Disliked{quote} I actually like renko charts a lot for system building. They're great for trend following since they won't result in bad trades during trendless periods.Ignored
They help you ignore daily noise and gives you a clear view.
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GoldenEuro Cross (XAU/EUR) GoldenAussi Cross (XAU/AUD) 51 replies
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Disliked{quote} I actually like renko charts a lot for system building. They're great for trend following since they won't result in bad trades during trendless periods.Ignored
Disliked{quote} It's too early I think.. hourly close below daily trendline may get price further downIgnored
Disliked{quote} So Long as that Daily support holds and is still in play at 1485 Morning traders. H1:Flipped bearish H4: still in bullish territory D1 still bullish.... H1: sell zone: 1510.39 - 1515.82 H4:buy zone: 1515.11- 1517.07 D1 buy zone: 1502.82 - 1509.14 Price "fell off" of that right hand shoulder level we marked out yesterday....the first tell tale signs of a drop lower was the inability to break higher than the 1533.88 level on an hourly closing basis....the drop lower produced minor buy scalp opportunities with prices continuing to drop but...Ignored
Disliked{quote} Do you think it may engulf last day bear? If it doesn't then the buying area 1515-1520 may turn into selling area. Need to look candle pattern on that area if price reached there..Ignored
Disliked{quote} I got a bit of a wait and see approach with that one, first thing of interest becomes what the big boys do....then it becomes what PA is doing when it gets to certain level, then ill look for the daily close and see where that is in the greater scheme of things.....Yesterdays PA followed by the daily close inside of that 1500 and near some weekly levels shows bulls still have some interest in this thing, i think Tush mentioned this area too around that 1500-1505 handle as an area of interest for some long term buyers...so e wait and see...Ignored
Disliked{quote} I think, we have to get clear idea from today's GDP numbers and Trump's impeachment process. It looks its gathering serious momentum. These two points may bring the PA down bellow 1500 today and tomorrow. I had one long from 1502ish to 1505 yesterday, but was not comfortable. I will do some chart analysis tonight and post.Ignored
DislikedAnyone in this group keep an eye on Daily inventories at LME or CME. This is something I never introduced in my trading plan. Any thoughts and useful insight will help!!Ignored
DislikedAnyone in this group keep an eye on Daily inventories at LME or CME. This is something I never introduced in my trading plan. Any thoughts and useful insight will help!!Ignored
This was a very good read:
- The most important takeaway was this excerpt:
This is long but ultimately what made me respect the data as having potential impact:
- This one shined some light on the LME/SHFE relationship and why we get big moves at the SHFE open.
- This quote is important to understand how the Chinese attempt to arb physicals when spreads between physical and futures tighten. Basically, if spot ever exceeds futures (the futures price after funding and storage costs are removed) Chinese traders are in the best position to exploit that inefficiency. It has to do with the LME settlement prices versus the SHFE playing a more important role in Copper. I wish I could say I fully understood it. Also, somehow the HIBOR is involved. Here's a good quote from the pdf: "The spread almost never exceeds 0, as expected; otherwise this would represent an arbitrage opportunity, obtained by purchasing the spot asset and simultaneously selling a 3 month future, paying funding and storage costs for 3 months, and delivering the metal to the futures counterparty after 3 months."
The other pdf that I found informative was this one:
At a certain point I stopped trying to wrap my head around it because it wasn't a trade I could partake in. Additionally, it didn't impact my trading enough to warrant investing the time. Although I am all ears if anybody has insight on this stuff.
Disliked{quote} This was hours and hours of research, so I'll do my best in getting to the points without leaving anything out. The main points as I remember them: LME inventories has the potential for impact, and possibly SHFE inventories to a lesser extent. It's uncommon that it's a big impact. The impact the inventory data has affects spot prices more than it does the futures prices. Precious metals really aren't driven by supply fluctuations. It's base metals that would be in focus with inventory data (due to utility, demand, consumption, etc) I conducted...Ignored
DislikedWhat time does Donald Trump wake up? I wanna set my my alarm clock accordingly, need to be up when he wakes up....bit subdued again this morningIgnored
Disliked{quote} Good idea!!1 in my early days of trading , I used to check traffic on gmap around CME in Chicago and correlated it to PA!!!!Ignored