Long Term ~ Bearish-Need a monthly close above 1800 to confirm the bull market
final phase underway. Need a monthly close above 1560 to neutralize the trend.
Medium Term ~ Neutral– Gold has been upgraded to neutral, but just barely.Intermediate Term ~ Neutral– Resistance is 1312 and 1322.
Need close above 1310 for full bullish. A close below 1239 puts trend in bearish.
Short Term ~ Bearish- a cycle low is due Feb 3rd (plus or minus 72 hours).
Need a close above 1285 to return to neutral.
Initial Resistance 1266-1272 2nd tier 1278-1286
Support 1251-1255 2nd tier 1228-1243
The last update listed resistance at 1285-1292 and the high was 1285.
Support was listed at 1263-1272 and 2nd tier at 1243-1255 the low was 1255.
The USD was down today as the Commodity Currencies made up for losses incurred in recent plunges as oil has reversed and moved back to the 50 dollar area. Seasonal lows in Oil most often occur in December or February for the year. However, this is not your dad’s market.
Recall that the Saud King just died. This is the same king that Sec of State (USA) Kerry just met with on Sept 11 (yea how about that date) and oil has been falling ever since. Now, you either believe that supply/demand shaves off 40% of the energy market price or that Kerry and the King are working to really give Russia the 1-2 punch. And what’s at stake? THE PIPELINE TO THE MIDDLE EAST where there are two suppliers --- Russia OR the Saud’s. Odds favor that’s more likely.
What about Greece ?ODDS FAVOR WE GO BACK AND FORTH AND BLUFF and Greece threatens to default BUT AS WE HAVE SEEN OVER AND OVER --- they come to terms in the last moment. At least that is the way it almost always goes. Nevertheless, its all BANTER until the end of this month.
However, You know Merkel, Draghi, Dijsselbloem et al. have a problem when... More than one in three Greeks (35%) in 2014 approved of Russia's leadership, while fewer than one in four (23%) approved of the EU's leadership.
Short Term Gold
We discussed last night the short term trend being bearish and required a close above 1286 to go neutral. Today’s high was 1286 and it was downhill from there. In order to best show you the battle at 1255 on the downside and 1285 on the upside, we go to the daily chart. 4 of the last five days (counting this new day that just started) traded at the 1255 area. The last four days also traded at 1285 each day. Will it rally again on Wednesday to 1285 or will it break down to the next support at 1239?
It’s quite the pickle because we are down to 72 hours before the cycle turns but a break here and gold moves to either 1239 or 1222. So even though we are close to a cycle turn, the market’s inability to close above 1286 leaves the downside open as gold has not yet decided on its trend. 1255 is the previous high from October and it is also the 200 day moving average and at a mid line channel. In other words, we have to expect 1222-1239 if we take out the 200 day near 1252. Resistance begins on Wednesday at 1266 – 1272 and 1278-1288. If support at 1251-1255 then either 1238-1242 or 1217-1222 will become the next targets.
The bottom line is that the short term trend did not close above 1286 (which was our cue for higher price we discussed) and we have a FIB 55 day high from the low so as long as that is the situation, then gold can still move lower. A close above 1286 would favor the low is in and we’re going to move higher while a close below 1251 favors lower. The 1239 area is a 38% FIB pullback. The highest number of FIB hits on a pullback is the 38% area. Finally, the talking heads at CNBC were discussing the 1255 area and its importance to hold (200 day, last high point, Elliot Wave, Etc). If the talking heads are discussing it, the control boyz might just be planning to take out 1255. If they can’t and 1255 holds odds favor a sharp rally to 1322 (the upper channel will take place). While black boxing the market down to one number is not a good strategy, I think that 1239 has a better chance of holding that 1255.
de 50$ fara depozit.
Inscrieti-va cu HiWayFx
--> https://www.hiwayfx.com/50
Aceasta oferta este valabila persoanelor cu resedinta in Romania pe perioada 01 Februarie - 28 Februarie 2015.
Pentru inscrierea la aceasta promotie vor fi necesare documente care sa ateste rezidenta in Romania.
In caz contrar compania isi rezerva dreptul de a nu acorda acest bonus.
M Samer Al Reifae
Official Representative in Romania at HiWayFX
http://lordoftruth.blogspot.com
samer@hiwayfxglobal.com
+40 734 277 757
in over 80 instruments including currencies, indices, metals and oil.
licensed by the Cyprus Securities and Exchange
Commission (CySEC) under license number 252/14
General Information
Broker Type: ECN
Account currencies: USD and EURO
Languages: English, Spanish, Indonesian, Russian
Account Currencies: DKK, NOK, PLN, TRY, HUF, ZAR, MXN, CZK, SEK, SGD, HKD, CNY, RUB
Minimum Deposit: $20
Maximum Leverage: 1:1000
Minimum Trade Size: 0.01
Scalping: Yes
Hedging: Yes
Free Demo Account: Yes
Traders From USA: No
Islamic Account: Yes
Features
I_ Exclusively 1:1000 leverage.
For this option:
1_You have to select Standard NDD Account When you want to Open trading account.
2_Select the above leverage.
II_You may have running 30% tradable bonus OR 100%
non-tradable bonus for Standard accounts upon request.
30% tradable bonus
--> http://goo.gl/inbsKk
100% bonus
--> http://goo.gl/HQ9vdf
We may offer 50% deposit bonus
(Stand acc, terms the same apart from leverate up to 1:300 and stop out 100%, max $4000)
III_Loyalty points.
Needs better incentives: As a part of the HiWayFX will to support its clients,
the Company will credit loyalty points to the clients trading accounts.
These points could be used for trading. No additional conditions apply. 1lot=100 points.
--> https://www.hiwayfx.com/loyalty-points-terms-conditions
IV_World Rally Forex.
Open a LIVE/DEMO Account & Win Cash Prizes
--> https://my.hiwayfx.com/contests
A total of 4,000$ every month is given to the winners!
HiWayFX offers four different trading platforms: MetaTrader 4 Windows which is described
as a ‘light’ platform application which can be installed on any computer that runs Windows XP (SP2) or newer.
The MetaTrader 4 for Mac uses applications
such as "Wine" and "PlayOnMac" and the MetaTrader 4 versions for Android and IOS
are easily installed.
as a ‘light’ platform application which can be installed on any computer that runs Windows XP (SP2) or newer.
The MetaTrader 4 for Mac uses applications
such as "Wine" and "PlayOnMac" and the MetaTrader 4 versions for Android and IOS
are easily installed.
Download instructions for all four versions are provided on the site.
There are also four different trading accounts available on HiWayFX.
The HiWayFX Standard NDD requires a minimum deposit
of only $20 to start and there is leverage available of 1:1 up to 1:1000.
This is a Non Dealing Desk (NDD) account with virtually no delays in execution.
The ECN NDD account is for more advanced traders and requires
a minimum deposit of $150 and leverage up to 1:500.
The HiWayFX Standard NDD requires a minimum deposit
of only $20 to start and there is leverage available of 1:1 up to 1:1000.
This is a Non Dealing Desk (NDD) account with virtually no delays in execution.
The ECN NDD account is for more advanced traders and requires
a minimum deposit of $150 and leverage up to 1:500.
There are two demo accounts, the standard demo account with $100,000
in virtual funds and the ECN NDD Demo account. Both have live market execution.
in virtual funds and the ECN NDD Demo account. Both have live market execution.
Trading Platforms
MetaTrader 4 iOS By Meta Quotes
MetaTrader 4 By Meta Quotes
MetaTrader 4 Android By Meta Quotes
MetaTrader 4 MAC By Meta Quotes
Stop Order: Yes
Limit Order: Yes
Market Order: Yes
Trailing Stop Order: Yes
OCO Orders: Yes
One Click Trading: Yes
24hr Trading: Yes
Charting Package: No
Trade off Charts: Yes
Streaming News Feed: Yes
Email Alerts: Yes
Mobile Alerts: Yes
Fees & Commissions
Commissions:
Forex: 0.002% pet transaction only for ECN account type
CFDs: 3$ pet lot (for stock Indices)
Margin Interest: Yes
Depositing Fees:
Deposits from credit cards are covered by HiwayFX
Service Details
Customer Service By: Newsletter, Call Back, Phone, Chat, Email
Customer Service Hours: Up to 24 Hours
Email Response Time: Immediate
Telephone Orders: Yes
Personal Account Manager: Yes
Official Representative in Romania at HiWayFX
http://lordoftruth.blogspot.com
samer@hiwayfxglobal.com
+40 734 277 757
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
