[SF Monedge]

Bloomberg – Goldman Sachs Group Inc. and Wells Fargo & Co. economists expect the government’s preliminary benchmark revisions on Wednesday to show payrolls growth in the year through March was at least 600,000 weaker than currently estimated — about 50,000 a month.

Has the FED has become a veiled political arm and not a FED?  Many are more than satisfied that is the case.  Regardless, the hidden figures alters the interest rate outlook and the presents the likelihood they are behind the curve in reducing rates which ultimately will cause highly chaotic economic results for quite some time.

[Belgrade Bobby]

XAUUSD – Gold Daily

Supports : 2480.00 ,  2465.00 & 2410.00

Resistances : 2510.00 , 2515.00 & 2570.00

Close tonight above 2485.00 would call for another leg Up.

[GVI Forex 2]

With XAUUSD topping 2500 to set a new record high on Friday, the question is whether this is a speculative bubble or is there more to the surge in the precious metal?

What is the Surge in Gold Saying About the US Dollar?

 

[Belgrade Bobby]

As for the time frame that works the best with Continuation and/or Reversal patterns, although it works on all time frames , but bigger time frame – better / more sure results.

4H and Daily seem the best to trade on .

There are other chart patterns and formations  that are way more suited for smaller time frames and we’ll talk about it way later…

As for Gold – yes it should be considered a Bullish Rectangle – but mind you that I said pretty clear a day ahead that it’s gonna break it and go to the new high – and that was NOT based  on a crystal ball 😀 but on the above mentioned short term patterns that I have developed/collected over decades.

I need a full understanding of the market and charting from all the members to be able to explain/teach about it…So later J

[GVI Forex 2]

Bobby, great updates on reversal and continuation patterns

2 questions

1) What time frame charts work best for reversal and continuation patterns?

2) Is this daily gold chart pattern considered a rectangle continuation breakout? If so, is the target 2617 based on the 2349-2483 range?

[GVI Forex 2]

`BTC DAILY CHART – WILL BTC JOIN THE PARTY?

With Gold setting a record high, will BTC follow suit and join the party?

With the low seemingly in place, the only level that matters to me is 65602 as a firm break would be needed to put 70K in play again.

[SF Monedge]

Side note, that Goldman comment was not my opinion.  It is a fact.  I had a few good conversations about it with a former Goldman executive about it and a few others as well.  Think my comments are a joke at your own peril.

[SF Monedge]

For you JP –

The FED matters if you are position trading.  Goldman Sachs does not care about what the FED says or its dot plots other than to use it as a means to attack volatility and adjust exposure.  The reason I do not trust US government economic numbers……….

In 1969 a Mars chocolate bar cost me 10 cents at EZ Freezy Market in San Francisco and today it is $1.25, yet the production-packaging-shipping-distribution is more efficient.  This is not a supply/demand issue or a consumer confidence issue or a rate of change issue.  People want chocolate no matter what, everything is more expensive, and profit margins matter.  They can drop rates 10% and people will still gorge on chocolate.

Chocolate_1

Fed _ 0

Remaining long Usd/Jpy from lower.  Buying every reasonable pause.

[SF Monedge]

The AMEX Gold Bugs Index went straight up and is a mix of risk on sentiment and hedging at the same time this time.  Geopolitical tension, war, failing economic structures, failing political con games weigh while ever-present demand not just to keep your girlfriend from complaining but for high end defense electronic and other solid use reasons.

And then there is speculation.  Buy side internal metrics a 5 times greater than sell side this morning.

[Belgrade Bobby]

XAUUSD – Gold Daily

Supports : 2450.00 , 2435.00 & 2400.00

Resistances : 2485.00 , 2525.00 & 2550.00

Close tonight above 2450.00 will be Bullish

Close below 2450.00 would just postpone run for a new high.

[Mtl JP]

imminent
GOLD 2447.47
–

In Israel, Support Grows for Offensive Against Hezbollah – wsj aug 14
As the U.S. works to avoid a regional war, inside security circles some wonder whether now is the time to risk one.

[michael Calif]

Aug 11 repost:   nearby Gold futures should peak and turn lower no later than Thursday    :gtwo3

[SF Monedge]

For the average investor the big question every day is “just shut up and tell me to buy or sell.”  For portfolio managers at Goldman Sachs the question of the day is “where are we in our positioning with relation to our ongoing allocations and Volume Weighted Average Valuations and are we at valuations that warrant further input or further hedging.”  So the net result is the people running billions try to talk to day traders but they have trouble understanding their language, which sounds like Martian to them, and which is based on a lot of understanding.  And so the day traders lose patience and say again, “just shut up and tell me to buy or sell.”

Which is a missed opportunity if you don’t have the patience to listen.

So Mars to Earth – I prefer the sell side on these pull ups today even though it is against the grain, because I am seeing things that point to a gradual shift in overall bias.  In fact, when Dow hit 398.50 that was a decent spot worth consideration.

And I will be buying more UsdJpy any minute now.

[Belgrade Bobby]

XAUUSD – Gold Daily

Has to go above 2485.00 to confirm the new wave that can run as high as 2600.00 at least.

Support comes at 2435.00 and ultimately 2385.00

[GVI Forex 2]

Gold extending its high… 2477 is the last line of defense ahead of 2483.

[michael Calif]

nearby Gold futures should peak and turn lower no later than Thursday.    :gtwo3

[Belgrade Bobby]

XAUUSD – Gold Weekly Chart
Supports : 2415.00 , 2395.00 & 2300.00

Resistances : 2460.00 , 2475.00 & 2490.00

Continue reading…..

[Belgrade Bobby]

XAUUSD – GOLD

If the Shiny thingy surmounts that Line just above the head ( apx 2430.00 ) , we’ll be on the road to 2500.00 for starters.

Another test of the support at 2390.00 is still possible, but I wouldn’t discard the possibility for Gold to just continue Up without further delay.

Ultimate target is at 2615.00

[michael Calif]

higher Gold prices today are in sympathy with the the bull market in Silver; nothing has changed, traders remain Short Gold futures    :gtwo3

[Belgrade Bobby]

XAUUSD – Gold

Supports : 2380.00 & 2400.00

Resistances : 2425.00 , 2440.00 & 2495.00

If it manages to go back above 2425.00 previous high will be in sights.

However , close below 2400.00 would be a bearish signal – not definitive, but first warning.