Trading with PT style

[praveen taneja]

Gold fell to 1625-30 Zone Reason is >

Gold tumbled as the Fed signaled in the March minutes that the chance of QE3 is low unless economic growth falters. The wordings of the minutes were also more hawkish than previous meetings. The benchmark Comex contract for the yellow metal plummeted to a 2-week low of 1640.2 before rebounding to 1662.4, down -0.46% at close. Strength in the US dollar also sent crude oil prices lower. Moreover, news that Saudi Arabia would not cut oil supply despite SPR release also pressured prices. The front-month contract for WTI crude oil fell -1.16% while the equivalent Brent crude contract slipped -0.45% during the day

 

[praveen taneja]

Silver down 1800Rs now

Gold down 400Rs

PT LOng Jewellers on strike what to do Jai Ram Ji KI

First add to position sl No Need Tgt Sky High Jai Ram Ji Ki 35000

People were anticipating QE3 so now no free lunch so Muft ke maal pe trading karne waale long exit kar rahe hain

Apun Ko Kya Hum to Ram Ji Ke maal par Trade kar rahe hain

 

[praveen taneja]

Its beauty watching mkt fall even when you are Long

Metal Index down more then 90 point means 2%

TA/FA walon ka susu nikal gaya hoga Bhediya Bullish se bearish ho gaya hoga:rofl::rofl::rofl::rofl::rofl::rofl::rofl:

 

[praveen taneja]

so far 1620$ giving some support lets see kahan jaata hai 1600-1580-1550-1523

 

[prabhsingh]

Complete Europe is down alomst 2% and US Markets are down alomst 1.5%.Spanish bond sale disappointiing.Indian Markets cant be left behind.We can expect big gap down in Indian markets when they open on Monday unless something drastically happens tomorrow world wide.

 

[EagleOne]

so far 1620$ giving some support lets see kahan jaata hai 1600-1580-1550-1523-...1480 > 1405 >....672!

............

 

[timepass]

Complete Europe is down alomst 2% and US Markets are down alomst 1.5%.Spanish bond sale disappointiing.Indian Markets cant be left behind.We can expect big gap down in Indian markets when they open on Monday unless something drastically happens tomorrow world wide.

But they have 2 more days to go this week, and may bounce back 2-3%, then what will our markets do ??

 

[praveen taneja]

so far 1620$ giving some support lets see kahan jaata hai 1600-1580-1550-1523

............

So far 1620 $ holding TA/FA guys ran away yday now only Tukka traders holding long avged nearly bottom of ydays low lets see

Tgt still intact 2500$ people who exited longs were those who were trading on funding bhalaa apne paise par kaam karne wala loss kyon book karega wo bhi Gold mein:clap::clap::clap::clap:Jai Ram Ji Ki

 

[praveen taneja]

Gold is seeing a bit of buying across Asia this evening but the damage on the technical price charts has been done. We are now seeing hedge funds becoming active shorters of the Comex gold contract. They still remain net long (even with the liquidation) but a growing percentage of this category of traders is playing gold from the short side. This means that rallies are going to be sold UNLESS gold can clearly get back above $1680. A trip back towards $1660 will flush a few of the weaker handed shorts out but not until and unless gold proves that it has what it takes to stay above $1680 will some of the stronger shorts begin getting squeezed out.

We now have a boatload of brand, new fresh short positions by this category, all of which were put on below $1660. Keep an eye on how it behaves should it make it back to that level.

Downside support near $1600 is now in play with a breach of that setting the stage for an even deeper drop down towards $1570.

Remember Always that

Mkt always need Huge Shorting to Go Up and Huge longs to go down

 

[prabhsingh]

Not 2 days only 1 day because on Friday its Easter and all the Markets will be closed.