GOLD v/s USD.: changing co-relation

[DanPickUp]

Re: Gold -Short situation.

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[aditya14]

Re: Gold -Short situation.

Exactly when we went up it was with paltry volumes in gold.So this was a pullback from 1045 lows from earlier month.Now it may go bust again or we will see whether greece is saved and we go back above 1080 and higher.

 

[DanPickUp]

Re: Gold -Short situation.

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[findvikas]

Re: Gold -Short situation.

It was nice explanation Dan and it could be only a pull back or something big and when comes to Pro traders I am sure they know how to hide the actual facts from the rest

About the dying volume... it is good and not see any sign of trouble yet for my long gold & short dollar take.

 

[DanPickUp]

Re: Gold -Short situation.

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[findvikas]

Re: Gold -Short situation.

did anyone saw the gold tonight??? $1097 I got to book some. gdnite

Interesting enough...see how the dried volume drive the price upward... now I expect a good volume show to break out of the wedge to the upside.... lets wait.. we might touch the target before expiry.

 

[findvikas]

Re: Gold -Short situation.

Let's talk about correlation now... SPX & DOW both made a bearish wave today but not yet broken below it... they both may correct as much as 3-4% in coming few days...

I do not have SPX volume data but DJIA volume is high at point 5

 

[DanPickUp]

Re: Gold -Short situation.

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[findvikas]

Re: Gold -Short situation.

I do not really follow EW but found it interesting to read...

Interestingly he and I have similar views, may be that's why I found it interesting

h t t p : / / danericselliottwaves . blogspot . com


Daneric's chart puts this crash starting at the middle of today's session. My count on Euro suggests it could start declining rapidly at any time (it's already done a 50% retracement of the 1.38 to 1.3588 drop, but maybe it goes for 61.7%). Most likely starting time would be during the London session tonight but definitely by open on Tuesday.

I suppose if everyone is expecting a crash over the long weekend, we could expect a morning rally to get hopes up, and then a big dumping of stocks near the close.

Lots of contradictory rumors coming out of Europe. The latest is that Germany is opposed to lending funds to Greece. OTOH, the Polish PM says that if Greece needs money they will get it... and the saga continues...

 

[simu2004]

Re: Gold -Short situation.

Hi,

Normally I trade in base metals and would like to know if there is a resource/link which provides a fundamental view on short term or inter-mediate terms.

Cheers