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Gold Discussion

  • #881
  • Dec 15, 2009 8:46am Dec 15, 2009 8:46am
Quoting Bernanke_Sr
i am unhappy with the current bullish movement.
I Am still holding my shorts though as i still believe my new 4H bar which formed 45 mins ago will be bearish in the coming hours.

bearish?

have you had a look at the daily chart?

Instead of the 5 minutes....this is crazy, look:
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  • #882
  • Dec 15, 2009 9:11am Dec 15, 2009 9:11am
yeah the last hour was crazy but as long as we are below 1130 for today than we are bearish overall

true that last 1 hour was a bullish as last 15 hours was bearish.
  • #883
  • Dec 15, 2009 9:21am Dec 15, 2009 9:21am
Quoting Bernanke_Sr
yeah the last hour was crazy but as long as we are below 1130 for today than we are bearish overall

true that last 1 hour was a bullish as last 15 hours was bearish.

on the 1 hour time frame its a strong long 1127 now
  • #884
  • Dec 15, 2009 9:40am Dec 15, 2009 9:40am
Quoting The Jackal
on the 1 hour time frame its a strong long 1127 now
i was afraid that 1126.50 would be breached and it has. damn. TIC long term purchases did skyrocketed gold.
  • #885
  • Dec 15, 2009 10:58am Dec 15, 2009 10:58am
they are doing crazy things, have no clue so I close everything and wait.
  • #886
  • Dec 15, 2009 1:28pm Dec 15, 2009 1:28pm
Quoting The Jackal
if anyone can explain me the logic in the white long candle just after breaking the trendline on the 1 minute chart I`d appreciate it......this is driving me insane, I can`t find an entry point.
Sorry my friend, aside from the general fact that markets are irrational, trendlines on M1 charts don't mean a whole lot. Easily made and easily broken.
  • #887
  • Dec 15, 2009 8:11pm Dec 15, 2009 8:11pm
Quoting Low
Sorry my friend, aside from the general fact that markets are irrational, trendlines on M1 charts don't mean a whole lot. Easily made and easily broken.

agreed, so what time frame would be the most reliable for Gold?

I look at:

daily
1 hour
5 min
1 min

Cheers
  • #888
  • Dec 15, 2009 10:44pm Dec 15, 2009 10:44pm
Quoting The Jackal
agreed, so what time frame would be the most reliable for Gold?

I look at:

daily
1 hour
5 min
1 min

Cheers
The thing about timeframes is, you have to experiment with them to find out which one's you're most comfortable with, and which one's you're the most profitable with, and they may not be the same.

I do like the fact that you used the word "reliable" because I look for information on direction on the weekly, then look for entries on the daily, 4H, and sometimes......the 1H. Trouble is, entry signals on the H1 are not as reliable as the H4, and those are not as reliable as the daily and so on. The smaller TF's are used to fine tune an entry to get smaller stop size/bigger position size, but the price action on smaller TF's can just as easily be violated as it can follow-through.

If you haven't already looked, check out the James16 chart thread to get an idea about what I'm talking about. I also recommend Jacko's thread, and personally subscribe to Clockwork's method outlined in the silent service thread.

That's probably a good start.
  • #889
  • Dec 16, 2009 2:57am Dec 16, 2009 2:57am
Sold gold. I am expecting a huge fall this week and the coming week. Lets see.
Above 1130 i might switch for long. I believe we might be in the beginning of a medium-term and long-term downtrend.
  • #890
  • Dec 16, 2009 3:15am Dec 16, 2009 3:15am
Quoting Bernanke_Sr
Sold gold. I am expecting a huge fall this week and the coming week. Lets see.
Above 1130 i might switch for long. I believe we might be in the beginning of a medium-term and long-term downtrend.
target 1100 next psych level and then trail ur stop loss
  • #891
  • Dec 16, 2009 6:11am Dec 16, 2009 6:11am
Quoting Low
The thing about timeframes is, you have to experiment with them to find out which one's you're most comfortable with, and which one's you're the most profitable with, and they may not be the same.

I do like the fact that you used the word "reliable" because I look for information on direction on the weekly, then look for entries on the daily, 4H, and sometimes......the 1H. Trouble is, entry signals on the H1 are not as reliable as the H4, and those are not as reliable as the daily and so on. The smaller TF's are used to fine tune an entry to...
Thank you, do you have link for those threads? I`m new to this site and I just started on Gold in this forum without looking anything else.

Cheers
  • #892
  • Dec 16, 2009 6:16am Dec 16, 2009 6:16am
Quoting Bernanke_Sr
Sold gold. I am expecting a huge fall this week and the coming week. Lets see.
Above 1130 i might switch for long. I believe we might be in the beginning of a medium-term and long-term downtrend.
ah that`s killing me as on another forum an experienced trader showed a few charts pointing the fact it seems we are going up.

the daily chart keeps looking that way.

Care to post a chart showing WHY it should go down?
  • #893
  • Dec 16, 2009 11:39am Dec 16, 2009 11:39am
Quoting The Jackal
Thank you, do you have link for those threads? I`m new to this site and I just started on Gold in this forum without looking anything else.

Cheers

Jacko: http://www.forexfactory.com/showthread.php?t=27286

J16: http://www.forexfactory.com/showthread.php?t=2331

Silent Service: http://www.forexfactory.com/showthread.php?t=155431
  • #894
  • Dec 16, 2009 1:06pm Dec 16, 2009 1:06pm
Quoting Low
Jacko: http://www.forexfactory.com/showthread.php?t=27286

J16: http://www.forexfactory.com/showthread.php?t=2331

Silent Service: http://www.forexfactory.com/showthread.php?t=155431

thank you very much!
  • #895
  • Dec 16, 2009 4:16pm Dec 16, 2009 4:16pm
Quoting bksujal
target 1100 next psych level and then trail ur stop loss
turned to long since 1131
my losses from shorting 1129 has already been covered. This beast can now skyrocket for all i care
  • #896
  • Dec 16, 2009 6:45pm Dec 16, 2009 6:45pm
Quoting The Jackal
ah that`s killing me as on another forum an experienced trader showed a few charts pointing the fact it seems we are going up.

the daily chart keeps looking that way.

Care to post a chart showing WHY it should go down?

now do not get me wrong .. i am long gold right now , but am closing on next test 1150 and looking for a sell

charts do not lie and DX says the usd is going to kick some serious but .. plot volumeo n a weekly chart

the move in goldo n 4 hour has been on reducing bear div on volume....

1150 could be the sell zone...

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  • #897
  • Dec 17, 2009 10:13am Dec 17, 2009 10:13am
hey guys i've been watch both gold and cash4gold stock(mfgd) but i cant get the pattern. What is the pattern is it when gold drops the stock goes up or do both the stock and gold rise at th same time?
  • #898
  • Dec 17, 2009 6:10pm Dec 17, 2009 6:10pm
Quoting youngin'
hey guys i've been watch both gold and cash4gold stock(mfgd) but i cant get the pattern. What is the pattern is it when gold drops the stock goes up or do both the stock and gold rise at th same time?
Stocks and gold have been mostly-positively correlated for most of the year, and the dollar vs gold and equities mostly-negatively correlated (-0.5).

But if there is a true pattern (the kind you can exploit) it won't last forever, nothing does.
  • #899
  • Dec 19, 2009 3:57am Dec 19, 2009 3:57am
now at 1100 and lower median line parallel, it showed some if little respect thus far

still making LHs, LLs inside the downward channel
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  • #900
  • Dec 21, 2009 6:58pm Dec 21, 2009 6:58pm
Just My View
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