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Long Term ~ Neutral - need a monthly close above 1800 to confirm the bull market final phase underway
Medium Term ~ Bearish - Need a close above 1402-1460 to neutralize.
Intermediate Term ~ Bearish –Need close above 1357 for bullish.
Short Term ~ Bearish ~ takes a close above 1322 for bullish
Support and Resistance
Initial Resistance 1280-1291 and 2nd tier 1302-1309
Initial Support 1256-1267 and 2nd tier 1232-1245
The last update listed resistance at 1299-1309 and the high was 1295.
Support was listed at 1263-1273 and the low was 1260
CME GROUP NEWS
Gold Pivot points
R1 and R2 represent 1st and 2nd standard deviations from the pivots for resistance and the S1 and S2 represent 1st and 2nd standard deviations from the pivots for support.
Gold Short Term
What's Next?
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Long Term ~ Neutral - need a monthly close above 1800 to confirm the bull market final phase underway
Medium Term ~ Bearish - Need a close above 1402-1460 to neutralize.
Intermediate Term ~ Bearish –Need close above 1357 for bullish.
Short Term ~ Bearish ~ takes a close above 1322 for bullish
Support and Resistance
Initial Resistance 1280-1291 and 2nd tier 1302-1309
Initial Support 1256-1267 and 2nd tier 1232-1245
The last update listed resistance at 1299-1309 and the high was 1295.
Support was listed at 1263-1273 and the low was 1260
CME GROUP NEWS
The market was caught on a week ending liquidation binge today that
was clearly exaggerated by technical stop loss selling, a decline in
safe haven interest and perhaps even because of periodic strength in the
Dollar. With a temporary mechanical halt in gold trading Friday,
because of volatility safety type devices, the downside action in gold
created enough headlines to at least partially signal capitulation by
the bull camp. However, it is also possible that some funds and or
larger spec positions were simply forced to race for the exits today as
the market fell through a series of key chart support levels.
R1 and R2 represent 1st and 2nd standard deviations from the pivots for resistance and the S1 and S2 represent 1st and 2nd standard deviations from the pivots for support.
Gold Short Term
Our last update said that gold weakness was suggestive of a test of
the 1260-1273 area with the potential for more. The low was 1259.60 and
the close was 1272.60 on Access trading. You can’t get much closer than
that.
Gold’s sell off last week reached the lower purple parallel line
exactly when we hit 1260 last Friday. Ironically, we have YET to close
below 1270 (which would be a lower close than the August low).
Any close below 1270 targets the 1220-1225 area or the 1165-1175 area.
Odds favor a cycle low during October 15th – 21st with the 18th as the
ideal day. As long as we’re below 1322, the trend remains down.
What's Next?
The trend is down and the scenario of another drop into the next blue
cycle into October 18th (plus or minus 72 hours) is the odds favored at
the moment. If that develops the price drop could be steep but it could
also produce a very important low point for gold. Until we get above
1309 its best to remain extremely cautious about any upside activity and
favor lower. We discussed the flush out line giving way and targeting
1263-1273. The low was 1260 and the close 1272. Monday could consolidate
after such a big weekly drop, but the overall trend is still down in
gold. In either event, resistance should be strong in the 1285-1295
area.
Bottom Line
The current set up does allow for gold to correct substantially so
it’s best to remain cautious. The fundamental for gold to rise because
of a major debt crisis that is coming globally is going to play out. But
a liquidity crisis that we have warned about for quite a while is still
in the making and we have always stated that if that’s the case, then
gold must first fall before the big move. We’re getting closer and
closer to that end, but it still hasn't played out. It’s possible that
October will provide an important low but we’ll have to see the action
this week. IF we crash hard then the potential for an important low will
be in play.
and start earning commissions from all
the trading activity of the clients you referred to XM.
The Advantages of Promoting XM:
The Highest Conversion in the Industry
Ability to transfer funds between IB account from/to client account
No limits on how much you can earn
No limits on how much you get paid every month
Fastest and most reliable IB payouts
Transparent reporting and detailed statistics
Account Managers in more than 18 languages
Leverage up to 1:888 for your Clients
Low Minimum Deposit for your Clients
Multiple Deposit Options for your Clients
Monthly Timely Payments
Tailor-Made Solutions
No Fees to Start
Multiple Platforms to Promote
Flexible Commission Rates
Unlimited Banners and Artwork
Nonstop Promotions for your Clients
The Partner Promotion for 2013 Offers
| Clients | Commission on Currencies | Commission on Gold | Second Tier (Sub Ib's) |
|---|---|---|---|
| 3-10 | $7 | $25 | 10% |
| 11-30 | $8 | $25 | 10% |
| 31+ | $10 | $25 | 10% |
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You will be paid $10 per standard lot of Gold traded and
all payments will be made by the 25th of each month.
In order for your payment to be processed each month, please send me an email requesting payment and stating the amount of lots you have traded and your MT4 account number between the 20th and 24th of the month.
thelordoftruth@gmail.com
1. Open your account HERE
2. Send me your MT4 trading account number and email address
3. Send me your Paypal or Moneybookers account number
If you do not have a Paypal or Moneybookers account,
please click on one of the links below to open your free account today.
Moneybookers
Paypal
You will be paid $10 per standard lot of Gold traded and
all payments will be made by the 25th of each month.
thelordoftruth@gmail.com
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YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
