There are rumours that the US debt auctions are just a ponzi scheme. The US print money to buy their own debt auction. A ponzi waiting to fall over. If this is true, then gold price have more room to go much higher.
One must wonder why the Indians and the Chinese continue to buy huge amounts of gold even at these record high level prices. They are not stupid. Everytime anyone with large quantity to sell, they will take all of it.
Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt – either directly by abolishing large slabs of it, or indirectly by inflating it away.
There are rumors that the US debt auctions are just a ponzi scheme. The US print money to buy their own debt auction. A ponzi waiting to fall over. If this is true, then gold price have more room to go much higher.
One must wonder why the Indians and the Chinese continue to buy huge amounts of gold even at these record high level prices. They are not stupid. Everytime anyone with large quantity to sell, they will take all of it.
this mid-1070's level needs to hold, plenty of white space below (possible levels shown). 5yr view its looking uncomfortably like a 3 peaks domed house, not a happy picture for the gold bulls.... (I have no position btw, just looking for a trade)
failed on the initial pitchfork & ran lower, with updated pivots we're now at the median line - may get some reaction here before regrouping and heading higher. or we could just punch on through. Favouring a reaction myself....
hi arco - cheers for that, supports my bias towards a short around this area. my main reservation is that daily oscillators suggest we could easily kick on higher
Went short at 1116, put a stop in at 1130 just above the first Kumo line, after looking at the blog. Have moved down to 1100 now so sitting on a small profit.
My Ichi Moku charts seem to come out a tad differently to yours Arco, I am using the stock standard, have you modified your times at all?
Also this is for metals trading, what is the standard trailing stop you place for gold/silver? $10/20 per ounce?
Went short at 1116, put a stop in at 1130 just above the first Kumo line, after looking at the blog. Have moved down to 1100 now so sitting on a small profit.
My Ichi Moku charts seem to come out a tad differently to yours Arco, I am using the stock standard, have you modified your times at all?
Also this is for metals trading, what is the standard trailing stop you place for gold/silver? $10/20 per ounce?
cheers
Hi Silverlight
I use default settings on MT4 - 9 26 52
My stops might not be everybodies cup of tea - I actually like to keep stops well out of the way and sometimes behind a swing point. But its also necessary to calculate risk/reward. If things get moving you can then use a KS trailing stop
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Originally Posted by Dr_Who
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