DislikedBlythe, do you come up with your own trading plan of when to enter/stoploss etc. using your neowave knowledge, or does the neowave service website provide you with the trade setups.
Thanks.Ignored
Lehman Sisters Wouldn't Have Failed
GoldenEuro Cross (XAU/EUR) GoldenAussi Cross (XAU/AUD) 51 replies
Gold futures & XAU 77 replies
Daytrade - XAU/USD & XAG/USD 14 replies
XAU/JPY & XAG/JPY 13 replies
Successful XAU/USD traders 7 replies
DislikedBlythe, do you come up with your own trading plan of when to enter/stoploss etc. using your neowave knowledge, or does the neowave service website provide you with the trade setups.
Thanks.Ignored
DislikedNOW - on the GOLD daily it looks as though the SECOND SHOULDER IS FORMING
to match the FIRST SHOULDER I underlined in red.
THE HEAD and NECK are in place.
We will see....... It is not perfect but they never are.
Stocks trend much more smoothly at times and these patterns are based on stock trading.
NOW the neck is in the proper place, - the pattern failed initially due to the sell off, it looks like it is changing and may still be valid. SEE THE RED ARROW.
No promises.
I am bullish anyway and targeting 2100 ultimately off the symmetrical...Ignored
Dislikeda Clean break and retest of 1739-40 would confirm any further upmove. thats till that level of course. i cant help but think the right shoulder needs to dip in a bit more south for a better looking H and sIgnored
DislikedI've fork similar to that one of yours. Looks like bear failed to take control unless 15xx in sight again. which is.....farrr...faaar....awayyy.................by looking at the head n shoulder, which stock is that of your submitted h&s chart?
notice how EUR keeps going down and USDX keeps going up by 300 pips. While gold has 100-150 pips ranging all week, we were easily overshadowed by gold's "down" movement for a couple of days.
selling trap.Ignored
DislikedGold price is less dependent on USD with all the various other currency issues and debasement.
The Euro tanks - Gold should rise
The USD tanks - Gold should Rise.
Also when looking at the USDX bear in mind that 58% of it is weighted against the most troubled currency major besides the USD the EURO.
Thus, any swing in the EURO artificially pumps up the USD.
When in fact it's value is still shit.
I feel the USDX is an antiquated index and needs overhauling BIGTIME.
NO AUD/KIWI ----- ABSOLUTELY no relation to China's CNY pegged and manipulated...Ignored
DislikedThis wasn't addressed to me but I will give it a go (I wrote my undergraduate thesis on this topic).
Don't forget a lot of institutions hold gold as a safety net against more (comparatively) risky positions in e.g. equities, debt. Their counterparties may want them to post up more collateral in the case that these positions look as if they are turning bad. In my experience there is a very short list of stuff that is accepted as collateral, and gold was not on there. So they would have to liquidate their gold positions to post up $, £, € etc. to...Ignored
DislikedThis wasn't addressed to me but I will give it a go (I wrote my undergraduate thesis on this topic).
Don't forget a lot of institutions hold gold as a safety net against more (comparatively) risky positions in e.g. equities, debt. Their counterparties may want them to post up more collateral in the case that these positions look as if they are turning bad. In my experience there is a very short list of stuff that is accepted as collateral, and gold was not on there. So they would have to liquidate their gold positions to post up $, £, € etc....Ignored
Disliked
Thus, any swing in the EURO artificially pumps up the USD.
NO AUD/KIWI ----- ABSOLUTELY no relation to China's CNY pegged and manipulated by the Chinese GVMNT or not - it is of GREAT importance in relation to the dollar.
One of the pairs USD/CHF that actively shows dollar sentiment daily is like 2% i think.....Ignored
DislikedXT
You just answered the very question I had in mind about the behavior of Gold last Friday compared to currencies. Remember, I'm a novice in Gold.
I was watching your demo account started early last week and on Thursday I saw it brimfull with crisp green pips/dollars. My though was that you would harvest all USD sells before the NFP and enter again right after it in the opposite direction. But you didn't. (you did close some though).
I understand your point re the fundamental weakening values of USD and EUR. However, when the EUR is hammered,...Ignored
DislikedPrecious metal plunge part 3?
http://www.forexpros.com/analysis/pr...-iii%20-116528
What do you think?Ignored
DislikedWithout wishing to be rude, there are 17500 comments in this thread answering the question you have posed. What do YOU think?
beebIgnored