front-run a confirmed breakout signal may place a buy-stop for entry at 1,757.79
    An Inside Week Narrow Range was detected by your Elliott Waves High Volatility on 04/02/13. This is a trade set-up opportunity and for as the trend is bullish, place a buy-stop at one tick above 1,683.43 and a sell-stop at one tick below 1,661.85.
    The present wave patterns are:
    fast amplitude (8%): bullish wave 2
    moderate amplitude (13%): bullish wave 3
    Attached Images Attached Images   

  2. #22
    Specialist Member marvel's Avatar
    You could not be in agreement with my opinion, but I will give you my honest opinion. Gold and silver are waiting to start a huge rally later this year, which will lead them to new all time highs. The problem is the timing of the start of such movement. I think when the stock indexes start a bigger correction will be the moment for the precious metals upside move. The reason for that is because they will be used as a safe heaven assets in times of bigger volatility and risks.

  3. #23
    Master Member vinayakm's Avatar
    Quote Originally Posted by marvel View Post
    You could not be in agreement with my opinion, but I will give you my honest opinion. Gold and silver are waiting to start a huge rally later this year, which will lead them to new all time highs. The problem is the timing of the start of such movement. I think when the stock indexes start a bigger correction will be the moment for the precious metals upside move. The reason for that is because they will be used as a safe heaven assets in times of bigger volatility and risks.
    Hey marvel,

    If this is addressed to me, I want to say that you could very well be right. But here on "binary options that suck", we're focused on the here and now since its binary trading that we're involved with. It doesn't really matter what happens later this year.

  4. #24
    Solid Member Peter Green's Avatar
    Quote Originally Posted by vinayakm View Post
    Hey marvel,
    If this is addressed to me, I want to say that you could very well be right. But here on "binary options that suck", we're focused on the here and now since its binary trading that we're involved with. It doesn't really matter what happens later this year.
    Good point vinayakm If we have to stick to now and not to the future I think the precious metals are heading nowhere. They are in some kind of a range, which probably will continue side way down, or less probable side way up. It will end sometime but for now that’s the reality.

  5. #25
    Veteran Member uj.forex's Avatar
    see, 200 EMA line on daily chart.. so critical as I always say... I used that, and enjoyed a HUGE downward rally... Gold is drowning... May enter in 1400s range if breaks 1527.... But I think it won't be easy for it to go THAT down... coz this metal still has investors after it....

  6. #26
    Solid Member Peter Green's Avatar
    Several weeks sideway movement down! Do you think it is close to reverse? For me precious metals could not go further down a lot. They have a lot of regular buyers including big investors like Paulson and also central banks and IMF are also net buyers. With such a money printing press it couldn’t go down with such an inflation pressure ahead. Do you think so?

  7. #27
    Senior Member Deanfx's Avatar
    No I don't think so Peter and there is a reason why. The gold and silver were strong in times when dollar depreciates. Now the dollar index is close to its all time record low value and the gold is still close to its all time high even if the inflation is taken into account. That’s why if the dollar start to rise also the yields on the bonds will rise and there will be a tremendous outflow of the precious metals toward higher yielding assets. Here is the picture I am talking about.

    Name:  dollar gold.jpg
Views: 24
Size:  16.5 KB

  8. #28
    Master Member vinayakm's Avatar
    Quote Originally Posted by Deanfx View Post
    No I don't think so Peter and there is a reason why. The gold and silver were strong in times when dollar depreciates. Now the dollar index is close to its all time record low value and the gold is still close to its all time high even if the inflation is taken into account. That’s why if the dollar start to rise also the yields on the bonds will rise and there will be a tremendous outflow of the precious metals toward higher yielding assets. Here is the picture I am talking about.

    Name:  dollar gold.jpg
Views: 24
Size:  16.5 KB
    Interesting. Thanks a lot for sharing this on here Deanfx.

  9. #29
    Veteran Member uj.forex's Avatar
    looking forward to 1595 and 1585 level...

  10. #30
    Specialist Member RCox's Avatar
    Quote Originally Posted by Deanfx View Post
    No I don't think so Peter and there is a reason why. The gold and silver were strong in times when dollar depreciates.
    No, thats not really true. Both the US Dollar and gold tend to perform well in the same types of environments because they have a very a very high positive correlation (tend to move in tandem with one another). These cases tend to be seen when markets are experiencing liquidity problems or there are major event risks bringing uncertainty into the markets. In these cases, investors tend to move into defensive stocks (such as consumer staples), the US Dollar and Gold as these assets have a long history of being stable stores of value. I think what might be confusing you is the fact that Gold is priced in Dollars, so a major move in one can look like it is having an effect on the other. But this is actually not the case if you look at a wider collection of assets (which will usually show similar price movements).

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