Follow The XM Bull
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 ~ NEUTRAL– support 1222-1230. A breakout failure on Thursday puts Short term cycles into Dec18th (plus or minus 72 hours) in big trouble and ready to reverse down A CLOSE BELOW 1222-1230 PUTS SHORT TERM TREND BACK DOWN---Thursday’s close barely held 1222 – if it doesn’t it could tank.
Support and Resistance
Initial Resistance 1230-1238 and 2nd tier 1247-1254 (1272 ideal weekly resistance)
Initial Support 1212-1222 and 2nd tier 1192-1203
The last update listed resistance at 1259-1272 and the high was 1257.
Support was listed at 1244-1250 and 2nd tier 1230-1237---but the price low was 1222----which is the key weekly number but was a 3rd tier support.
Gold Overview
4:23 AM 2,210 Feb contracts sold -$5.40
6:53 AM 1,872 Feb. contracts sold -$4.80
9:45 AM 2,431 Feb. contracts sold -$2.50
Become an XM IB or Affiliate Partner today
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 ~ NEUTRAL– support 1222-1230. A breakout failure on Thursday puts Short term cycles into Dec18th (plus or minus 72 hours) in big trouble and ready to reverse down A CLOSE BELOW 1222-1230 PUTS SHORT TERM TREND BACK DOWN---Thursday’s close barely held 1222 – if it doesn’t it could tank.
Support and Resistance
Initial Resistance 1230-1238 and 2nd tier 1247-1254 (1272 ideal weekly resistance)
Initial Support 1212-1222 and 2nd tier 1192-1203
The last update listed resistance at 1259-1272 and the high was 1257.
Support was listed at 1244-1250 and 2nd tier 1230-1237---but the price low was 1222----which is the key weekly number but was a 3rd tier support.
Gold Overview
Our
only take is the medium cycle is still pulling gold down but the budget
agreement in Washington may have given the market room to believe that
taper is coming in again.
The
idea that the Fed stimulus is even remotely inflationary is hard
to swallow when there is over $2 trillion in excess reserves at the Fed
because the banks are not lending
There has been reasoned talk out there about how short the market is and
that a big bank has cornered the market on the long side, readying to
annihilate the wrong way specs. We reported the same based on COT
reports.
As pointed out by James Mc of GATA yesterday, they had their chance
to do so following the big rally. Didn’t happen. As per the open
interest drops, some specs did exit their short positions. But,
certainly not the ones entrenched with The Gold Cartel’s orchestrated
short, precious metals war campaign.
The bottom line is the Commitment of Traders Report remains extremely
suspect according to GATA. The CME put out its warning it could not be
sure of the reliability of what was being reported to them for a REASON.
Why put out the report in the first place if you are not even sure it
is reliable? In what other industry would that be tolerated?
Furthermore, there have been reliable reports to GATA that JP Morgan
is trading using offshore accounts, which may be for themselves, or for
other accounts … say for the likes of an Exchange Stabilization Fund,
etc. This could easily show up as spec short positions and designed to
do just that. In addition, the OTC market is supposedly some 8 times
larger than what transpires on the Comex. We don’t know what is going on
there which might counter the visible Comex positions.
In other news
The Dollar Index turned its daily trend to down, further confirming the
recent failure to re-enter the uptrend channel that it lost in September
and failed to recapture from the end of October rally into Mid-November
and the pullback to 79.87 is final support before an outright bearish
downtrend gets elected. The latter half of October rally in gold for
two weeks is the only time gold and the dollar have not followed each
other since September. Both have been moving lower and the Euro
continues to rally to its upper levels of resistance as more
deflationary trends are being witnessed in Europe.
Gold Short Term
We discussed last night my concern for how long gold was hugging the
purple line on its pullback and that if we dropped below 1244-1247 that
the slope down could get slippery for gold. We suggested a close below
1230 would not be good and below 1222 would render the move a dud. Well
once we lost 1244 the market just kept dropping and dropping. By time
we got to NY the blue line at 1230 was support and then NY sent it to
1222 during the session. So we got all the price points right --- but
they were all the down ones to watch out for. Gold did close above 1222
but that was it.
The chart shows the breakout above 1254 on the 5th attempt on
Tuesday. Breakouts like this are almost always strong and bullish.
That ‘s why we got concerned last night when gold kept hugging the
purple channel line and pulling back for what was becoming too long for
such a chart pattern. Then when we hit 1244 the market tanked. The
failure of a breakout such as this is rare. Here’s the points that
really killed the market with instant sell orders;
4:20 AM 2,081 Feb. contracts sold -$4.204:23 AM 2,210 Feb contracts sold -$5.40
6:53 AM 1,872 Feb. contracts sold -$4.80
9:45 AM 2,431 Feb. contracts sold -$2.50
The place to now watch is the 1220-1222 area. If we can hold that
and push back above 1233-1244 then the trend higher into Dec 18th could
still play out but we think the odds are not high for that. If that
1222 area breaks down the next point of support is the blue line in the
1200-1206 area and then the purple channel lines 1180 and 1165. In
summary the short term uptrend has been neutralized and unless there is
an immediate turn here at 1220-1222 a break lower towards or under 1200
can develop either Friday or early next week. Friday has resistance at
1233-1243 and support (if 1220-1222) breaks will be at the blue line
first and then the purple lines. The trend is neutral as price is back
into a sideways channel. We have to be above 1254 to favor higher and we
must close below 1222 but more importantly below the blue line for a
bearish move under 1200 to develop.
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% |
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
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
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.
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
