Wazua
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Many gold longs have been severely washed out.  $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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The gold price crash is further evidence of market rigging http://blogs.telegraph.c...ence-of-market-rigging/
GOD BLESS YOUR LIFE
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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There was market rumour that Cyprus would sell its gold reserves for bailout and the gold market went on a freefall.
If you own the fiat money system why would you let an alternative currency e.g. gold, silver, bitcoin etc overrun your system? Until people handcuff the bastard banksters the cycle will stay put.
The largest sale occurred on Aug 2011 as gold printed all time highs. Since then it's been heading south. The last 2 days of record sledge hammer price crash has induced a lot of technical damaged. My opinion is the price will fall much further since capitulation hasn't yet happened even with the record $, € and yen printing at the moment?!
Downside targets still remain 1200, 1180 & 1080. I'll always be a gold bull, but the reality now is not to stand infront of this derailed train. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Commodos look like they want to dip again. If on the long side caution. Possibility of testing the Monday lows and retracing yesterday's entire bounce is highly likely esp on gold and silver. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 3/23/2011 Posts: 304
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@hisah thanks for the advice on EURCHF, SNB have defended that 1.2 floor EXTREMELY well and now with the drop in gold there hasnt been any effect on the pair especially with EURAUD and EURGBP being very bullish. Your exit at 0.8529 was perfectly timed seeing as how it now spiked towards 0.8635 :D Btw here is GS's reasoning behind why they gave their forecasts for USDJPY which i had posted previously: http://www.efxnews.com/s...xt-usdjpy-goldman-sachs
You dont have to be great to START but you have to start to be GREAT!!!!!!!!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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alutacontinua wrote:@hisah thanks for the advice on EURCHF, SNB have defended that 1.2 floor EXTREMELY well and now with the drop in gold there hasnt been any effect on the pair especially with EURAUD and EURGBP being very bullish. Your exit at 0.8529 was perfectly timed seeing as how it now spiked towards 0.8635 :D Btw here is GS's reasoning behind why they gave their forecasts for USDJPY which i had posted previously: http://www.efxnews.com/s...xt-usdjpy-goldman-sachs
And bang EURGBP is hammered after topping @0.8630 as I had expected it to ramp up to test the Cyprus panic gap down zone. From here I expect it to bump up one more time then head below 0.85. Still bearish on the weekly.
As for GS recos I don't bother with their shitty reco advice. Not worth my time this bankster.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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GBP crosses were stagnant for a while, but now seem ready to move after UK retail sales report. GBPUSD needs to break below 1.5220 to confirm selling pressure. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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FX is too quiet today meaning US session is the only market left to break the stalemate. Large moves looming... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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hisah wrote:FX is too quiet today meaning US session is the only market left to break the stalemate. Large moves looming... He he, u switched to being a day trader. Yap, its quite slow, Lets see how the US session will go and by extension, tomorrow the week close. “small step for man”
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Ceinz wrote:hisah wrote:FX is too quiet today meaning US session is the only market left to break the stalemate. Large moves looming... He he, u switched to being a day trader. Yap, its quite slow, Lets see how the US session will go and by extension, tomorrow the week close. If I see an opportunity I usually take a day trade, but that's not my style. Was just wondering why the muted action. But US session has come alive and I wanted to see how commodos would trade.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 3/23/2011 Posts: 304
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Extremely slow......had to go down to the 15min and 30min charts to look for signals. Took the pinbar off the 30min chart on EurUsd and now looking at a possible "fakey" setup on the 30min GbpUsd however 1.53 is proving to be strong resistance. You dont have to be great to START but you have to start to be GREAT!!!!!!!!
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Rank: Member Joined: 3/23/2011 Posts: 304
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Interesting take on Gold and how the downtrend began way before the latest cliff dive...... http://www.forexandcurre...of-the-gold-short-trade/You dont have to be great to START but you have to start to be GREAT!!!!!!!!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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alutacontinua wrote:@hisah thanks for the advice on EURCHF, SNB have defended that 1.2 floor EXTREMELY well and now with the drop in gold there hasnt been any effect on the pair especially with EURAUD and EURGBP being very bullish. Your exit at 0.8529 was perfectly timed seeing as how it now spiked towards 0.8635 :D Btw here is GS's reasoning behind why they gave their forecasts for USDJPY which i had posted previously: http://www.efxnews.com/s...xt-usdjpy-goldman-sachs
CHF getting sold vs EUR on interesting volume.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 3/23/2011 Posts: 304
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@Hisah i went long at the break of 1.2220 and my trailing stop got hit last week :(.Now we are back under 1.23. I was hoping the rumours of SNB raising the floor to 1.25 would have given an opportunity to add a few more lots as the spike in volume was showing an outflow of the "save haven". I am closely following this as one could look at it as a good opportunity to buy? http://www.efxnews.com/s...ng-floor-vs-nothing-citiYou dont have to be great to START but you have to start to be GREAT!!!!!!!!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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hisah wrote:kyt wrote:What war @hisah? N.Korea, Iran... Too much tension... This is not good. Oil price has ramped up hard last week after the unusual selloff in April. Someone clearly knew about this event.
http://rt.com/news/damas...-explosions-sunday-831/
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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61.8% fibo retrace after massive selloff is as high as this relief bounce goes. Next down leg coming up. The selling is far from done.  $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 3/10/2008 Posts: 301 Location: Abu Dhabi
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USDJPY 100 ceiling broken, and this could be the new floor / major support. Buying on dips is the game imho. Keeping long till 101.40/50
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Rank: Member Joined: 3/23/2011 Posts: 304
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@toni am def with you on this. Todays Europe open should def be interesting and am hoping there will be a retest of 100. On a side note Yesterdays volatility was crazy. Just reading a report that a huge market player placed a bid at 100.20 worth multiple billions on the interbank ECB system which resulted in the "rocket" from 99.94 to 100.60. I am just wondering how many people were stopped out on gbp,aud and nzd stop loss hunts. You dont have to be great to START but you have to start to be GREAT!!!!!!!!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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hisah wrote:61.8% fibo retrace after massive selloff is as high as this relief bounce goes. Next down leg coming up. The selling is far from done. Downside move coming. Caution.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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alutacontinua wrote:@toni am def with you on this. Todays Europe open should def be interesting and am hoping there will be a retest of 100. On a side note Yesterdays volatility was crazy. Just reading a report that a huge market player placed a bid at 100.20 worth multiple billions on the interbank ECB system which resulted in the "rocket" from 99.94 to 100.60. I am just wondering how many people were stopped out on gbp,aud and nzd stop loss hunts.
A retest of 100 will come in order to confirm support. No need to chase it.
CHF is still getting sold heavily. Gold will feel the pressure.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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