Sunday, December 22, 2013

Gold Weekly Dec 23-27, 2013



http://clicks.pipaffiliates.com/afs/come.php?id=91&cid=2459&atype=1&ctgid=16
Monthly
Market slowly but stably moves lower here. There was no outstanding action on previous week, thus, we hardly could see any changes on monthly chart. Chances on appearing of possible upward AB=CD are melting week by week. Market has moved and closed below October lows. Fundamental situation and CFTC data stand not in favor of possible appreciation. As market was significantly oversold we’ve suggested retracement up. Thus, we’ve made an assumption of possible deeper upward retracement that could take a shape of AB=CD, and invalidation for this setup is previous lows around 1170s. If market will pass through it, then, obviously we will not see any AB=CD up. And now, as market has broken through 1250, next target is precisely previous lows around 1180 – price almost has achieved it. In fact this will be the last chance for possible upward bounce, if, say, market will show something like double bottom. Price is not at oversold right now and not at major support, so really bearish market should reach previous lows level. Gold will be jiggered if it wouldn’t test previous lows, since this is very typical for gold market. That’s being said – primary object for monitoring right now is price action around previous lows. Whether we will see true breakout or it will be failure break and wash&rinse of lows. Latter action in general is very typical for double bottoms and fake breakout could be the first sign of possible retracement up. 

Weekly
Overall context here is bearish as well. As we’ve said previously, price has broken through major 5/8 Fib support here. FOMC decision has led to further downward continuation, but market significantly has reduced the pace – either due end of the year or due changing situation on the market. At the same time SPDR fund data and overall fundamental picture still shows bearish sentiment on the market.
Concerning targets – they are the same. First is previous lows and target of AB-CD down. More extended target, if price will not only clear out lows but hold below it – possible butterfly “buy” around 1100 area. I suspect that we should be ready at minimum to clear out of previous lows.

Daily
Trend here is bearish as well, market just hangs above the target and gradually is forming butterfly “buy” pattern. As market has achieved 1.27 extension too fast, this usually means that market will continue to 1.618 target at minimum. Existing of butterfly lets us approximately estimate minimum downside target – 1165-1170 area. It includes daily AB=CD target, butterfly and WPS1 for coming week. Thus, if it will be fake breakout, market probably should stop somewhere around 1165-1170 area. As we have a lot of stop orders right under 1180 – as they will be triggered, market will accelerate lower and probably will reach specified levels.

4-hour
In very short-term perspective, it is possible that market will show a bit higher move up. There are two reasons for that. First is existing of WPP around 1220 area, second – the habit of gold market to re-test broken supports. Also this level includes major 3/8 Fib resistance level. Also, if you will take a look at hourly chart, you’ll see that latest candle was really fast there and this point on possible upward continuation. Anyway, guys, despite how it will happen – the core stands the same – we expect turmoil around 1180s lows.

 Conclusion
Market still holds  bearish in a long-term and slowly but stably drifts lower. In short term perspective closing of financial year could hold investors from strong action and taking large directional position. This already could be seen from most recent CFTC report and CME trading volumes data.
In short-term perspective we expect challenge of 1180 lows, very probably it will happen till the end of the year. Depending on whether this will be true or fake breakout we will be able to discuss further action.

 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