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33 Posts Total by "gtnew":
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GTNew
(Arizona, United States)
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GTNew
Arizona, United States
Posts: 33
14 years ago
Nov 21, 2009 1:22
In Thread: Where do you see Gold by year-end?
Gold made a new daily and weekly closing high today, Friday, 11/20/09.
GTNew
Arizona, United States
Posts: 33
14 years ago
Nov 20, 2009 16:45
In Thread: Where do you see Gold by year-end?
It's always advisable to have an exit strategy thought out and in place at the time you place the trade. If it does this, great, if not I'm out of it.
GTNew
Arizona, United States
Posts: 33
14 years ago
Nov 18, 2009 21:34
In Thread: Where do you see Gold by year-end?
Guys,

Also GLD gapped up Monday, creating a possible breakaway gap if it remains unfilled. It could also suggest we are in wave 3 of the advance which is often the wave that extends. I would change my tune quickly, though, if that gap is filled.
GTNew
Arizona, United States
Posts: 33
14 years ago
Nov 18, 2009 21:31
In Thread: Where do you see Gold by year-end?
LionK,

Here's one man's view Gold and Silver:
http://www.ashraflaidi.com/forex-blogs/1250/
GTNew
Arizona, United States
Posts: 33
14 years ago
Nov 18, 2009 20:42
In Thread: Where do you see Gold by year-end?
LionK,

I'm sorry. I don't really follow Silver, only Gold and am still holding long, although a much smaller position now. I looked at the chart and silver trades a different pattern from Gold. It has not yet exceeded its March high. But both trends are still up. I used to try and pick tops in markets. I was just not good at it and always lost money. Worse, I would add to losers. I learned the hard way. I don't like driving the wrong way down a one-way street.
GTNew
Arizona, United States
Posts: 33
14 years ago
Nov 18, 2009 2:41
In Thread: Where do you see Gold by year-end?
Spec,

1200? I thought 1122 was it, then we would plunge into a bear market. I'm confused now.
GTNew
Arizona, United States
Posts: 33
14 years ago
Nov 17, 2009 21:17
In Thread: GBP Trade Index 18-Year Chart
Every blog has a "Troll." Hopefully, we can soon end the insults and religious references and return to the subject at hand. Every trader/investor I know makes mistakes, bad calls, and loses money occasionally. I listen to many people including Ashraf, because he is one of the best. However you have to know your own trading style. His time frame may be longer than yours. His capital may exceed yours. I sometimes find myself on the opposite side of his trade because I am trading a short timeframe. Sometimes I jump right on his recommendations. It depends. I have only myself to blame for poor trading decisions. Ashraf provides a "framework" based on his intermarket approach. He very often offers up target zones which work quite well, at least they have for me on many occasions. But you, as a trader, have to figure out where to enter a trade and when to pull the trigger, and then be willing to take responsibility for your decision. If you blindly follow anyone's recommendation, you are being foolish, in my humble opinion.
GTNew
Arizona, United States
Posts: 33
14 years ago
Nov 17, 2009 20:38
In Thread: Where do you see Gold by year-end?
On the $GLD chart, you'll see we are at an important resistance. I'm using a 13wk mav and I have Bollinger Bands based off it, 1,2,3,4 standard deviations. The gray line is 1 std deviation. Notice that since September it has contained all the corrections. This week it is at 104.75. We could definitely have a correction or go sideways for awhile. Or we could break to the upside on some news event. I'll buy the correction as long as we don't trade below 100.65, the last swing low.
GTNew
Arizona , United States
Posted Anonymously
14 years ago
Nov 17, 2009 20:12
In Thread: Where do you see Gold by year-end?
Here's my updated Weekly $GLD chart. http://twitpic.com/pvg0x
GTNew
Arizona, United States
Posts: 33
14 years ago
Nov 16, 2009 15:37
In Thread: Where do you see Gold by year-end?
I like EW on 5min and hourly charts, provided the pattern is clear. But Fib ext targets off swings provide the most accurate buy and sell points for me.

$SPX - 1133 looking more doable now. It's getting pretty late in the year for a stock selloff.

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