Follow The Raw
&
Let Your Dreams Come True
Open Real Account ( Standard ) & Get Free €50 ( No Deposit Bonus )
This exclusive offer is available between 25/03/2014 and 25/06/2014
Join us now
What You Waiting For?
Fundamentals&
Let Your Dreams Come True
Open Real Account ( Standard ) & Get Free €50 ( No Deposit Bonus )
This exclusive offer is available between 25/03/2014 and 25/06/2014
Join us now
What You Waiting For?
Gold prices were slightly lower on Friday as the dollar rose after a closely watched monthly U.S. jobs report underscored expectations of a steady recovery in the world's No. 1 economy, while platinum group metals were buoyed by strikes. Traders had held off taking new positions ahead of the data after a near 1-percent gold price rally in the previous session following new stimulus measures from the European Central Bank. While appetite for the metal initially picked up after the report, gains were capped by expectations that the Federal Reserve will continue to unwind its stimulus measures and that other assets will offer better returns, as well as the dollar's recovery. "There can't be a substantial price rebound without any meaningful investor or consumer buying," VTB Capital analyst Andrey Kryuchenkov said.
"Major players will remain on the sidelines for now. European investors would be putting money into blue-chip equities, while with improving risk sentiment there is even less incentive to invest in gold."
Nonfarm payrolls increased 217,000 last month, the Labor Department said on Friday, against expectations for a 218,000 rise, while data for March and April was revised to show 6,000 fewer jobs created than previously reported. The dollar initially fell after the report as U.S. Treasury yields dipped, but later rebounded. U.S. stocks rose.
Among other precious metals, platinum added to gains after South Africa's AMCU union president said the union's 12,500 rand ($1,200) per month wage demand was "non-negotiable", dashing hopes of a speedy resolution to a five-month strike. Spot platinum touched fresh August 2011 highs of $844 per ounce and was up 0.5 percent at $1,444 an ounce, while spot palladium was up 0.8 percent at $842.00 an ounce, on track for its fourth straight week of gains.
"If after further arbitration, the strike is not resolved the government has the option of declaring the strike illegal," HSBC said in a note. "The apparent stalemate has boosted platinum group metal prices but we are mindful that any bearish news could take prices lower, at least in the near term." Spot silver was down 0.11 percent at $18.98 an ounce, but the industrial metal put in its best week since mid-March.
"Major players will remain on the sidelines for now. European investors would be putting money into blue-chip equities, while with improving risk sentiment there is even less incentive to invest in gold."
Nonfarm payrolls increased 217,000 last month, the Labor Department said on Friday, against expectations for a 218,000 rise, while data for March and April was revised to show 6,000 fewer jobs created than previously reported. The dollar initially fell after the report as U.S. Treasury yields dipped, but later rebounded. U.S. stocks rose.
Among other precious metals, platinum added to gains after South Africa's AMCU union president said the union's 12,500 rand ($1,200) per month wage demand was "non-negotiable", dashing hopes of a speedy resolution to a five-month strike. Spot platinum touched fresh August 2011 highs of $844 per ounce and was up 0.5 percent at $1,444 an ounce, while spot palladium was up 0.8 percent at $842.00 an ounce, on track for its fourth straight week of gains.
"If after further arbitration, the strike is not resolved the government has the option of declaring the strike illegal," HSBC said in a note. "The apparent stalemate has boosted platinum group metal prices but we are mindful that any bearish news could take prices lower, at least in the near term." Spot silver was down 0.11 percent at $18.98 an ounce, but the industrial metal put in its best week since mid-March.
May right at the end has shown it’s power by solid plunge down. It could mean that bearish grabber that was formed 2 months earlier is taking it’s power. Also we’ve discussed possible bearish dynamic pressure here and now it looks as clear as never before. At the same time our reversal level here becomes farer and farer. Even if price will reach 1350 area – it will not change big picture. Situation could change only if market will move above 1400 area.
Grabber pattern and pressure is so important right now, because they provide direction for long-term perspective.
At the same time grabber has appeared right at Yearly Pivot Point – this is not best combination for bulls and could indicate reaction of the gold on Yearly pivot. Otherwords it could be a confirmation of bearish sentiment for the whole year. Grabber potentially strong pattern that could lead price back at least to 1180 lows again.
That’s being said recent action indicates that bears’ power is growing and may be market finally has turned to more active behavior. Besides, if we even will get any deeper retracement up - hardly it will change long-term picture. Currently, there are 3 major driving factors on gold - some unexpected geopolitical tensions, inflation and seasonal trend, i.e. spot demand. None of them show significant appreciation. Hence, it is very difficult to take bet on upward reversal on gold market by far. Even more, US fundamental data and seasonal trend now makes pressure impact on gold.
Grabber pattern and pressure is so important right now, because they provide direction for long-term perspective.
At the same time grabber has appeared right at Yearly Pivot Point – this is not best combination for bulls and could indicate reaction of the gold on Yearly pivot. Otherwords it could be a confirmation of bearish sentiment for the whole year. Grabber potentially strong pattern that could lead price back at least to 1180 lows again.
That’s being said recent action indicates that bears’ power is growing and may be market finally has turned to more active behavior. Besides, if we even will get any deeper retracement up - hardly it will change long-term picture. Currently, there are 3 major driving factors on gold - some unexpected geopolitical tensions, inflation and seasonal trend, i.e. spot demand. None of them show significant appreciation. Hence, it is very difficult to take bet on upward reversal on gold market by far. Even more, US fundamental data and seasonal trend now makes pressure impact on gold.
Weekly
It is difficult to add something new to our analysis, because recent week was really small and it has not changed picture that we’ve discussed previously. Weekly chart is major one for gold right now. Mostly because it shows intermediate targets. Nearest target stands at 1236 area – just 10$ lower than the current market. This level probably will become the major one again. We thought that it should be reached on previous week, but this has not happened. By taking farer look – market could form AB=CD down to 1140$ area, because monthly grabber suggests taking out of previous lows and next nearest target below it is precisely AB=CD objective point.
And finally, guys, here could be even butterfly Buy pattern. It has even lower target – 1110$. At the same time guys, this area around 1000-1100$ will become an area of big demand. This is the breakeven cost of gold mining. Price will not be able to hold below this level for long period, otherwise it will be just unprofitable to mine gold… I dare to suggest that market could reach it at the end of the summer, when seasonal trend shifts bullish.
And finally, guys, here could be even butterfly Buy pattern. It has even lower target – 1110$. At the same time guys, this area around 1000-1100$ will become an area of big demand. This is the breakeven cost of gold mining. Price will not be able to hold below this level for long period, otherwise it will be just unprofitable to mine gold… I dare to suggest that market could reach it at the end of the summer, when seasonal trend shifts bullish.
Daily
4-hour
See Why VantageFx ?
_Trade with Winners:
Australian financial service providers, Vantage FX,
have received a multitude of awards over the years including those from IB Times,
Deal Makers, The World Finance Foreign Exchange Awards, Smart Investor and many more.
_Vantage FX have:
Award-winning Execution Speeds
Competitive spreads from 0.0 pips
24/5 Premium Customer Support
_Trade with Choice:
Take your pick. Choose from -->
32 Forex currency pairs
Major indices including SPI200, S&P500, DJ30
Commodities – gold, silver and crude oil
Binary Options – click here to read more about this exciting, new way to trade
_Trade with flexibility:
Choose your leverage amount ranging from 1:1 to 500:1
Choose your lot size - micro, mini or standard lots
Choose your account type – Standard or Pro, Individual or Joint
_Trade Your Way:
Choose the trading solution that matches your trading style:
The popular MetaTrader 4 (MT4)
MT4 for Mac – Exclusive to Vantage FX in Australia
MetaTrader 5
WebTrader
Mobile trading apps for iPhone, iPad and Android
Social trading via FX Copy
_Trade Securely and with Transparency:
No Dealing Desk Execution. No Requotes
100% Straight Through Processing
ASIC Regulated Standards
Funds Secure in Segregated Client Accounts at NAB
_Trade Wisely:
Daily market analysis from our key expert writer and currency strategist, Greg McKenna
Daily Forex Currency Highlights reports
Learn, follow and copy leading successful traders on FX Copy
Free Autochartist tools for live Vantage FX account holders
Free webinars and access to webinar archives
Other educational resources including infographics, glossary and guides
Samer Al Reifae
support5002@vantagefx.com
https://www.facebook.com/LORDOFTRUTH
https://www.facebook.com/FollowTheRaw
https://www.facebook.com/groups/vantagefx/
http://lordoftruth.blogspot.com/
Finally we reach daily chart. Trend is bearish here. Situation on daily
is very tricky – partially because we do not have any clear patterns
yet, partially due anemic action on previous week. I draw a lot of color
lines here, so let’s find out their purpose here. First of all, guys
take a look at downward AB=CD pattern and 0.618 extension target that
gold has broken 2 weeks ago. This was not just minor AB=CD extension but
also major 5/8 Fib support, i.e. we had an Agreement and market has
passed through it without any respect. This fact just tells us how weak
market is and this is also confirmed by recent talks from analysts that
demand in general anemic for gold. SPDR fund assets stand around lows,
just 10 tonnes higher from absolute minimum. This level in June
coincides with MPP that has not been tested yet. As market has tendency
to re-test strong levels that were broken without respect – I suspect
this could become the target of possible retracement up – 1270 area of
MPP.
Next line is red – 1.618 extension of butterfly pattern. As we’ve talked
previously, market turns to upside bounce on ECB speech but has not
quite reached as butterfly as AB=CD weekly 0.618 extension target around
1236$. It means that market hardly will show deep bounce prior reaching
of 1236 area, so be careful with any long position if you have it. This
is always very dangerous to go long right above untouched target.
Finally, next target will be probably combination of MPS1 and AB=CD destination around 1214-1218 area.
4-hour
And the last one – 4hour chart. Here we clearly can see how price hovers
above 1236 area. Market has shown tenuous bounce but suddenly it has
stopped on Friday as no sufficient demand on market by far. Here we
could get 2 possible scenarios. First is appearing something like Double
bottom pattern, if market will return right back down, show W&R of
previous lows and hit 1236 level finally. Second – gold will form some
AB=CD pattern right tno 1265-1270 area and test MPP. Personally, guys,
knowing gold’s cunning and habits, I would bet on first scenario.
We can’t also exclude that market will form some other patterns a bit
later, say, butterfly “Buy”, but right now we will monitor coiling
around 1236 area.
See Why VantageFx ?
_Trade with Winners:
Australian financial service providers, Vantage FX,
have received a multitude of awards over the years including those from IB Times,
Deal Makers, The World Finance Foreign Exchange Awards, Smart Investor and many more.
_Vantage FX have:
Award-winning Execution Speeds
Competitive spreads from 0.0 pips
24/5 Premium Customer Support
_Trade with Choice:
Take your pick. Choose from -->
32 Forex currency pairs
Major indices including SPI200, S&P500, DJ30
Commodities – gold, silver and crude oil
Binary Options – click here to read more about this exciting, new way to trade
_Trade with flexibility:
Choose your leverage amount ranging from 1:1 to 500:1
Choose your lot size - micro, mini or standard lots
Choose your account type – Standard or Pro, Individual or Joint
_Trade Your Way:
Choose the trading solution that matches your trading style:
The popular MetaTrader 4 (MT4)
MT4 for Mac – Exclusive to Vantage FX in Australia
MetaTrader 5
WebTrader
Mobile trading apps for iPhone, iPad and Android
Social trading via FX Copy
_Trade Securely and with Transparency:
No Dealing Desk Execution. No Requotes
100% Straight Through Processing
ASIC Regulated Standards
Funds Secure in Segregated Client Accounts at NAB
_Trade Wisely:
Daily market analysis from our key expert writer and currency strategist, Greg McKenna
Daily Forex Currency Highlights reports
Learn, follow and copy leading successful traders on FX Copy
Free Autochartist tools for live Vantage FX account holders
Free webinars and access to webinar archives
Other educational resources including infographics, glossary and guides
Samer Al Reifae
support5002@vantagefx.com
https://www.facebook.com/LORDOFTRUTH
https://www.facebook.com/FollowTheRaw
https://www.facebook.com/groups/vantagefx/
http://lordoftruth.blogspot.com/
Get the newly designed trading tools package that can enhance your
trading and assist you in achieving your trading goals. Maximize returns
and discover new trading opportunities with this wide range of
seriously advanced tools.
What is the SmartTrader Tools Package?
Nine unique and powerful trading tools completely designed for MetaTrader 4 (MT4) and available in one user-friendly, easy-to-install package. The package includes:
Sentiment Trader
At a quick glance, see what the general sentiment is and trade directly within the same window
Correlation Trader
Determine correlation patterns between pairs in one app with key figures & notes
Session Map
A visual world sessions map synced to your local time-zone with calendar events
Trade Terminal
Advanced trade execution and analysis tool for quick, precision trading
Excel RTD Link
The bridging tool for Excel pros allowing you trade from Excel based trading rules
Alarm Manager
Go beyond just receiving alerts. Automatically trigger orders or close trades based on your pre-set rules.
Correlation Matrix
A flexible and comprehensive matrix grid. See at a glance correlation scores and the strength of patterns.
Market Manager
Customise and create a Market Watch window with different layout options
Connect Panel
Your personal pick of news feeds and Binary Options trading direct from MT4
How do you get the package free?
Visit our SmartTrader Tools webpage for more information on each tool and how to register.
Why Vantage FX?
Trade with Winners
Australian financial service providers, Vantage FX, have received a multitude of awards over the years including those from IB Times, Deal Makers, The World Finance Foreign Exchange Awards, Smart Investor and many more.
Vantage FX have
Award-winning Execution Speeds
Competitive spreads from 0.0 pips
24/5 Premium Customer Support
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
