extremely bullish on gold: an extended techn. analysis.

at this point in time I became extremely bullish during the course of last week. I have tried making an extended technical analysis rapport on this: http://localsfoolsgold.blogspot.be/2013/11/how-to-analyse-and-end-of-week-what-do.html

 

fundamental analysis plays no role whatsoever in my findings ...

 

Today didnt agree with your read, still maintain this view?

Perhaps demand a turn before predicting the low.

 

Well, I clearly missed something, got stopped out http://localsfoolsgold.blogspot.be/2013/11/stopped-out-at-127420.html and changed my point of view: http://localsfoolsgold.blogspot.be/2013/11/discipline-trumps-conviction-swingtrade.html playing Madame Soleil wasn't too smart and overlooked short signal this morning. I was wrong, no point in debating it much. Looking for short now ...

 

what`s your mid to long term overlook on Gold?

thank you

 

I am neutral here untill we see a breakout of the last 8H candle. We still might somehow morph again into a very bullish scenario. But I'd prefer the market tell me the next scenario so as to not make the same mistake twice. http://localsfoolsgold.blogspot.be/2013/11/what-happened-in-asian-session.html

 

Biting the bullet to get us some piece of the action: As mentioned in my last post: the charts seeme to have morphed into a much more bearish looking setup. I'd prefer to get in now with a tight stop on 15M chart. If the close of the current bar is an engulfer down I get in. If it turns out to become an inside bar, I put a sell stop below it the next 15 minutes. That is unless my original stop sell doesn't get hit before. I am going to put my stop at 1273.60 USD which is pretty tight but at this moment I like to keep the market on a short leash considering the fact entering here is not ideal. The good entry would have been around 1286. Can't turn back the clock though.

UPDATE: still waiting for that bearish signal to show up on the 15M

http://localsfoolsgold.blogspot.be/2013/11/biting-bullet-to-get-us-some-piece-of.html

 

I finally got into a long in the end at 1275.80 since the 15M morphed in the end after all, stop at 1270.75 and hoping we can soon move that to a safer place.

 

I`d defenitely not buying now.BTW,why if you base your analysis on higher TF,such as 2H or 8H and your bearish,yet,you are trying to buy it from the smaller one?

 

I originally stated I was going to try to play the breakout of the 8H inside bar. And this is what happened in the end. This isn't the too easiest of zones. I might go short again later if there is proof.