Pages

Thursday, December 12, 2013

Gold Trend Dec 12/2013

Follow The XM Bull
http://clicks.pipaffiliates.com/afs/come.php?id=91&cid=2459&atype=1&ctgid=16
 Long Term ~ Neutral - need a monthly close above 1800 to confirm the bull market final phase underway
Medium Term ~ Bearish - Need a close above 1334-1387 to neutralize.
Intermediate Term ~ Bearish – neutral on weekly close above 1272 -resistance 1305-1322
Short Term ~ Bullish– support 1222-1230. Short term cycles favor higher into Dec18th (plus or minus 72 hours) A CLOSE BELOW 1222-1230 PUTS SHORT TERM TREND BACK DOWN.
Support and Resistance
Initial Resistance 1259-1272 and 2nd tier 1280-1284 (1272 ideal weekly resistance)
Initial Support 1244-1250 and 2nd tier 1230-1237

The last update listed resistance at 1266-1276 and the high was 1263.
Support was listed at 1245-1255 and the low was 1251.
CME GROUP
Gold spent most of the trading session below the prior closing level and in what seemed to be a corrective track from the gains seen earlier in the week. A further slide in the dollar should have provided more lift to the gold market but some gold longs might have seen the slide in equities as a potentially undermining situation. A sharp drop in Indian gold imports last month was also seen to have soured the tone of the market early in the session.
The rally so far this week has not had the internals.
Gold Short Term
Mid week Wednesday has pulled back and to some extent that fits the bill.  I am concerned at how long gold is hugging the purple line.  It is support but for the pattern to remain bullish it usually ends the downtrend on Thursday so I’m hoping that’s what we’re going to see.  We had overseas and NY test the 1251-1252 area on the downside and 1260-1263 on the upside.
The place to now watch is;
The purple channel line is still at center stage and the way price is pulling back right on the line. My concern is if we start dropping below 1244-1247 the slope could get more slippery for gold and a pullback towards the green 200 hour moving average at 1236 or even the blue line at 1230. The deeper we go under the breakout point near 1247 the more chance of price giving way.  If there is gusto in this cycle the 1244-1247 area should normally provide support. While below 1244 would not necessarily mean the end of the uptrend it’s where the strength of the upside starts to come in question.
A close below the blue line near 1230 would not be good and a close below 1222 would render it a dud.  The 1st target of 1254-1262 was met and as far as the 2nd target of 1272, as long as we hold the purple channel line odds favor 1272-1275 to be hit.
Even if we hold the dotted support area the odds will favor it but not as much.
In summary, the uptrend is not broken but the chances of the 2nd target for this week at 1272 is a little diminished as we enter Thursday.  Support at 1244-1247 is important for gold to hold as far as showing its strength.  We have to get above 1263-1267 (the daily highs this week) to get to 1272.  First resistance above that would be near 1280.
GOLD HOURLY CHART
What's Next?
On a worst case scenario gold needs to hold 1222 (the weekly closing support number).  But even that would not be good and this could turn into just another bounce.  Anything under the green 200 hour moving average by more than a few bucks will not be good for the short term uptrend. 
HUI, NUGT, and GDX all peaked at the moving averages and turned down. That is not a good showing.  The only excuse would be to fill the gap.  GLD got above the moving averages and hit the channel line.  ITS pullback was to the moving averages.  It’s the only good showing.  So we have to be careful because the action this week could have been and does smell like a short cover rally.
The other side of the coin is we peaked on Wednesday and have filled the gap on the price charts.
In summary, the TARGETS on the upside of 1254-1262 has been met and the 2nd target of 1272 was within 5 bucks.  There’s still a chance to see 1272 but it will diminish if we trade below 1244-1247.
If we hold the purple channel line then 1272 is still possible for this week.   Anything below 1244-1247 drastically reduces the chance.  The short term trend is up but be aware that all great starts since Nov 1st have fizzled out quickly so be careful.
Bottom Line
The short term cycle waited until the last day of the window for a turn but pulled it off last Friday with a low and a close above 1222. Evidence of a major low forming is on the rise but we have work to do still.  At least it’s a positive change that is taking place that can lead to more.
 Become an XM IB or Affiliate Partner today 
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
ClientsCommission on CurrenciesCommission on GoldSecond Tier (Sub Ib's)
3-10$7$2510%
11-30$8$2510%
31+$10$2510%

Get paid to trade Gold in 3 easy steps.
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.
 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
The Gold Price & Trend Predictions blog made for gold traders to find good news and to provide the traders with daily price predictions and to learn how to trade the Forex Market for free.Just pure learning! It will be of great fun.You can judge by yourself the quality of information that I will be giving you in my blog.
Welcome to my blog where you can learn how to trade the Forex Market for free.The material is all created by myself and not copied from anywhere. There is a lot yet to come since there is a lot that you need to learn, and there is a lot that I need to share with you! So please just be patient – it will be worth it.You can judge by yourself the quality of information that I will be giving you . So just go now and start learning!
Below is a quick guide of how this website is structured, so you can find what you are looking for fast. Remember that I update the pages every day so either check back often.
In this section you will find quite a long article of what Forex is all about. If you are a beginner, this is a must read. It explains in detail what is required to start trading, what you should do and not, typical traps to avoid as a beginner and a lot of valuable information which you as a beginner must digest and learn prior opening any Forex account with real money.
In this section you will find your road map on how to become a real successful trader couple of months as from today.
In this section you will know the  3 major areas – Technical Analysis, Fundamental Analysis and Trading Physcology.
In this section you will find a gold mine of information about the technicalities of Forex. We will start from the very basics covering all the Forex jargon words which you will be hearing every day and we will be taking you up to the level required to finally learn to trade like a pro – technical analysis, also found in this section.
In this section you will see the tips that will help you stay away from crap forex products, which unfortunately the Forex market is invaded with.
This section has a very detailed article on how to avoid being scammed in this ruthless world of Forex. I will explain in detail six tips that you need to look for prior purchasing any products. Even though most of the time you may claim your money back,the time wasted is never returned. You should have used that time to learn how to trade! Read it!
 
YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS 
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. 
 King Regards