Hey Ivan, I still don't consider myself an expert by any means.
Anyone influenced by my posts should remember to put their own thinking caps on.
I am becoming quite a swing trader this year, LOL, even though I am convinced there's considerable upside long term for BDR, I cannot help but try to trade the up and downs making a bit along the way...
"It's amazing how similar the chart pattern is on the weekly when you compare the period right before they raised in December and there period we're in now, with a raise rise looming.
I'm no chartist, but I wonder if (assuming they raise rates), we might see the weekly form into a ''bowl'' like structure like it did in December and then have a huge rally upwards.
If that's the case then we'll probably touch 1180 on the downside. I have been fairly impressed by the strong support that the 1200 level has shown. I'd imagine that Comex will have another crack at forcing the price below $1200 tonight."
-Bowl structure, we shall have to watch and see.
-Rates, save us please! haha. I'm sure the Fed can draw out a raise for a long time and try and hold us all on the edge of our seats for a long time if they want to.
My gut feeling is, despite how good or bad it would be, they will do it again this year. I would guess within the next 3 months if everything keeps coming up roses.
-Agree, support of this $1,200 level has been strong this week. It hasn't given way yet.
Having said that, I also agree and think $1,180 is still a very real possibility, and despite more falls from here, this could still maintain the overall uptrend.
My
third pic I shared I hope explains why I feel that way. It just looks right to me
Seasonal Gold prices also tell us that POG doesn't get very exciting till around August to December, so it may continue to lag a bit till then. BDR needs to come out with some more good news/results to lift our spirits between now and then.
-Smackdown, I actually feel like this week's indecisiveness alone is enough to cause more falls from here. There just seems little to drive POG up at the moment. Few times now we've seen numbers from US and other countries that looked bad enough but gold didn't really do much in response.
something has to give at some point - and perhaps that will come when we all least expect it.
LOL. How about early this year when the headlines were saying "sell everything"
We've seen some amazing rises across the board since then, but the feeling at the time fit my mood perfectly, yes! sell it all!!
Just sharing all those charts made me feel more bearish again and I think of the huge profits I've made this year and can't help but feel there is more downside correction coming, what with this last week being unable to buck the trend.
I mean come on, since when did I make a killing on the share market like I have this year
(it isn't just BDR I've traded, but I know that's been a fairly large portion of it)
I wasn't holding a lot today but the charts again reminded me why I got out, so I sold those that I had in the closing auction.
It's a bit ridiculous, but I feel that I must stick to my guns here.
When I see something that doesn't make for the right trading conditions I feel uncomfortable sticking with it. Watching 26.5 to 30.5 this week was so enticing tho!
Still believing in massive returns for all on the bus from here and into next year.
Have a good weekend all!
PS. All the best to
@sydney who's gone quiet of late.
Hope if you left the bus you are still watching carefully and able to jump back in for another good ride from here. I figure you were also very much attached to POG as part of your investment strategy so completely understand if you hopped off on this part of the trip.
