Tuesday, November 26, 2013
Monday, November 25, 2013
Gold trading update 25 November 2013
Hi Everyone
Not a bad trading day with the trade described last night playing out early this morning resulting in a nice profit.
The 4H signals have also reset and the next short trade is lining up. I would suggest that you short anywhere below $1235 and take profit around $1229.
As always the best is to subscribe to my email alerts on my blog to get notified when I trade.
Good luck
Chris
Not a bad trading day with the trade described last night playing out early this morning resulting in a nice profit.
The 4H signals have also reset and the next short trade is lining up. I would suggest that you short anywhere below $1235 and take profit around $1229.
As always the best is to subscribe to my email alerts on my blog to get notified when I trade.
Good luck
Chris
Sunday, November 24, 2013
Gold trading update 24 November 2013
Hi Everyone.
On the 4H timeframe we saw a reset in the signals late on Friday, you can therefor trade short on gold below $1239 and take profit around the $1229 level
On the daily gold signals I would suggest that you hold on to see the trending direction.
Have a great week
Chris
On the 4H timeframe we saw a reset in the signals late on Friday, you can therefor trade short on gold below $1239 and take profit around the $1229 level
On the daily gold signals I would suggest that you hold on to see the trending direction.
Have a great week
Chris
Thursday, November 21, 2013
Trading update
Hi everyone
The strategy for Friday should be to wait until gold trades above 1250 and then go short if the price drops below 1235.
I would strongly recommend that you close all positions before the market closes for the week.
All the best
Chris
Wednesday, November 20, 2013
Gold trading update 20 November 2013
Hi everyone
I am quite proud to report that my call on both the 4H and Day trading levels were spot on. Hopefully some of you made some money. I am currently only trading the 4H time-frames but managed to go short at $1271.56 and took profits at $1260.41.
What makes this game eve more magical is that this all happened while I was at work - bot trading!
On Monday I suggested a short trade on the daily gold signals at $1267 and close the position at $1245 ( a level breached in the last 30 minutes). If you are still in the market I would suggest that you take profits and get a good nights rest.
Hopefully the 4H signals resets during the course of tomorrow and we still get another short trade in before the markets close on Friday night. I will post an update on this tomorrow night. ( Or you can follow my live updates by subscribing to my mail alerts on this blog)
All the best
Chris
I am quite proud to report that my call on both the 4H and Day trading levels were spot on. Hopefully some of you made some money. I am currently only trading the 4H time-frames but managed to go short at $1271.56 and took profits at $1260.41.
What makes this game eve more magical is that this all happened while I was at work - bot trading!
On Monday I suggested a short trade on the daily gold signals at $1267 and close the position at $1245 ( a level breached in the last 30 minutes). If you are still in the market I would suggest that you take profits and get a good nights rest.
Hopefully the 4H signals resets during the course of tomorrow and we still get another short trade in before the markets close on Friday night. I will post an update on this tomorrow night. ( Or you can follow my live updates by subscribing to my mail alerts on this blog)
All the best
Chris
Tuesday, November 19, 2013
Gold trading update 19 November 2013
Hi everyone
Today saw a bit of an improvement in the gold price, although it did not get to the 1280 level mentioned yesterday it came close at 1279.
Bottom line however is that the graphs on 4H are loaded for a short trade with the current trigger being around the 1269 level. This target price should increase overnight to around 1270 - 1272 being the level for a short trade entry during the day tomorrow.
Keep an eye out for trades from this blog during the course on tomorrow. Profit should be watched closely as there might be a reversal to long trades in the next couple of days.
From the perspective on daily signals as per my post of last night you would have entered into a short trade. My suggestion is that you place a stoploss at around 1294 and take profits at 1245.
All the best
Chris
Today saw a bit of an improvement in the gold price, although it did not get to the 1280 level mentioned yesterday it came close at 1279.
Bottom line however is that the graphs on 4H are loaded for a short trade with the current trigger being around the 1269 level. This target price should increase overnight to around 1270 - 1272 being the level for a short trade entry during the day tomorrow.
Keep an eye out for trades from this blog during the course on tomorrow. Profit should be watched closely as there might be a reversal to long trades in the next couple of days.
From the perspective on daily signals as per my post of last night you would have entered into a short trade. My suggestion is that you place a stoploss at around 1294 and take profits at 1245.
All the best
Chris
Warning from the OECD
Interesting article from the newswires, I cannot agree more!
PARIS--The uncertain future of U.S. fiscal and central bank policies poses a growing risk to a global economic recovery that has already been weakened by a slowdown in growth in many developing economies, the Organization for Economic Co-operation and Development said Tuesday.
In its twice-yearly Economic Outlook report, the Paris-based research body said the U.S. debt ceiling should be abolished, and replaced by "a credible long-term budgetary consolidation plan with solid political support."
The report marks a significant shift in the OECD's focus of concern, which in recent years has been centered on the euro zone's attempts to tackle its fiscal and banking crises. While the OECD remains worried about the euro zone's frailties, the most immediate threats to the global recovery now appear to come from the U.S.
The OECD said a series of events has undermined confidence and stability in recent months, including the "surprisingly strong" reaction by investors to the possibility that the Federal Reserve will soon start to reduce its asset-purchase program. That led to related concerns about developing economies, and was followed by a "potentially catastrophic" crisis precipitated by negotiations over the U.S. debt ceiling.
"These events underline the prominence of negative scenarios and risks that the recovery could again be derailed," OECD chief economist Pier Carlo Padoan said.
The heightened risks from the U.S. are in addition to continued ones from a fragile euro-zone banking sector and Japan's fiscal situation, the OECD said.
The warnings came as the OECD forecast only a modest economic recovery through 2015. The combined economies of the 34 members of the OECD will grow 1.2% this year, before accelerating to 2.3% in 2014 and 2.7% in 2015, according to its forecasts.
Growth rates between major economies will continue to differ markedly with the euro zone contracting 0.4% this year before growing 1% next year, while the U.S. will grow 1.7% and 2.9% over the same periods.
The twice-yearly economic outlook is slightly weaker than in May, mainly because of an expected slowdown in some large developing economies that partly reflects their vulnerability to capital outflows when the Federal Reserve does eventually start to reduce its stimulus program.
"The turmoil following the tapering discussions in mid-year has revealed how sensitive some emerging market economies are to U.S. monetary policy," the OECD said.
The OECD cut its 2014 growth forecast for Brazil to 2.2% from 3.5% in May, its forecast for India to 4.7% from 6.7%, and its forecast for Indonesia to 5.6% from 6.2%. It cut its growth forecast for China more modestly to 8.2% from 8.4%, still leaving it above that of many other economies.
The research body said the weaker growth outlook for some developing economies was more deeply rooted in "long-standing structural impediments that had been hidden by abundant capital inflows." Solutions to those problems vary from country to country, but generally developing economies need more formal and efficient labor markets and stronger, market-based financial systems, Mr. Padoan said.
Largely as a result of its more downbeat assessment of the outlook for large developing economies, the OECD cut its forecast for global gross domestic product growth by around 0.5 percentage points this year and next to 2.7% and 3.6%, respectively.
The OECD said that even if it creates turbulence and damages other economies, the Federal Reserve should nonetheless wind down its asset purchases next year if unemployment continues to fall and inflation strengthens, and start to raise its benchmark interest rate in 2015.
"Over the medium-to-long term, the costs of excessive liquidity are rising. Tapering has to begin at some stage," Mr. Padoan said.
The OECD also stressed the dangers arising from the U.S. debt ceiling. If the ceiling became binding--a fate narrowly avoided in October--the U.S. economy would be catapulted into a deep recession, according to the think tank's analysis.
Even if such a scenario were to be avoided, the ongoing negotiations will still be damaging.
"The continuous affair of discussing debt every few months is simply detrimental to confidence levels and therefore growth," Mr. Padoan said.
In the euro zone, weak bank balance sheets and fragile public finances could still unsettle financial markets, the OECD said. The euro-zone swiftly must correct any capital shortfalls it finds in its banks, as a banking sector in disrepair could easily get out of control, Mr. Padoan said.
The OECD also acknowledged that there is an increased risk of deflation in the euro-zone and welcomed the recent cut in the European Central Bank's main refinancing rate to 0.25%.
"If the deflationary risks increase, the ECB should be prepared to do more, including having negative deposit rates and buying more assets on the secondary market," Mr. Padoan said.
The OECD also added its voice to recent criticism of Germany's role in helping to rebalance the euro zone's economy, noting that while southern European nation have trimmed their trade gaps, "much less adjustment, if any, is taking place in surplus countries."
"More durable and symmetric adjustment is needed through reforms to labor and product markets, including liberalization of services in Germany that would strengthen and rebalance demand," Mr. Padoan said.
The OECD said that in Japan, "strong" efforts to cut the budget deficit are needed to slow the pace at which the government's debt is rising.
"In view of the extraordinarily high public debt ratio, a more detailed and credible medium-term consolidation plan is required to maintain confidence in government finances," the OECD said.
Write to William Horobin at william.horobin@wsj.com and Paul Hannon at paul.hannon@wsj.com
(END) Dow Jones Newswires
November 19, 2013 05:25 ET (10:25 GMT)
PARIS--The uncertain future of U.S. fiscal and central bank policies poses a growing risk to a global economic recovery that has already been weakened by a slowdown in growth in many developing economies, the Organization for Economic Co-operation and Development said Tuesday.
In its twice-yearly Economic Outlook report, the Paris-based research body said the U.S. debt ceiling should be abolished, and replaced by "a credible long-term budgetary consolidation plan with solid political support."
The report marks a significant shift in the OECD's focus of concern, which in recent years has been centered on the euro zone's attempts to tackle its fiscal and banking crises. While the OECD remains worried about the euro zone's frailties, the most immediate threats to the global recovery now appear to come from the U.S.
The OECD said a series of events has undermined confidence and stability in recent months, including the "surprisingly strong" reaction by investors to the possibility that the Federal Reserve will soon start to reduce its asset-purchase program. That led to related concerns about developing economies, and was followed by a "potentially catastrophic" crisis precipitated by negotiations over the U.S. debt ceiling.
"These events underline the prominence of negative scenarios and risks that the recovery could again be derailed," OECD chief economist Pier Carlo Padoan said.
The heightened risks from the U.S. are in addition to continued ones from a fragile euro-zone banking sector and Japan's fiscal situation, the OECD said.
The warnings came as the OECD forecast only a modest economic recovery through 2015. The combined economies of the 34 members of the OECD will grow 1.2% this year, before accelerating to 2.3% in 2014 and 2.7% in 2015, according to its forecasts.
Growth rates between major economies will continue to differ markedly with the euro zone contracting 0.4% this year before growing 1% next year, while the U.S. will grow 1.7% and 2.9% over the same periods.
The twice-yearly economic outlook is slightly weaker than in May, mainly because of an expected slowdown in some large developing economies that partly reflects their vulnerability to capital outflows when the Federal Reserve does eventually start to reduce its stimulus program.
"The turmoil following the tapering discussions in mid-year has revealed how sensitive some emerging market economies are to U.S. monetary policy," the OECD said.
The OECD cut its 2014 growth forecast for Brazil to 2.2% from 3.5% in May, its forecast for India to 4.7% from 6.7%, and its forecast for Indonesia to 5.6% from 6.2%. It cut its growth forecast for China more modestly to 8.2% from 8.4%, still leaving it above that of many other economies.
The research body said the weaker growth outlook for some developing economies was more deeply rooted in "long-standing structural impediments that had been hidden by abundant capital inflows." Solutions to those problems vary from country to country, but generally developing economies need more formal and efficient labor markets and stronger, market-based financial systems, Mr. Padoan said.
Largely as a result of its more downbeat assessment of the outlook for large developing economies, the OECD cut its forecast for global gross domestic product growth by around 0.5 percentage points this year and next to 2.7% and 3.6%, respectively.
The OECD said that even if it creates turbulence and damages other economies, the Federal Reserve should nonetheless wind down its asset purchases next year if unemployment continues to fall and inflation strengthens, and start to raise its benchmark interest rate in 2015.
"Over the medium-to-long term, the costs of excessive liquidity are rising. Tapering has to begin at some stage," Mr. Padoan said.
The OECD also stressed the dangers arising from the U.S. debt ceiling. If the ceiling became binding--a fate narrowly avoided in October--the U.S. economy would be catapulted into a deep recession, according to the think tank's analysis.
Even if such a scenario were to be avoided, the ongoing negotiations will still be damaging.
"The continuous affair of discussing debt every few months is simply detrimental to confidence levels and therefore growth," Mr. Padoan said.
In the euro zone, weak bank balance sheets and fragile public finances could still unsettle financial markets, the OECD said. The euro-zone swiftly must correct any capital shortfalls it finds in its banks, as a banking sector in disrepair could easily get out of control, Mr. Padoan said.
The OECD also acknowledged that there is an increased risk of deflation in the euro-zone and welcomed the recent cut in the European Central Bank's main refinancing rate to 0.25%.
"If the deflationary risks increase, the ECB should be prepared to do more, including having negative deposit rates and buying more assets on the secondary market," Mr. Padoan said.
The OECD also added its voice to recent criticism of Germany's role in helping to rebalance the euro zone's economy, noting that while southern European nation have trimmed their trade gaps, "much less adjustment, if any, is taking place in surplus countries."
"More durable and symmetric adjustment is needed through reforms to labor and product markets, including liberalization of services in Germany that would strengthen and rebalance demand," Mr. Padoan said.
The OECD said that in Japan, "strong" efforts to cut the budget deficit are needed to slow the pace at which the government's debt is rising.
"In view of the extraordinarily high public debt ratio, a more detailed and credible medium-term consolidation plan is required to maintain confidence in government finances," the OECD said.
Write to William Horobin at william.horobin@wsj.com and Paul Hannon at paul.hannon@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 19, 2013 05:25 ET (10:25 GMT)
Monday, November 18, 2013
Trending comments.
We have experienced a stall in the current downtrend of the 4H Gold price.
My expectation is that the price of gold will rise to around the 1280 level in the next 24 hours. Confirmation of the 4H downtrend will occur if the price then drops below 1270.
The 4H trend will turn bullish should the 1295 price be crossed.
The daily signals confirms that the downtrend is still well on it's way, trading on daily signals should be short if 1267 is breached.
Good luck
Chris
My expectation is that the price of gold will rise to around the 1280 level in the next 24 hours. Confirmation of the 4H downtrend will occur if the price then drops below 1270.
The 4H trend will turn bullish should the 1295 price be crossed.
The daily signals confirms that the downtrend is still well on it's way, trading on daily signals should be short if 1267 is breached.
Good luck
Chris
Thursday, November 14, 2013
Tuesday, November 12, 2013
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Thursday, November 7, 2013
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