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Realities of Forex Investment
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hisah
#2251 Posted : Saturday, April 13, 2013 12:20:24 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977


Another blow to gold – Goldman Sachs slashes 2013, 2014 forecast - http://blogs.marketwatch...hes-2013-2014-forecast/

Perfect alignment for a contra play when Roubini and Le Squid are happily celebrating the slaughter.


The next support from here is 1430, which coincides with SMA 200 @1433 then 1380. For the time being volume is not building up as prices capitulate. Don't fight the trend. Let the selling be done.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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alutacontinua
#2252 Posted : Monday, April 15, 2013 8:58:12 AM
Rank: Member

Joined: 3/23/2011
Posts: 304
Gold continues to surge lower in Asia session add to that the poor Chinese economic data and no prisoners have been spared. AUD,NZD, CAD and now the Yen are all down. Europe session should be very interesting.

I am looking at the correlation between Gold and the Swiss Franc and looking at going long especially on EURCHF with a possible retest of 1.25 - 1.30. Only issue now is getting the timing right. Any thoughts on this trade????
You dont have to be great to START but you have to start to be GREAT!!!!!!!!
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hisah
#2253 Posted : Monday, April 15, 2013 12:19:54 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
@aluta - I don't think playing EURCHF is a sure bet. This cross has too much tweaking from SNB it's not worth the hustle.

And yes gold and silver continue getting smashed in London session. I can't believe the discounted prices with all the gigantic money printing everywhere. Unless the US Fed is about to abruptly stop QE and hike the rate this price collapse is so tempting for contra play as everyone runs for the hills.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#2254 Posted : Monday, April 15, 2013 12:24:30 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Closed short EURGBP. Short was placed @8595 and closed @8529. After 3 weeks of going nowhere (below .85 and .84) the only way is up again to challenge .86. I hope it can reach .8650 - .8700 for a better short entry based on the patterns of EURUSD which looks to slide past 1.2750 support in coming weeks.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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dave.kim
#2255 Posted : Monday, April 15, 2013 3:31:41 PM
Rank: Member

Joined: 6/25/2010
Posts: 176
Kichapo an my gold long from last year plus the negative swap!!d'oh! But I made a short on the range break out. TP 1300
Rule No.1 is never lose money. Rule No.2 is never forget rule number one
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  | | Edit by user: Monday, April 15, 2013 3:33 PM | Reason: Not specified
hisah
#2256 Posted : Monday, April 15, 2013 4:28:29 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
dave.kim wrote:
Kichapo an my gold long from last year plus the negative swap!!d'oh! But I made a short on the range break out. TP 1300

That is why I jumped out immediately 1620 failed to break after rebounding from 1555 support. It was likely that the retest of1555 would break down. Last Friday's break of 1530 was critical and opened 1480 minor support then down to 1430 the SMA 200. If these failed then 1380 was the last resort. Today the bounced was at 1385. The tech damage as critical support caved in is now telling. It's make or break. Break is down to 1080!?

I'm scoping the volume spread, but nothing so far for a contra play. However silver is getting interesting.

Other commodities like coffee look poised to collapse lower. Oil's mark down looks like an accumulation play. Is a war likely?! God forbid.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Monday, April 15, 2013 6:07 PM | Reason: Not specified
kyt
#2257 Posted : Monday, April 15, 2013 5:50:23 PM
Rank: Elder

Joined: 11/7/2007
Posts: 2,182
What war @hisah?
LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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hisah
#2258 Posted : Monday, April 15, 2013 5:53:29 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
kyt wrote:
What war @hisah?

N.Korea, Iran... Too much tension...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#2259 Posted : Monday, April 15, 2013 6:18:11 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Interesting this capture by Zerohedge...

$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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youcan'tstopusnow
#2260 Posted : Monday, April 15, 2013 9:15:22 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Gold stocks have been massacred today! Jeez!
GOD BLESS YOUR LIFE
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