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I am! I'm already a few % green and ready to flip, sell, turn side or whatever. If we retest $1298 from here then I'll have to update some lines on my charts.
Gold IS poised to test $1928 again in the near future but the question now (at lest for me) is what's going to happen first, this week.
Prepared for the next $10 drop in gold?
Cryptos have a value like any fiat currency does its faith based.
underground it trades the same thats what makes it like any other currency except its global and can be moved without being noticed if done correctly or be regulated and be used publicly.
The beauti of crypto's is you dont need a bank or exchange its peer to peer no third party needed.
China couldn't do anything and Bitcoin lost 1/3 of its value in 2-3 days? You didn't answer my question what you're going to do with your Bitcoin when there's no shop, no bank and no exchange where you can turn it into something tangible. How will you even know how much is Bitcoin worth then?
Governments can kill it in 1 second. Just declare cryptocurrencies illegal. You can't buy anything with it, you can't withdraw your money because banks will reject any such operations and all bitcoin exchanges are gone, except for those in Somalia. What are you going to to then? Run to you neighbor with your 1s and 0s on a pendrive?
It gets even better if/when IMF issues its own cryptocurrency, maybe even based on Ethereum. "Our currency good and legal, other bad and illegal".
Back to gold: $1256 held so far, let's see what next. 2 FOMC members speaking today.
Gold on support. $1256 is very important and must hold for any bounce today.
Japan is on board 100k stores just started south Korea on board over 50k franchises, Russia China India on, and on its going to explode.
WE WILL SEE 20K PRICE NEXT YEAR FOR SURE. DOLLAR IS FAILING THEN WATCH GOLD AND SILVER RELEASE.
Nope, but I'd be happy if your share with me what you had in mind.
Sorry to destroy your narrative but cryptocurrencies are still insignificant in today's economy. They mean nothing and will crash instantly if governments wish so.
Current cryptourrency cap ~ $0.1T
Apple cap ~ $0.8T
Current gold cap ~ $7,5T
Current equity market cap ~ $65T
Nice, but a few years old, visualization:
http://money.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization/
It is a computer game both ways and not since yesterday. We just have to make sure we play along with the bots short term and along with central banks long term. Sad but true. Until it all breaks, that is.
I think that today's report sparked a short squeeze in USD that will last a few days at least. We'll have "hawkish FED" narrative until the next meeting or bad future jobs report/inflation. If the dollar keeps going up this month and gold down, we'll have a perfect entry before September disappointment with "no hike" decision. Hope you'll get your bounce soon!
You aim very low. I've already seen $1400 prediction a few days ago. We'll see but for now, I'll stick to the dark side.
Where's that ceiling, what is optimistic for gold here and in what time span?
Such a nice spike and DXY is STILL OVERSOLD ON A WEEKLY!
Well, it didn't take long to see my JDST green with a medium-sized spike in DXY. And this is just a beginning.
Well, that was quick...
I was thinking about selling it as I was virtually even at HOD. I trade with much smaller amounts than you do so I'm not that concerned with 5-10% losses. GL!
You've got your profit this week, let the bears earn some ^^. Today's session was a bit unusual. Record VIX low from yesterday was a warning that something is brewing. I'm wondering whether we'll see a flash crash like the one in August 2015. Arguably, a medium selloff in stocks would be good for gold and miners... and bad for me as I'm still holding.
DXY below its short-term trendline, so let's see how that plays tomorrow (yes, I still believe in my theory ;) ).
Maybe but it's still early in the day. For now, it's just a reaction to the sharp move yesterday.
DXY straight up, gold straight down. Just keep going...
Thanks ;) As I said I knew this was a risky trade. Holding leveraged miners ETFs into FOMC announcement is almost pure gamble. I placed my bet and I lost. Still, I'm ~7% red so it's not that bad. I was prepared for a loss, just didn't think it would happen so violently today. No worries, I'm not going to average JDST down looking as gold passes $1300. I'm also not going to panic and sell it here. We'll see tomorrow.
I'll end this day with the following chart, courtesy of Zerohedge:
http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/07/26/20170726_EOD2.jpg
Taking huge risk staying in JDST but that was my choice.
So here's my ~15% move... just the other way. Green to red in one day. If this continues I'll be forced to sell and lick my wounds. Congrats to longs.
DXY down initially. I'm jumping out when gold goes >$1270, staying otheriwse.
Not that it matters today...as charts mean squat when Uncle Janet opens her trap
Also, I'm not so sure how much correlation the dollar and Gold have had of late.
I'll give you two charts supporting my position in JDST.
DXY lost 10% in H1 and is a bit oversold on weekly. It may as well just puke here and go straight to 80-84 but I think it's more probable that we'll see a bounce before that. Maybe even today as a "sell the news" reaction.
Out of curiosity, I refreshed the old LT trendline in gold. Guess where gold bounced this week?
The fact that that this trendline has been broken two times already makes it a bit less dependable but you should at least keep it in mind. Maybe gold goes for a third attempt to break, this time successful? Who knows? Choose your side and watch carefully!
Since you're saying it wasn't an insult I believe you it wasn't. I'm sorry from my side and let's keep it civil here.
Yep, and a week ago it was "a small position in DUST" now it's full ;). No way to verify anyone's trades here so let's end this.
I believe you're a great trader just don't be arrogant and don't tell other people they're trading with "rose color glasses that can lead to a disaster" and you're the only one trading "unbiased".
As I said, no conviction in miners. Even you prove my point, given your early enthusiasm today ;).
Pretty boring day anyway, gold at $1250 is pretty inconclusive. I'm a few % green in JDST and still holding. DUST would be an awful choice: -3% today vs +1.65% JDST.
Love my rose colored glasses!
Careful...rose colored glasses based on the way you are trading can lead to a disaster.
Just today alone your theory is totally disproved.
Gold is down near $1250 and yet GDX/NUGT are flying based solely on NEM's earnings.
I disagree and I think it's all about gold now, just not 1:1 with miners. If it goes a few bucks below $1250 my JDST shares are going to look sweeeeeeet. There's no conviction that gold will fly soon. Maybe the Fed can change it tomorrow?
Without new highs in gold, I'm not even thinking about buying NUGT.
I don't think we'll see euphory in miners until gold gets near $1300. Conversely, we'll see a lot of selling on any sign of weakness in gold. That's why I'm accumulating JDST since last week and that's my plan until I'm proven wrong.
What a great start of the week! All of my stocks are green, including JDST. It's high time for USD to bounce and for the last dip in gold before $1300. I hope Janet won't ruin it for me on Wednesday. Also, on Wednesday, Trump Jr. is going to testify, so be sure to be at your computers that day!
https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
FOMC meeting next week. Maybe we'll get some more volatility, either up or down.
Ehh, remember the old days when we had 20% swings every week? I miss those.