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  • #11,341
  • Jul 10, 2014 8:24am Jul 10, 2014 8:24am
Quoting samalmoore
{quote} S&P 500 opens trading at 14:30 (BST), I find that there is usually some good movement during the opening hour
Cool will look out for that
  • #11,342
  • Jul 10, 2014 8:26am Jul 10, 2014 8:26am
Quoting sasastephe
Can it go to 1350 today??
It can go well over that and even 1370 is possible to be touched, but will it, is a different story, anyway for me gold is bullish so further rise is very much expected maybe with a small correction which will be a good buying opportunity
  • #11,343
  • Jul 10, 2014 8:31am Jul 10, 2014 8:31am
I wonder how one is supposed to make a profit here! The market twists, turns, ascends and descends in rapidity. You cannot get a handle on direction. Today the Ujemlloyment Claiks was good for USD to appreciate yet the first reaction was for gold to appreciate and the USD to fall. Just pathetic! Earlier today we had a 500 pip surge upwards for no apparent reason. Unemployment claims were still hours away from being announced, yet we still had this powerful surge. All this makes trading so difficult to the point where you just want to throw in the towel.
  • #11,344
  • Jul 10, 2014 8:33am Jul 10, 2014 8:33am
So far the power hour is more like the dour hour!!!
  • #11,345
  • Jul 10, 2014 8:35am Jul 10, 2014 8:35am
Quoting Steve J
I wonder how one is supposed to make a profit here! The market twists, turns, ascends and descends in rapidity. You cannot get a handle on direction. Today the Ujemlloyment Claiks was good for USD to appreciate yet the first reaction was for gold to appreciate and the USD to fall. Just pathetic! Earlier today we had a 500 pip surge upwards for no apparent reason. Unemployment claims were still hours away from being announced, yet we still had this powerful surge. All this makes trading so difficult to the point where you just want to throw in the...

Don't lose hope man...

Keep trying... try different things out...and most importantly keep learning

*Every mistake/error will lead you into becoming a consistent and profitable trader* This is not a get rich quick enterprise!

losing money is the tuition fee for graduating as a trader!
  • #11,346
  • Jul 10, 2014 8:37am Jul 10, 2014 8:37am
Quoting waleed.khan
{quote} Don't lose hope man... Keep trying... try different things out...and most importantly keep learning *Every mistake/error will lead you into becoming a consistent and profitable trader* This is not a get rich quick enterprise! losing money is the tuition fee for graduating as a trader!
Well said!
  • #11,347
  • Jul 10, 2014 8:43am Jul 10, 2014 8:43am
Quoting Steve J
The market twists, turns, ascends and descends in rapidity.
I think that is a blessing!
  • #11,348
  • Jul 10, 2014 8:53am Jul 10, 2014 8:53am
Quoting ClockTrader
These Bulls are riding on the shorts opened by Indians, usually they (we) don't use SLs. Entire India sold in sh!tloads today and the results are on the screens.
  • #11,349
  • Jul 10, 2014 8:57am Jul 10, 2014 8:57am
Well, things are unclear for the moment for me. All Fib setups are not very convenient atm. However couple of things are more than likely:

a) The market is bullish for 6 weekly candles, that is almost a record and it makes me worry as corrections are part of the market cycles no matter what, it will happen if not next week then the week after. Correction size will depend on the market buyers size, the more buyers the bigger correction that will kill more longs.

b) Ichimoku cloud is one of the most powerful tools I have ever learnt and the daily setup shows big bullish signs in the upcoming weeks in general. Ofc we know that already from CT analysis for the gold seasons but how the price is acting, 1400 is not far at all.

I look back at the charts in April, Thie true resistance is a cloud kinda from 1327 all the way to 1350. Price kept ranging for over 12 days in that area, If buyers and sellers are afraid to enter the market, we may keep ranging here again for a while unless the big boys move the market unexpectedly.

Last thing S&P has fallen down badly as a correction. That market can grab lots of liquidity where every one will try to buy from low, thus making the gold consolidate and range one more time which will delay the correction and allow buyers and sellers to enter the market gradually for the next big move.

As it is uncertain for me, I have gone for buy and sell scalping at the same time, Price will range and I think in this Critical area, we will visit the same level many times on short time frames.

P.S. I have started my live trading only 3 months ago, so please don't let my analysis distract your view.
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  • #11,350
  • Jul 10, 2014 9:17am Jul 10, 2014 9:17am
Quoting ShadyAhmed
Ichimoku cloud is one of the most powerful tools I have ever learnt I have started my live trading only 3 months ago, so please don't let my analysis distract your view. {image}

how long have you been trading demo then...if live is only 3 months young?
fokyou forexfactory
  • #11,351
  • Jul 10, 2014 9:19am Jul 10, 2014 9:19am
Quoting ClockTrader
This is the status of my latest positions, hedged 4 longs @ 1341 Applied SL on the top layer of longs. {image}
CT, I'm fascinated by your hedges. That makes me believe that you understand them very well. Any resources you can guide me to read about successful hedging. Would be grateful to you, thanks.
Gagz
  • #11,352
  • Jul 10, 2014 9:20am Jul 10, 2014 9:20am
An interesting picture...
http://waitbutwhy.com/wp-content/upl...be-pyramid.jpg
  • #11,353
  • Jul 10, 2014 9:21am Jul 10, 2014 9:21am
I can feel a resistance point more at 1336 tan 1330. Then upwards again.
  • #11,354
  • Jul 10, 2014 9:28am Jul 10, 2014 9:28am
Quoting MikiFX
I can feel a resistance point more at 1336 tan 1330. Then upwards again.
Why 1336?
  • #11,355
  • Jul 10, 2014 9:30am Jul 10, 2014 9:30am
Quoting DNTme
{quote} how long have you been trading demo then...if live is only 3 months young?
Around 6 months only on Demos. I had to move to a live accounts to see the real deal, loose money and learn a bit if I can from losses, And as how I see it, those losses were the best thing happened so far, I hope I will be able to profit consistently for 1-2 years to gain confidence !. Wish me luck
  • #11,356
  • Jul 10, 2014 9:32am Jul 10, 2014 9:32am
Quoting samalmoore
{quote} Why 1336?
Ichimoku on 15 min shows Resistance there, however it might only bounce up a bit as it is not greatly strong and then continue downwards. We will see
  • #11,357
  • Jul 10, 2014 9:32am Jul 10, 2014 9:32am
Israel Mobilizes 20,000 Troops for Possible Gaza Invasion
http://www.bloomberg.com/news/2014-0...ckets-fly.html
  • #11,358
  • Jul 10, 2014 9:34am Jul 10, 2014 9:34am
Quoting Steve J
I wonder how one is supposed to make a profit here! The market twists, turns, ascends and descends in rapidity. You cannot get a handle on direction. Today the Ujemlloyment Claiks was good for USD to appreciate yet the first reaction was for gold to appreciate and the USD to fall. Just pathetic! Earlier today we had a 500 pip surge upwards for no apparent reason. Unemployment claims were still hours away from being announced, yet we still had this powerful surge. All this makes trading so difficult to the point where you just want to throw in the...
Very few people make a profit consistently.
  • #11,359
  • Jul 10, 2014 9:36am Jul 10, 2014 9:36am
Quoting ShadyAhmed
{quote} Ichimoku on 15 min shows Resistance there, however it might only bounce up a bit as it is not greatly strong and then continue downwards. We will see
From my (limited) understanding of Ichimoku, a flat line (as it is in this case) is more likely to be broken. I feel quite confident that we will revisit last week's high(+-1333) and hopefully shoot up again after that...

Having said that, I am often wrong so good luck, I hope it works out for you!
  • #11,360
  • Jul 10, 2014 9:41am Jul 10, 2014 9:41am
Nice to see Mr Ichimoku supports my view but I'm afraid I don't have the pleasure! No, there's a slope trend line passing through that point which I see as a support... but I may be wrong of course
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