1. The speed of light in vacuum, commonly denoted c, is a universal physical constant important in many areas of physics.
2. Lightspeed is a point-of-sale software provider based in Montreal, Canada.
3. Lightspeed, is a 2006 superhero film directed by Don E. FauntLeRoy.
4. Lightspeed was gold's rally on the 21st September.
Happened exactly what I was warning bears last week : we will give back many days of short gains in one day.
So today we erased 6 days of short gains. By the end of the day only those bears were at break even who sold their shorts on the 2nd day of this decline. I can tell you that these bears are below 10%. The most of them sold the shorts later. This is how market works. Slow suffering decline to support zones and powerful rally out of the DCL or HCL to the next resistance.
The problem in selling short here is that bears psichologically in the obsession of the short trade. Even if they can close the position in time and make profit they are unable to change the direction and catch the big move.
In this case the best short traders entered at 1340 and exited at - lets say - 1306 . The profit is 34$ in 8 days. Gold rallied today - 1 day!!!- 30$. But these short traders are not in this rally. Some of them will be waiting for a pullback to enter a long but the pullback will never come. Some of them will try to short and gives back 60-100$ to the as we are breaking to new highs. So that's the way love goes.
In this case we printed a HCL at 1308. It was a tough HCL : almost took out the DCL low but finally the DCL was holding. In the metal markets you have to know : bullion banks and smartmoney will do everything to knock you out of position. The only thing you can use are the cycles. 9 from 10 times the cycle is helping to survive the drawdowns. Unfortunately some long traders were stopped out at the exact bottom. :(
Some of them were margin called some of them were freaking out. If you trade in the metal sector it's very important that you mustn't be 100% invested. If you are trading on high margin impact big players will knock you out in the whipsaws. So try to have a smaller position (20-30% of the total capital) .
Today we rallied to the market . I think tomorrow the dollar will continue its decline in the lack of japanese inervention . And gold will test the upper of the consolidation (blue).
And here comes the trick. As many times in the past worked the selling short at this this is the time when it's not going to work. We are going to break the blue and print a higher high.
The rally above the consolidation depends on how strong is the dollar's decline.
and SLowStoch needs to get overbought and I would like to see a crossover also. Why? Because it's a market and before a serious decline we need to break to new highs.
Bears will be trying to short at the red arrow (1345-46) as it was working well in the past. But not this time.
Bears had entered the short positions. Volume is average. Big players are still in position.
gold will break out of the flag to the upside.
Maybe will not even wait for the dollar weakening...
Now let's see if it holds...
I don't see any reason to post right now because I think gold is more confused than any of us.
We are in a multi month consolidation since brexit.
Sooner or later we will have the next leg up.
I'M not planning to stop out my position , because when I stop it out at the breakdown from the range, price will reverse and start a powerful rally to the upside direction.
So we are in the panic selling stage of the intermediate decline. Will last for 4-8 days.
Someone is really working hard to push gold price and miners down to get a very good entry point.
I think the maximum of this decline could be at 1260 where the 200 daily MA is.
And gold is still supressed. I'm 100% sure this is an artificial move of the banks to shake everyone out of long positions.
Here is just my answer to what you wrote to me:
Yes, you are right, so primitive, LITTLE PEOPLE like you are ... are always arrogant...
You lied that I did not post anything... you saw it two days ago but you are not able to apologize and confess your own wrong. That said enough!
You have proven that you have no idea of successful trading. .. just fantasize ... station... train... lightspeed... junk and silly...
The fact is that (with each chart und prognosis about gold) over the 3 last month’s you was wrong , I said the TRUTH that I posted already 3 months ago (August) “gold will fall at least to 1255 (and deeper)”, that means I was right… despite them you wrote to me “I haven't seen any of your posts. Because you don't have posts”…
I repeat it: despite all the copies of my posts, as evidence, you answered to me “ My knowledge is not for trolls sorry”… what a man are you? Who gives you the right to call me a liar… a troll…? What do you think who are you at all? I meant it well… I warned both, you and the reader several times and you insult me!
I tell you honestly, you have no size and not the right to offend other, better check if you are a troll yourself ...
So I must say: such an ignorant as you are ... sure it is not worth that I post here anymore ... I do not need that low level!
Lying wrong is not the biggest problem, but you go on many nerves because you do not want to take responsibility for what you post and many others think it would be better you would show more class, flexibility and higher level because no one here (TV) is as stiff and naughty as you are.
Do you know why you are (from a specific moment) so unpleasant?
You can not stand others predictions who are making better ... you want your readers to crawl you in your ass talking about that how “you are the greatest” and lift you up in the sky - regardless of whether your strategy is good or bad. I know what you're up to ... I've seen you right away!
Cheap ... Cheap ...
And with every word I'm right ... You know this and that makes you crazy and angry!
All readers who think you can do something, they can have you ... I'm really sorry for all of them who are unquestioningly...
The trading is not just about sympathy or how long one sticks with you, but much more about the profits and successful knowledge ... you have no real knowledge ... only a subjective strategy, which is very deficient ... on which you like paralyzed focus your brain without to respect other opinion.
You can easily ruin your own account, the others as well. I'm relieved not to read you anymore.
au revoir, mon ami pour toujours
Please do not write to me because I will never read this page again
But nowadays traders use other opinions as their own... He has a strategy and he will have faith in it till the end!! If he loses, he makes it better...
To all that lost just because of gold falling, you should stop investing, because you are a fool! A stranger said you hey man.. bet on the red.. and you run to casino and really bet.. what I am saying is.. you had no plan whatsoever.. you took what Arpi said, and now you make him bad, without realising that you are the fool not him.. You don't know him personally, you don't know how big DD he can handle.. you don't know nothing... but you still blindly followed a random guy on TV.. you could rather hand that money over to charity...
As well I like to see people real face.. When you make good trade calls.. ohhh.. everyone loves you.. Ou you are so good.. ohh I love you.. oh I made so much money... When you lose.. you get mad and call names... This is hilarious.. and it is showing how selfish you are! When all is good, you are sweet.. when something is bad.. you show your real face.. Like kid.. when Mom does not give you a money to buy candy.
But with some I can agree that Arpi should be more calm.. and use words IT SHOULD instead of IT WILL.. he has to realise that there are a lot of People ( sorry.. " Sheeple " ) Sheep... that will just blindly take his call, and take it hard especially if Arpi is talking very convincig.. this is how Arpi get's the trolls later.. he grows them himself...
Trade with care.. and make your own plan!
Your analytical skills are superior. It would be so unfair to the majority of your loyal followers here if you cease sharing your knowledge and experience.
Look, as an example, in this very post you called for tagging 200 daily MA at the time the priced of Gold was ~$70 above it and - voilà - it's being tagged as I we speak.
The only thing I'd suggest you reconsidering is providing buy/sell signals. Share your analysis but let people make their own investment decisions. If they are knowledgeable traders, they would benefit tremendously from incorporating your prospective into their analysis. And that's what this site is meant for.
However, if some of your followers didn't bother studying even such basics as John Murphy's textbook, they shouldn't be trading at all. Relying solely on someone else's signals is the shortest path to losing their shirts.
Now, let's take bjorn for argument sake. The other day, when the price was in the $1,310-$1,315 range he was bragging that he had finally went long and was inviting the crowd to PM him in order to take advantage of his analysis. What happened next to his longs we all know. Hence, no one is infallible. The Planet Earth is yet to see a trader who's every call was 100% right.
If certain individuals are especially annoying, I'm sure moderators have means to isolate the public from being exposed to their comments. A lot of people here can support your request to the site management for that.
Lastly, if you are not yet, consider starting reading Chartfreak's blogs (Google it). He offers paid service but even his occasional free public blogs provide enough insight in order to help anticipating market moves. In his last before one public blog he warned about this type of correction coming. And in the latest blog released on Monday he even tried to sketch the actual price movement. He's not a Seer or something but simply a very experienced trader who, in turn, learned from even more experienced traders.
To conclude, I hope your decision to quit is still reversible.
However, eyeshot, having said all that I have to acknowledge that you are perfectly right in your reasoning. It was indeed an emotional move which I should have never allowed to happen.
And, no, I never meant to break house rules.