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Trade the Bollonger Band Squeeze

Gold looks promising

Chart Forum » Gold & Precious Metals » Gold looks promising

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jennytic
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Username: jennytic

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Registered: 03-2010

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Thursday, April 08, 2010 - 04:46 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Gold jumped to a 12-week high on demand for an alternative investment to currencies as the euro weakened against the dollar. Gold for immediate delivery touched 863.466 euros on 7th April, the highest price ever in terms of the 16-nation currency, Bloomberg data show.
According to Reuters “Gold rose 24 percent in 2009 as the Federal Reserve kept interest rates close to zero to revive the economy. The European Central Bank’s benchmark rate has remained at 1 percent since May, helping push the euro up 2.5 percent against the dollar last year. Gold, which generally gains when the U.S. currency declines, reached a record $1,227.50 on Dec. 3”

Daily Gold price chart


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aurora
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Friday, July 09, 2010 - 05:19 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



I have been loving gold lately as a day trader.

I do have one question though: The Incredible Charts quote an opening and closing price but at what time in the day in which part of the world are these prices actually recorded.

In 90% of days for the last couple of months the day's high price exceeds the opening price so I am interested to establish exactly when the opening price is posted.

Aurora







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ken
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Sunday, July 11, 2010 - 01:50 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hello and Welcome, Aurora.

The GOLD on IC is an ETF (exchange traded fund) available on the ASX, which represents one tenth of an ounce of gold(the metal)'s price in AUD. Have you been trading this, or gold contracts on a CFD or futures provider?

GOLD tends to move more with the Australian dollar price than with that of the metal.

The prices on IC are 10am approx for the open, and 4.10pm for the close. This is not gold metal or futures.


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aurora
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Monday, July 12, 2010 - 05:55 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hi Ken

I have been trading via a forex company.

I am interested in the data provided by Incredible Charts, in particular, the times the opening and closing times are set for the daily data they show for the price of gold. Frequently the closing price varies from the opening price the next day.

Aurora


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ken
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Monday, July 12, 2010 - 09:57 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Aurora,

Incredible Charts has a share in at ETF called GOLD, but the price of GOLD (code) is not the price of gold (metal). GOLD is a share and behaves like any share - the opening price doesn't have to be the closing price of the day before. The difference is called a gap, and gaps are common. The metal gold trades continuously on various exchanges around the world so why would the price at 10am today be the same as 4:10pm yesterday?

The GOLD share's price is roughly calculated by a division with the numerator being the gold price in $USD, and the denominator being the Australian dollar in $USD.

Incredible Charts also has Gold (USD per ounce) under precious metals in the securities menu, (code xauusdo_pm).

I don't have any experience of this so I can't help you with open and close times.

You might have to post to support.


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gdd3
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Thursday, October 07, 2010 - 05:37 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Here are two long-term weekly charts of POG(US$) showing an Andrews-Pitchfork structured from the same June '06 low and the GFC Mar.'08 - Oct.'08 correction swing...one is the "normal" price chart the other is the "logarithmic" version. Both A-Pitchforks have been drawn to show 4-quarters, the intermediate 25% and 75% lines in blue.

Taking the "normal" price chart you will note that once we broke above the 1st(blue 25%) quartile in Dec. '08 this line was to prove good support for POG for almost a year to Nov. '09 when POG broke decisively above the 2nd(50%) quartile. From that moment on POG has been running between the 50% - 75%( 2nd and 3rd quartiles)never really staying out of this 'band' if it did break for more that two weeks. In fact, we haven't had a close above the 3rd quartile( higher blue)line since the Oct.'08 swing low... until this week(ie if POG doesn't collapse back below ~ $1300 either tonight or tomorrow night).





Now looking at the "logarithmic" chart, our A-Pitchfork 'smooths-out' the whole 'explosive' move from the Oct.08 low by keeping the price action below(apart from a couple of weeks again)the 50% quartile. However, it can also be seen that most of the rise from the Oct.'08 low has been restrained with-in the rising 1st quartile(blue) and the 2nd quartile lines. You will also note a difference with the present levels in the "log" chart v's the "normal" in that current prices are right at the A-Pitchfork 50% rising resistance line. Interestingly, if we take the same A-Pitchfork range(width), break it up into 1/3's and project back into time to pick up the A-Pitchfork swing-low start point(June'06) and draw //'s from the preceding swing top(May'06) and the start point for the top prong of the A/P and you will agree these(green) trendlines formed good support and resistances over the past 5 years. You will also note that this week's action Has taken the price action above the 3rd 1/3 green line for the first time(sort of confirming the "normal" chart picture I guess).



All very interesting but what does this say about the 'future' of POG? Are we about to see a real 'blow-off' in POG to initially $1420-40(normal) or even $1580-1680(log) if the last of these 'chart' resistance points(50% quartile on log)is broken(on say a two week+ basis). Well, I'm guessing that if any short-term correction is contained by the $1300-$1265 band then anything is possible!

Cheers
Dolphin







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ehmu
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Username: ehmu

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Registered: 08-2010

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Friday, December 17, 2010 - 03:14 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



I am looking for a good entry in to the gold and silver realm.

I have been tracking some gold and silver producers and explorers in Canada, and noticed that the producers lead the way down in the correction for the precious metals. This same phenomena occurred when oil pulled back from $150, the price of the producers lead the way by quite a large margin.

GLD is an etf for gold has now established a down trend with falling tops and bottoms, and has broken the up trend. So now I am looking for signs of price recovery so that I can buy some of my gold producer stocks.

SLV on the other hand has only shown me falling tops and hasn't yet confirmed a down trend with falling bottom confirmation or a broken up trend. I anticipate that silver will fall harder than gold, but the big speculators need to set the stage to get the last juice out of the late comers.

I'm attaching two charts that I think represent the market for the metals in $US.






_____ n a m a s t e

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