My facts are chart pattern that show that Gold is in a major long term uptrend.
But as in all trends, there are corrections. before Gold will skyrocket, we will see a correction from current or 2000 $ into the broad 600-1400 area.
Further supporting facts is the contrarian indicator sentiment. We see >95% bullish sentiment on gold which indicates that too many are already invested and the short term trend will change soon, as it happened so many times before
Charts? What about fundamentals? What about the average guy on the street who doesn't own silver or gold? Of course there will be corrections. A monkey could predict that. What's happening today is a paradigm shift of EPIC proportions. Chartists are getting killed out there. $600-$1400? Leaving a little room for error there eh?
I'll wager you some BTC right here and now that gold does not go below $1,000. Ever. At least not in our life time.
As said in the other thread, I am happy to wager. And, the broad range is just a simplification for this thread. I have clear short, mid and longterm price targets that I do not reveal now. |
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I take the challenge: 1 BTC bet
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On the way down to where?
My personal short/mid term targets are 1300-1400, then 1000. Then we will see whether we also reach 600-800. |
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Me too.
Very very short on gold around 1795 today. Can be a big winner on the way down
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My facts are chart pattern that show that Gold is in a major long term uptrend.
But as in all trends, there are corrections. before Gold will skyrocket, we will see a correction from current or 2000 $ into the broad 600-1400 area.
Further supporting facts is the contrarian indicator sentiment. We see >95% bullish sentiment on gold which indicates that too many are already invested and the short term trend will change soon, as it happened so many times before
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here is the link to view the charts: http://bit.ly/q3UQ9WLongterm: UP. Midterm: UP as long as the 9.5 $ - 10 $ range holds Shortterm: UP from the 12.5 $ low and down sloping channel resistance. [/quote] This was not correct. Just sayin'. [/quote] Yeah, bitcoin is not stable enough to be properly analyzed. Anyone hitting it with math to find the future in the long term will propably fail at doing so consistently. You see, individuals can have a far to great influence on the price. There isnt a stable portion of the traders behaving as a mass and so any assumptions made about masses behaving will fail. And since the price is decided, ultimately, by behaviour it is kindof strange to see people trying to abstract the hell out of bitcoin while they're dealing with more individualism and less group behaviour than their math has been tuned to. [/quote] I know you may not have had the time to review the success of the technical analysis since I started here in October 2010.
In fact, I started the Technical Analysis on bitcoins exactly with the purpose to answer the question: "Will my technical analysis work for bitcoin as well as for other financial markets?".
And indeed, it works just as fine.
And when looking at one of the latest technical analysis: "up from the 12.5 low". This means that the preferred scenario is UP, but it also says that you should sell when it breaks below. Many bitcoin traders have done that, minimized potential losses and bought back in the 5.74 - 7.8 $ area (many of my subscribers gave me this positive feedback).
And lastly, to become a good trader on bitcoins or other financial markets, there is more than technical anaylsis you need to master: money management. Everybody needs to learn this. We can't manage this as we do not know your risk profile, etc. |
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I am indeed short CHF since today (larger position) and Gold/USD (small initial position) on top
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Agree with the addition that Silver will be going down even harder and further than Gold (in my humble p.o.v)
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Gold is not in a bubble like Silver was up to its April high.
However, Gold will still experience a major correction down into the 1000-1400 area, and possibly into the 680-800 zone.
Hi. What kinda timeframe are you looking at? |
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@cypherdoc:
You are soooo right.
Gold will surprise almost everyone when it goes down hard against the USD. We have have seen already the top today (went short at 1766 $ today) . But even if not, it will start from a bit higher levels and still has huge downside.
Based on my chart analysis, 1300-1400 is the first target, but will fall soon to lead then to 1000-1100. And then we will see. If this does not hold, 600-800 are next.
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Dow 4000 here we come.
agree with you with a target extension: take away another 0.
400 we come by 2014-2016Dude, if you think the Dow is heading to 400, you're on the wrong forum. We're inflation folk around these parts. Right before Argentina went into hyper-inflation they experienced a brief bout of deflation. Deflation is what gives the central bank the excuse to print more money. DJI/Gold chart shows inflation not deflation. You're misinterpreting it. Gold is simply outpacing the Dow's gains. Anyone who thinks deflation rules the day and currencies are gaining strength is completely ignorant of the economic model (keynesianism) we are practicing today. BY DESIGN it is inflationary. If it is not inflationary the model is broke and they'll do whatever they have to do to get it back on track (print). This will carry on until the currency dies outright. Searching for those happy feelings of Dow gains and currency gains does not change the facts of reality. It is typical normalcy bias rationalization. "Deal with reality or reality will deal with you". Anyone who thinks currencies are gaining (especially against gold) should take a look at these charts. Your opinions don't change the facts.... http://www.galmarley.com/Chart_pages/currency_charts.htm
We are in a massive deflation. Everything loses value against gold = gold is the only one holding value while all other prices (currencies as you shows very well, goods, other commodities lose in value).
And soon, possible even with the today's high, gold will also decline. |
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Stefan, ..... great idea as always, and unfortunately I won't be there.
Do you know that there is the street parade on Sat 13th? You should ...
maybe a good way to create PR and awareness for bitcoin? A bitcoin techno car? Naked people tattooed with bitcoins? ,...
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Gold is not in a bubble like Silver was up to its April high.
However, Gold will still experience a major correction down into the 1000-1400 are, and possibly into the 680-800 zone.
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we outlined in our subscriber newsletters that "a break below the meak or break trendline (running between 12.3-12.5 ee expect a drop to 5 - 5.8.
5.74 was the low then.
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Just updated the bitcoin watch part with a brief review:
http://bit.ly/nsteB3
And yes, I am thinking about refining our offers including rates. You will hear from us in the next 7-10 days.
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I think these prices are a deal although I'm waiting to see how low it will go. These selloffs are probably from the hackers. Just had a 15 k go through not long ago. I'm liking it even though, the bitcoins I have are losing value.
The downturn was expected to happen, independently from hackers, etc.
The chart was very clear to change trend DOWN after the break of the major trendline, which was running between 12.2-12.5. More downside is likely now, perhaps in a "wash-out" type of crash.
The 8.7 low was expected to be only a minor temporary support.What's a wash-out type crash? Sounds scary. That means washing out weak traders hands. In more-easy-to-understand terms, this means: Bitcoin / USD can experience a wild spike down, and it is difficult to assess at what price level it turns. Could be 6$, 5$, 2$, 1$, or lower. |
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I think these prices are a deal although I'm waiting to see how low it will go. These selloffs are probably from the hackers. Just had a 15 k go through not long ago. I'm liking it even though, the bitcoins I have are losing value.
The downturn was expected to happen, independently from hackers, etc.
The chart was very clear to change trend DOWN after the break of the major trendline, which was running between 12.2-12.5. More downside is likely now, perhaps in a "wash-out" type of crash.
The 8.7 low was expected to be only a minor temporary support. |
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Dow 4000 here we come.
agree with you with a target extension: take away another 0.
400 we come by 2014-2016Dude, if you think the Dow is heading to 400, you're on the wrong forum. We're inflation folk around these parts. |
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