Tuesday, January 7, 2014

Gold Trend Jan 08/2014

Long Term ~ Neutral - need a monthly close above 1800 to confirm the bull market final phase underway
Medium Term ~ Bearish - Need a close above 1321-1370 to neutralize
Intermediate Term ~ Neutral – neutral on weekly close above 1222 - resistance-1272
Short Term ~ BULLISH – Be careful --- FOMC mins and Jobs data coming up.  The 1244-1254 area is resistance and short term cycle will only finalize on Wednesday.
Initial Resistance 1234-1244 2nd tier 1254-1257
Initial Support 1212-1222 and 2nd tier 1192-1202

Last update listed resistance at 1244-1254 and the high was 1245.
Support was listed at 1230-1234 and the low was 1225.  (2nd tier was 1214-1222) so we came closer to 2nd tier.

 Gold Short Term
the control boyz will be out tomorrow == with ADP jobs and FED FOMC minutes.  It could be a wide trade day.
A close above 1244-1248 leads to 1254 at the upper end of that 10 dollar range.  A close above 1254 then goes to somewhere near 1272 plus or minus 5 bucks on either side. The bullish read on pattern is it’s possible that we’re on wave 4 with wave 5 still in front of us on the very short term.  The bearish read is as we discussed last night---the market has had CHOPPY pattern since 1200 --- but rise had remained strong into the first resistance point.  It is also possible that the rise could end in three waves up --- an ABC pattern.
 The part that is missing is the OVERLAPPING of these waves.  Does Monday’s plunge to 1212.60 and Tuesday’s retest of weekly 1222 (actually only got to 1224).  The answer is no it was not deep enough.  Regardless, it is not a FULLY BEARISH PATTERN.  What we do know is that a close above 1244-1248 would tilt the upside to give us an up cycle is the most likely event with wave 5 being in play till around Jan 16th.   Support is 1212-1222 and then 1195-1205.  The green 200 hour moving average gave support on the plunge to 1211 on Monday and it sits around 1218 and by tomorrow could be near 1220.  In summary it’s the first week of the year and it’s normal for the TRENDS to fight for first rights. You can see the work they had to do to hold 1245.  The best outcome would be a mid month low as that would give us a blue cycle low.  Let’s see what develops on Wednesday.  As we enter it---we’re right near 1222 the key weekly pivot.
Gold hourly price chart
What Next?
Last night’s what next favored a peak at 1244-1248 and a pullback to the ADP and FOMC data for Wednesday and that’s exactly what we got with a 1245 peak and a pullback to 1222 Pivot (1224 was where we got).
THE FOMC MINUTES and ADP GET RELEASED on Wednesday.  Usually jobs and FOMC would 99% favor a gold peak and sideways to lower into the reports.  Since it’s the New Year --- will it act in the same manner?    Watch 1244-1248 now as resistance.  On the downside 1212-1222 is the support.
The thing we’re going to have to watch is now that a new year has begun, we have to be alert for CHANGES in market reaction to what we were used to last year.  If gold is entering a medium term move higher in Jan/Feb then expect surprise reactions to the stuff we see.  Once the trend becomes BULLISH it’s not going to matter what the news is.  There will be a few days’ setbacks and it will reverse and move higher…just like we’ve been seeing on the downside only opposite.

Bottom Line
IF WE BREAK ABOVE 1244-1248 then 1254-1258 would become the next target and potentially into the 1260-1272 range.  OTHERWISE the short term cycle began that leads gold lower into mid month.  If we close above 1244-1248 then a CYCLE INVERSION becomes the ODDS favor and higher to mid-month. 

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