andyfuller wrote:Ferru123 wrote:The bubble may have come to an end...
Jeff
The long term trend is still well in tact though isn't it so as a Trend Follower would you not be looking to follow that?
superfrank wrote:Keep buying the dips.
Are you buying in these current dips? My personal view for the very little it is worth and from a complete lack of knowledge base would be to buy the dips = queue massive dive
andyfuller wrote:I said earlier I would be buying now. From the chart view point I think being long has a higher probabilty of a successful outcome than being short, I would be putting in a stop around 1530 based off the low from the end of September of 1540, around 1470 looks like it could provide a good resistance level having held from around mid-april to end of July at that level. But I would guess having a stop that far off would be too wide?
Now that Christmas is out of the way and I am back home and with todays racing not looking worth the effort I thought I would catch up on the IG weekly webinar and our predictions for Gold.
Gold went down and briefly went under 1,525 trading at 1,522 on the intra day chart but on the daily chart hasn't closed much below 1,550 since we made our predictions. It is currently at 1,624 so has basically stood still.
There was some Bullish Divergence if using a 10 RSI just before the end of the year.
So the price is where it was when we made our predictions, about 1,627 (now 1,624) has been as low as 1,522 for a moment but not closed below 1,550.
So for now I am going to hold my Long position.
Any change/comment from anyone else?
P.S. When I get chance I am going to start posting a bit more in the next few months with potential trades as I start to play around more with financials, all part of the learning curve and hopefully get some more discussion/learning going. No doubt I will get plenty wrong but I would sooner that as you learn more from your mistakes imo.
But for the time being one share I have kept an eye on for some time is M&S (MKS) which seems to be in a trading range since September of between 300p and 337p roughly. So if it comes down to near 300p again I would be looking at buying....