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Post by novie08 on Jul 7, 2016 21:13:05 GMT -5
You're Gonna Like This Jack:
Rick's Pick for Friday
$GCQ16 – August Gold (Last:1360.80) Posted July 7 at 6:17 p.m. EDT
Gold has held up pretty well since spiking two weeks ago on Brexit news. The moderate upward drift since then promises to deliver not only the 1382.80 target we’ve been using in recent days, but the 1418.00 target shown. Mechanical entries from p or p2 look enticing, and that’s what I would suggest, provided you are familiar with the simple rules governing this type of trade. If the futures were to pull back to the green line, that could set up a ‘mechanical’ opportunity for an aggressive buy, albeit one using a ‘camouflage’ entry in order to greatly reduce the initial theoretical risk of about $2700 per contract.
For what it’s worth, the futures have been moving very predictably lately — which is to say, very tradably. If you want to see just how predictably, check out this pattern on the 15-minute chart: a=1368.00 (8:15 a.m. EDT); b= 1355.00 (9:45 a.m.); c=1358.40. I posted it in the chat room shortly before the 1351.90 midpoint pivot caught the intraday low within a single tick. I have not established a tracking position, however, because I did not explicitly advise bottom-fishing there. Nevertheless, two subscribers evidently used the pattern aggressively and reported getting long very near the intraday low. A larger version of the pattern could set up a similar entry opportunity tonight at p=1356.70 if this midpoint Hidden Pivot support is hit in the wee hours. To find the pattern on the 15-minute chart, use these coordinates: a=1368.00 (8:15 a.m. EDT); b=1352.00; and c=1364.70 (2:45 p.m.).Visit our 24/7 chat room and share timely ideas and real-time results with great traders from around the world. Click on the link for a free trial subscription. This is not an endorsement of Rick, but I do get his emails.
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Post by jacksrbtr on Jul 7, 2016 21:48:28 GMT -5
You're Gonna Like This Jack: Rick's Pick for Friday $GCQ16 – August Gold (Last:1360.80) Posted July 7 at 6:17 p.m. EDT Gold has held up pretty well since spiking two weeks ago on Brexit news. The moderate upward drift since then promises to deliver not only the 1382.80 target we’ve been using in recent days, but the 1418.00 target shown. Mechanical entries from p or p2 look enticing, and that’s what I would suggest, provided you are familiar with the simple rules governing this type of trade. If the futures were to pull back to the green line, that could set up a ‘mechanical’ opportunity for an aggressive buy, albeit one using a ‘camouflage’ entry in order to greatly reduce the initial theoretical risk of about $2700 per contract. For what it’s worth, the futures have been moving very predictably lately — which is to say, very tradably. If you want to see just how predictably, check out this pattern on the 15-minute chart: a=1368.00 (8:15 a.m. EDT); b= 1355.00 (9:45 a.m.); c=1358.40. I posted it in the chat room shortly before the 1351.90 midpoint pivot caught the intraday low within a single tick. I have not established a tracking position, however, because I did not explicitly advise bottom-fishing there. Nevertheless, two subscribers evidently used the pattern aggressively and reported getting long very near the intraday low. A larger version of the pattern could set up a similar entry opportunity tonight at p=1356.70 if this midpoint Hidden Pivot support is hit in the wee hours. To find the pattern on the 15-minute chart, use these coordinates: a=1368.00 (8:15 a.m. EDT); b=1352.00; and c=1364.70 (2:45 p.m.).Visit our 24/7 chat room and share timely ideas and real-time results with great traders from around the world. Click on the link for a free trial subscription. This is not an endorsement of Rick, but I do get his emails. $2700? I love you Novi!!!!
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Gold
Jul 8, 2016 7:39:16 GMT -5
huh likes this
Post by novie08 on Jul 8, 2016 7:39:16 GMT -5
WTH just happened?
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Post by huh on Jul 8, 2016 7:43:22 GMT -5
WTH just happened? That's what I was wondering. Big spike in dollar in reaction to jobs #, but doesn't make sense to me. Besides, gold's been trading with the dollar for quite awhile until just then.
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Gold
Jul 8, 2016 8:06:02 GMT -5
Post by huh on Jul 8, 2016 8:06:02 GMT -5
Dollar already lost support. I think that was a fakeout shakeout move and gold should recover.
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Gold
Jul 8, 2016 8:06:11 GMT -5
huh likes this
Post by novie08 on Jul 8, 2016 8:06:11 GMT -5
Can only think someone important wanted cheap shares! LOL. Has to be one of the wierdest charts ever.
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Post by dino on Jul 8, 2016 8:25:21 GMT -5
WTH just happened? That's what I was wondering. Big spike in dollar in reaction to jobs #, but doesn't make sense to me. Besides, gold's been trading with the dollar for quite awhile until just then. I was hoping Continental found another 1m oz of gold in one of their mines which increased supply and dropped the price a little.
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Post by huh on Jul 11, 2016 12:18:41 GMT -5
Small iH&S in gold pointing to 1370.50-1371, confirms >1361.50 (sell/short it when upside target hits)
DUST downside target ~4.90 (from 5.70)
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Post by jacksrbtr on Jul 11, 2016 15:24:35 GMT -5
Small iH&S in gold pointing to 1370.50-1371, confirms >1361.50 (sell/short it when upside target hits) DUST downside target ~4.90 (from 5.70) Okay but personally I like Novi's $2,700 call a LOT better!
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Gold
Jul 11, 2016 16:12:21 GMT -5
dino and huh like this
Post by jacksrbtr on Jul 11, 2016 16:12:21 GMT -5
That's what I was wondering. Big spike in dollar in reaction to jobs #, but doesn't make sense to me. Besides, gold's been trading with the dollar for quite awhile until just then. I was hoping Continental found another 1m oz of gold in one of their mines which increased supply and dropped the price a little. Someone said the total amount of gold on this Earth would ONLY fill 2 Olympic sized swim pools...unless Rosie O'Donnell was in one of them.
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Post by walnut on Jul 11, 2016 16:39:11 GMT -5
I just calculated, the state of Texas portion of the gold held at Fort Knox which was about $1 billion in 2011 and about 650 million today, is about 3 feet x 3 feet x 3.
I could easily be mistaken though.
I have about 100 lbs of lead bars, and if you have ever picked one of those up you are amazed at how heavy those are for their size. Well gold is about 71% heavier than lead so I can't even imagine how much those gold bars would feel like.
Remember when James Bond threw a large gold bar at Odd Job in the movie? That probably wouldn't be possible. Or when Bond carried the large gold bar onto the golf course to con Goldfinger? Not happening either. Way too heavy to carry onto a golf course.
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Gold
Jul 11, 2016 17:03:16 GMT -5
Post by jacksrbtr on Jul 11, 2016 17:03:16 GMT -5
I just calculated, the state of Texas portion of the gold held at Fort Knox which was about $1 billion in 2011 and about 650 million today, is about 3 feet x 3 feet x 3. I could easily be mistaken though. I have about 100 lbs of lead bars, and if you have ever picked one of those up you are amazed at how heavy those are for their size. Well gold is about 71% heavier than lead so I can't even imagine how much those gold bars would feel like. Remember when James Bond threw a large gold bar at Odd Job in the movie? That probably wouldn't be possible. Or when Bond carried the large gold bar onto the golf course to con Goldfinger? Not happening either. Way too heavy to carry onto a golf course. Huh? (NOT you "huh?") A standard gold bar weighs 12.4kg or +27lbs en.wikipedia.org/wiki/Gold_bar
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Gold
Jul 11, 2016 17:21:03 GMT -5
huh likes this
Post by walnut on Jul 11, 2016 17:21:03 GMT -5
Is this a standard gold bar? See how he is holding it with his fingertips? Seems unlikely he would grip it like that, that thing would be heavy. Obviously I've never owned or held a gold bar, just 1 ounce coins. A standard gold bar is only 7 inches x 3 and 5/8 inches x 1 and 3/4 inches and 27 lbs yep. But not this thing, it looks bigger. Maybe I'm wrong?
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Post by walnut on Jul 11, 2016 17:41:10 GMT -5
Well, since I spouted off about this, I just checked and the best I could manage to throw this thing was about 13 feet. Here my son Jake is holding it. I don't know what it weighs, it may be heavier than 25 pounds. It would not be practical to hide it under your sportcoat onto a golf course. Yeah, I've got too much time on my hands today. I guess my whole point about this is how amazingly heavy gold is, in fact much heavier than lead, which always had surprised me with its weight. A very small amount of lead makes a lot of weight.
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Gold
Jul 11, 2016 18:09:47 GMT -5
via mobile
Post by huh on Jul 11, 2016 18:09:47 GMT -5
Standard gold bar weighs 27.43 pounds
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Post by walnut on Jul 11, 2016 18:17:55 GMT -5
BTW sorry about disrupting this gold trading thread with this foolishness.
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Gold
Jul 11, 2016 21:58:36 GMT -5
walnut likes this
Post by novie08 on Jul 11, 2016 21:58:36 GMT -5
Love Goldfinger; thought you guys were too young to remember it. Look at all that gold! They just don't make movies that that anymore, lol!Sean Connery the best. And whatever is Martin Armstrong doing on that You Tube? And silver is much heavier than gold.
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Gold
Jul 11, 2016 22:43:22 GMT -5
walnut likes this
Post by birthmark on Jul 11, 2016 22:43:22 GMT -5
Small iH&S in gold pointing to 1370.50-1371, confirms >1361.50 (sell/short it when upside target hits) DUST downside target ~4.90 (from 5.70) Still waiting to get a bunch of DUST. Thanks for the price target Huh. GL
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Gold
Jul 11, 2016 23:46:47 GMT -5
Post by walnut on Jul 11, 2016 23:46:47 GMT -5
And silver is much heavier than gold. ?? Is that so?? I think you are joking around?
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Gold
Jul 12, 2016 9:22:40 GMT -5
huh likes this
Post by jacksrbtr on Jul 12, 2016 9:22:40 GMT -5
Is this a standard gold bar? See how he is holding it with his fingertips? Seems unlikely he would grip it like that, that thing would be heavy. Obviously I've never owned or held a gold bar, just 1 ounce coins. A standard gold bar is only 7 inches x 3 and 5/8 inches x 1 and 3/4 inches and 27 lbs yep. But not this thing, it looks bigger. Maybe I'm wrong? Yuh - something's rotten in Denmark about all this and I see what yer getting at Nut. Say the gold bricks in Goldfinger are 1000oz. I looked it up they would weigh 68# and measure roughly 3" x 3" x 10". I dunno what that guy in the picture is carrying but it sure as hell ain't solid gold. Oh - and that 1000oz brick would go for around $1,350,000 plus selling commish today.
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