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  • #10,721
  • Jun 30, 2014 9:44pm Jun 30, 2014 9:44pm
Quoting ClockTrader
{quote} Instead of fancy charts why not follow seasonal patterns that have sustained for over 30 yrs?
it was my king chart, İ always short it when happens my formation...if you know İ was bull... İ inversed at 1322...
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  • #10,722
  • Jun 30, 2014 9:51pm Jun 30, 2014 9:51pm
I enjoy prototip's formation and I agree with it, I think there's another big sell off impending.Do not see this small move north as anything significant and remember unless your planning on trading the news to shy away from opening any new positions before wednesday/thursday.
  • #10,723
  • Jun 30, 2014 10:12pm Jun 30, 2014 10:12pm
here's the current range it just happens to be slightly upsloping...take profit near the upper range/short to lower range 1336 to 1313 or so...could a possible head n shoulders form at upper range...sure...is there divergence up there, sure...taking profit before big news sure...
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  • #10,724
  • Jun 30, 2014 10:19pm Jun 30, 2014 10:19pm
Could it go lower sure...but this weekly chart looks very bullish to me with a possible higher low in place after the double bottom
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  • #10,725
  • Jun 30, 2014 10:34pm Jun 30, 2014 10:34pm
Tried cleaning this up some so you can see the lines of force and current range..path of price is changing, does it mean we are headed way down ... could just be taking a breather building for the next leg...hope this framework helps show the near term picture some.
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  • #10,726
  • Jun 30, 2014 10:46pm Jun 30, 2014 10:46pm
Everything in the markets are oscillating in a range just have to find the frequency, measure it, project it, then trade the crap out of it...till it shifts, even oil here nice range, just shifted up by half...good trading all
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  • #10,727
  • Jun 30, 2014 10:58pm Jun 30, 2014 10:58pm
Gold is consolidating nicely just under 1330.

To me that's bullish.

I hope the people shorting aren't doing so because CNN, CNBC or Goldman Sachs told them to.
  • #10,728
  • Jun 30, 2014 11:02pm Jun 30, 2014 11:02pm
If we do spike down on news I'll be looking to buy around 1291 I have an area there and it's dead in the middle of prior consolidation
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  • #10,729
  • Jun 30, 2014 11:11pm Jun 30, 2014 11:11pm
Quoting bayfisherman
Tried cleaning this up some so you can see the lines of force and current range..path of price is changing, does it mean we are headed way down ... could just be taking a breather building for the next leg...hope this framework helps show the near term picture some. {image}
Your green box (1312 range) is exacly...the start of my 5th impulse waves 3rd leg up... Now hopefully price does not drop below 1321(the top of the 5th waves first leg); if it does then the start of the 5th impulse wave was false and done all wrong...

I have shifted my sl tps to 1319 now... if we have candle closes above 1330 on the 1 hr chart; I will look to add more longs!

Happy Trading
  • #10,730
  • Edited Jul 1, 2014 3:11am Jun 30, 2014 11:34pm | Edited Jul 1, 2014 3:11am
Quoting acidguy
{quote} Gold is not responding anymore to USA positive news like was doing some weeks ago, we have gotten big Positive number in Industrial Production and Home Sales and yet this pair goes to heaven for some reason i dont get.
It is because in your mind you are giving much more weight to 25% of the information...often ignoring or rather deliberately sidelining other factors...

Just my opinion; and it shouldn't really matter but I think you are more cut out to be an investor as opposed to a trader...

trader's often don't rely on "apparent" logic --- what I have noticed with you is that you try to rationalize everything and get to pent up in your own bias that you stop seeing the broader shorter term picture...Which is why you often find yourself going against the market direction...Traders have to be very quick in changing their opinions/biases....

Your sort of behavior/style/bias is better suited to "investing"

Good luck to you!
  • #10,731
  • Jun 30, 2014 11:40pm Jun 30, 2014 11:40pm
south day.. first rocket coming
  • #10,732
  • Jul 1, 2014 12:03am Jul 1, 2014 12:03am
Buying on dip next week.
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Elliott Wave for optimum entry, exit and risk management of trades
  • #10,733
  • Jul 1, 2014 12:14am Jul 1, 2014 12:14am
recent days technical analysis is works perfectly against news analysis on this yellow metal, that's what i think
  • #10,734
  • Jul 1, 2014 12:23am Jul 1, 2014 12:23am
be patient we'll know true direction by the end of thursday. Longs or shorts at this stage are purely speculative. It can swing either direction this week.
  • #10,735
  • Jul 1, 2014 1:04am Jul 1, 2014 1:04am
I see this moving a bit more towards North again in the next hours. Still bullish. Could we see the 1350 soon?
  • #10,736
  • Jul 1, 2014 1:05am Jul 1, 2014 1:05am
busted it up in the spike.. held the shorts for too long.. saw the spike infront of my very eyes.. still cut a significatnt proportion of shorts near the high.. totally misjudged the importance of 1335.. nd the price dropped before i could cut the same proportions of longs.. resulting in a hit :/ in net longs now.. hoping the level of 1325 or 1322 to sustain.. else i might think to shift to shorts in around 1315
  • #10,737
  • Jul 1, 2014 1:08am Jul 1, 2014 1:08am
Quoting MikiFX
I see this moving a bit more towards North again in the next hours. Still bullish. Could we see the 1350 soon?

chances are there.. but we might have to wait for the N.Y session to see it happen.. hope the PMI supports the upward move.. we might even get to see 1355
  • #10,738
  • Jul 1, 2014 2:27am Jul 1, 2014 2:27am
I think buy 1322 S/L 1318 T/P 1355 and 1368.
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  • #10,739
  • Jul 1, 2014 2:35am Jul 1, 2014 2:35am
before going up 1335+, gold should go down to 1290~ , soon will be a big down movement .
  • #10,740
  • Jul 1, 2014 2:36am Jul 1, 2014 2:36am
Quoting waleed.khan
{quote} It is because in your mind you are giving much more weight to 25% of the information...often ignoring or rather deliberately sidelining other factors... Just my opinion; and it shouldn't really matter but I think you are more cut out to be an investor as opposed to a trader... trader's often don't rely on logic --- what I have noticed with you is that you try to rationalize everything and get to pent up in your own bias that you stop seeing the broader shorter term picture...Which is why you often find yourself going against the market direction...Traders...
Well said mate, I think everyone should read this once.
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