Strange aggressive move down on gold, despite bad NFP and everything looking towards more gold safehaven. Big fakeout i suspect.

Gold

Yep. Thats what happens when the price moves for no reason. Still catches the retail gang out every time though!

Gold

Exactly. Gold is providing a very good example as we speak. early this morning it came up to a 'level' and went through it without paying it any attention. Lots of traders with lines on their charts will have lost money as price steams 50-100 pips ...

The brutal truth of day trading

Just spotted this thread and found it quite interesting reading the OP and a few of the subsequent comments, So though I might stick my oar in. I've been trading solely forex, and predominantly gold for around 10 years now. I will be honest and say ...

The brutal truth of day trading

I think all the buying in that regard has already happened long ago. The current buying is due to pending US rate cuts and wariness over the orange idiot coming back in a couple of days.

Gold

Exactly! And ultimately all that has happened is that the dollar has weakened just a tiny bit, and gold had gone up a tiny bit. If you could ignore the manipulation, it was a spot on day!

Gold

The big institutions don't need to cheat to know where your stops are. They just look at a chart. They know that the 95% draw silly diagonal lines and fibonacci and then put their stops all roughly in identical places. That's why these methods lose ...

Gold

I would say that looking at the longer term trends, keeping your positions small enough to cope with the news, and just ignoring it.

Gold

Us data is negative and puts interest cuts as 'more likely', so Gold jumps up as a result, then the banks take it short on purpose to fuck everyone's easy trades and soak up our cash. The manipulation is hilarious and most people fall for it every ...

Gold

Its not going up dude. May retrace a little, but its going to 1.18 at least.

Cable Update (GBPUSD)

Bet you feel stupid now

Gold

Still sitting on my lovely short from Oct 24th. Absolutely no reason to be doing anything other than adding more short. Eur going to parity in the next 2 weeks.

EURUSD

Nice big fakeout against the Dollar. Gonna catch a lot of you out early this week. Always be wary of large movements against the trend for no reason.

EURUSD only

You guys and your Fibonnaci nonsense are hilarious. It will plough through every level over and over, and when it eventually appears to bounce off of one (law of averages says it will every now and again) you think you've mastered a mystical ...

Price action trading

I thought it might take an hour longer to get there, but Happy Days!

Gold

Kijun Broken, and retested with Lots of volume. most likely continuing new down trend for rest of day now. I'm guessing 2650 or lower by close.

Gold

Indeed they are. Isn't it strange how 95% of traders lose money in forex, and 95% also try to trade reversals. It's almost as though there is a pattern there!!

Gold

Remember that fundamentals are facts, Levels on a chart are entirely subjective.

EURUSD only

Current push up appears stronger even than the one from 14th - 24th Nov. That one was over 1700 pips and this one has far stronger fundamentals going its way. Middle east is chaos and only going to get worse this side of new year. The dollar is only ...

Gold

And?

Gold