tag:blogger.com,1999:blog-1708908742323002823.post2193938374031059642..comments2024-02-10T02:18:27.240-08:00Comments on Trader Dan's Market Views: Gold Reaches Resistance at $1780Trader Danhttp://www.blogger.com/profile/05484363461047659198noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-1708908742323002823.post-78104736190494968992012-02-22T17:52:55.411-08:002012-02-22T17:52:55.411-08:00Two large bids took out all the asks from 1755 to ...Two large bids took out all the asks from 1755 to 1760, and then from 1760 to 1765. After that, the momentum traders piled in for the rest. That is two days in a row a half an hour before the crimex close that gold had a significant move up. <br /><br />Personally, I think it was a confluence of events: <br /><br />1) The cartel is allowing a bull cycle in gold, given the COT data, and did not oppose the runnup until 1780. <br /><br />2) Pressure has been building on the long side fundamentals for a while (BOE, China, Japan). With gold underperforming, while platinum and palladium was screeming higher. <br /><br />I remain highly cynical of the system as you can tell, and the cartel is running the show like they have been for a long while now - especially on the weak volume we have now after MF Global, with Jeffries in the warm up circle. Now that could change in a heartbeat, but until the fractional reserve paper trading system falls apart - gold and silver will be supressed. Trade accordingly.willydoghttps://www.blogger.com/profile/16716849781430555079noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-74586396937977027252012-02-22T16:59:54.659-08:002012-02-22T16:59:54.659-08:00I shorted gold at 1777 with a stop at 1785. I'...I shorted gold at 1777 with a stop at 1785. I'm hoping it comes back to 1764. That's why i asked. If the chances are greater than 50 percent that gold retreats to 1764 before it heads to 1785, then i think this is a good trade.dflyhttps://www.blogger.com/profile/10617196875708889118noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-54120780950714456782012-02-22T16:24:06.002-08:002012-02-22T16:24:06.002-08:00Making some money now,,,thinking I better sell so...Making some money now,,,thinking I better sell soon, because all the chickens are starting to squawk. It must mean a total beatdown is close. Hmm? What you say "god traitorzzz', appears a good selling time or are you guys going long. Can't say I blame you, loss of control can mean very dangerous times. How is the volume treating you now?<br />I say you cannot control the oil markets..better start getting those jets fired up soon. Good night Mr. Diamon.White Wolfhttps://www.blogger.com/profile/13965194184809848345noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-24855684045290165342012-02-22T16:18:44.374-08:002012-02-22T16:18:44.374-08:00Silver Timer - I think news came out near that tim...Silver Timer - I think news came out near that time frame that the Bank of England was going to increase the size of their target purchases on their QE program. That seemed to be the catalyst that took gold higher.Trader Danhttps://www.blogger.com/profile/05484363461047659198noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-65574773950043670962012-02-22T15:48:03.057-08:002012-02-22T15:48:03.057-08:00Thanks Dan, fair call.
btw, Liquiat Ahmed in Lord...Thanks Dan, fair call.<br /><br />btw, Liquiat Ahmed in Lords of Finance says JL was not broke (I think $5m in the family trust) but his demise was a poor example to set.Silver Timerhttps://www.blogger.com/profile/04384510197314818840noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-61896190650941494502012-02-22T15:42:58.567-08:002012-02-22T15:42:58.567-08:00On a more serious note Dan...the spot gold price s...On a more serious note Dan...the spot gold price started to spike after 2.00pm NY...I understand Comex Gold closes at 1.30pm, so which market was the spike on (Globex?) and why the 30 minute delay?<br /><br />I ask because I trade the London AM Fixing, sometimes the PM Fixing and I would like to understand the mechanics around this price move.<br /><br />Thank you.Silver Timerhttps://www.blogger.com/profile/04384510197314818840noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-518107882244064162012-02-22T15:12:19.350-08:002012-02-22T15:12:19.350-08:00Silver Timer:
To answer your question - every tra...Silver Timer:<br /><br />To answer your question - every trader has his or her own methodologies that they use once they find them to be successful. I personally use another way of analyzing markets, particularly gold, than the "angels". I also have not found Livermore's methodology to work in my personal trading and therefore do not pay attention to it. <br /><br />That is not to run it down - it is merely one trader's views who does not employ it and therefore does not find it consequential. Actual resistance and support zones that form on price charts as the result of actual price action are far more significant than numbers arrived at by various computational methods in my opinion.<br /><br />One last thing - anyone who somehow managed to lose all of the money he made in the markets and ended up taking his own life, as Livermore did, is not my idea of someone I look up to.Trader Danhttps://www.blogger.com/profile/05484363461047659198noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-91147281194416551252012-02-22T14:49:32.201-08:002012-02-22T14:49:32.201-08:00Umm...Dan?
OK, in the last few weeks and today...Umm...Dan?<br /><br />OK, in the last few weeks and today's price action maybe not, but are you saying you don't pay attention to JS's Golden Angels?<br /><br />After all, it is Jesse Livermore's Square Of The Numbers passed down to us and above $1,764 gold is due to go exponential. The square root of $1,764 just happens to be...(paging Douglas Adams!)...42.<br /><br />Just asking.Silver Timerhttps://www.blogger.com/profile/04384510197314818840noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-20170433436326444212012-02-22T12:39:32.071-08:002012-02-22T12:39:32.071-08:00Whoops, what is a $1 bill to anyone, I must have m...Whoops, what is a $1 bill to anyone, I must have made a George Washington mistake.....haahhhahhhhhaWhite Wolfhttps://www.blogger.com/profile/13965194184809848345noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-12801026699393924422012-02-22T12:36:12.837-08:002012-02-22T12:36:12.837-08:00Got Guns anyone??Got Guns anyone??White Wolfhttps://www.blogger.com/profile/13965194184809848345noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-5191732401982894262012-02-22T12:35:05.647-08:002012-02-22T12:35:05.647-08:00I have a real weird intuition about things...$1776...I have a real weird intuition about things...$1776...is a God given American number. It is exactly $13 off (of Jims $1764) number. Unlucky $13..but for which side. If I am incorrect God backed a very different nation in the year of 1776. Let's see what happens. I am hoping for the 18 handle myself. Oil...well it is almost a given with our new Muslim king.White Wolfhttps://www.blogger.com/profile/13965194184809848345noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-48690345216878458762012-02-22T12:13:48.065-08:002012-02-22T12:13:48.065-08:00And the "reason" for it MSM says MINUTES...And the "reason" for it MSM says MINUTES FROM THE BANK OF ENGLAND. If you look at a gold/GBP it took out the resistance. So the London cartel boys have their work cut out for them tomorrow. <br />"Should I stay or should I go?3Tomhttps://www.blogger.com/profile/14701125794767347203noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-79204284553959232192012-02-22T12:02:42.925-08:002012-02-22T12:02:42.925-08:00dfly - $1764 has no significance. The key was $175...dfly - $1764 has no significance. The key was $1750 followed by current resistance at $1780.Trader Danhttps://www.blogger.com/profile/05484363461047659198noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-12173893505067441242012-02-22T12:00:04.826-08:002012-02-22T12:00:04.826-08:00passed 1764 tooo fast to do that.
just my take is...passed 1764 tooo fast to do that.<br /><br />just my take is all.boatmanhttps://www.blogger.com/profile/12951618145166698522noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-70210171264650009322012-02-22T11:51:52.025-08:002012-02-22T11:51:52.025-08:00We blew passed jim sinclair's 1764 angel. wil...We blew passed jim sinclair's 1764 angel. will we drift back?dflyhttps://www.blogger.com/profile/10617196875708889118noreply@blogger.com