Finally closed all my shorts. Hate to leave open trades while asleep especially last day of the trading week.
XAU/USD & XAG/USD - Gold & Silver Traders Thread
- #14,404
- Dec 14, 2011 3:21pm Dec 14, 2011 3:21pm
One way to make money on goldhold your short
Good work on the learning you have done recently, I remember not too long ago you were just "buy buy buy", but you have taken in the things that the wonderful teachers here give us/share with us, and you have been big enough to learn and acknowledge your learning - a brave thing to do in public like this!
well done
cath
- #14,405
- Dec 14, 2011 3:25pm Dec 14, 2011 3:25pm
Hi Ravissek
Good work on the learning you have done recently, I remember not too long ago you were just "buy buy buy", but you have taken in the things that the wonderful teachers here give us/share with us, and you have been big enough to learn and acknowledge your learning - a brave thing to do in public like this!
well done
cath
This sells just saves me a lot theese days.
What about you? How's your results?
green pips to you
- #14,406
- Dec 14, 2011 5:41pm Dec 14, 2011 5:41pm
- Joined Nov 2007 | Status: Conscious Incompetence | 3,274 Posts
Don't wish it were easier, wish you were better. ~ Jim Rohn
- #14,408
- Dec 14, 2011 5:57pm Dec 14, 2011 5:57pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
OK: So Gold has Dropped roughly $350 Bucks a Troy Ounce this Month.
3 Months ago (September 2011) it Dropped over $400 Bucks a Troy Ounce.
Here's what that looks like on a Monthly Chart.
PLEASE... Take note of My Buy Limit & SL. There are reasons for both.
I can afford this Trade even I am tottaly wrong.
Here is what it looks like on an H4 TF.
.
I commend all that were Brave Enough to be a Bear. You hopefully banked a slack handfull of Pips. Well done & congrats to all of you But I have a question.
"What is the Highest TF you actually Observe/Absorb?"
I know it looks drasically Short right now & I hope it has just a little more retrace South again to 1,574.11 & then... I'm In on the Long side. Buy Stop Posted in img.
I will Triple my "Usual" 'Initial Entry Lot Size' but, obviously support it with a very tight Stop. {1,562.11 will be Tight enough for me.}
Back in April I posted that I thought Gold could move from 1400 to 1600 by year end. Some laughed. Little did I realize the 1600 would be after a $300.00 pullback from a 1,900 High but I am still 85% a Bull.
Onward & Upward.
B
3 Months ago (September 2011) it Dropped over $400 Bucks a Troy Ounce.
Here's what that looks like on a Monthly Chart.
PLEASE... Take note of My Buy Limit & SL. There are reasons for both.
I can afford this Trade even I am tottaly wrong.
Here is what it looks like on an H4 TF.
I commend all that were Brave Enough to be a Bear. You hopefully banked a slack handfull of Pips. Well done & congrats to all of you But I have a question.
"What is the Highest TF you actually Observe/Absorb?"
I know it looks drasically Short right now & I hope it has just a little more retrace South again to 1,574.11 & then... I'm In on the Long side. Buy Stop Posted in img.
I will Triple my "Usual" 'Initial Entry Lot Size' but, obviously support it with a very tight Stop. {1,562.11 will be Tight enough for me.}
Back in April I posted that I thought Gold could move from 1400 to 1600 by year end. Some laughed. Little did I realize the 1600 would be after a $300.00 pullback from a 1,900 High but I am still 85% a Bull.
Onward & Upward.
B
- #14,409
- Dec 14, 2011 6:03pm Dec 14, 2011 6:03pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
...
Two words: "Bear Trap" before going to 2000+.
I got a question.
This Thread; Your Posts; #'s 14,494 & 14,503
You have Fib Extensions Plotted.
Q: Can (would) you tell me where those FE's are rooted?
I want to check something out.
{Bemac doffs his hat to LasVahGoose as he respectfully retreats & waits, hopefully, for a reply}
B
- #14,410
- Edited 6:26pm Dec 14, 2011 6:11pm | Edited 6:26pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
Gartman is one of the few good ones, even if he is a Canadian , kidding Canukas:
"Buying of that sort should have sent gold prices soaring,” Gartman wrote. “One of the oldest rules of trading is simply this: a market that cannot or does not respond to bullish news is a bearish market not a bullish one.”
And until impulsive up bars with increasing volume happen I will continue to beat the bearish, correction off the highs drum.
, kidding Canukas:"Buying of that sort should have sent gold prices soaring,” Gartman wrote. “One of the oldest rules of trading is simply this: a market that cannot or does not respond to bullish news is a bearish market not a bullish one.”
And until impulsive up bars with increasing volume happen I will continue to beat the bearish, correction off the highs drum.
- #14,411
- Edited 6:29pm Dec 14, 2011 6:14pm | Edited 6:29pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
...
I know it looks drasically Short right now & I hope it has just a little more retrace South again to 1,574.11 & then... I'm In on the Long side. Buy Stop Posted in img.
I will Triple my "Usual" 'Initial Entry Lot Size' but, obviously support it with a very tight Stop. {1,562.11 will be Tight enough for me.}
...
B
Sometimes you just gotta believe.
BUT REMEMBER... I said already... I can handle it if I am Wrong & My SL is already set.
A Merry XMass & Good Cargo To All.
Oh Man... I am getting Waayyy too comfortabe in this Trading routine.
For the first time in the last 15 years or so, I missed a News Release Effect.
"The Hamptons"
Addmitededly the US may have dropped slightly in the "Guiding Light" catagory but they are still well respected around the Globe.
Issue is...
Most of them are already on Xmass vacation & we are dealing with Borgs at The Helm.
"Don't let it get beyond 'x' or 'z'. I'll be back mid to late Jan. btw; Do you like your job?"
True Dat.
If I can scalp a few "P" from my current Long... I'll grabbem. Freshmen/Sophmore's @ The Helm.
B
- #14,412
- Dec 14, 2011 6:16pm Dec 14, 2011 6:16pm
- Joined Nov 2007 | Status: Conscious Incompetence | 3,274 Posts
Hey You!
I got a question.
This Thread; Your Posts; #'s 14,494 & 14,503
You have Fib Extensions Plotted.
Q: Can (would) you tell me where those FE's are rooted?
I want to check something out.
{Bemac doffs his hat to LasVahGoose as he respectfully retreats & waits, hopefully, for a reply}
B
.
Don't wish it were easier, wish you were better. ~ Jim Rohn
- #14,414
- Dec 14, 2011 6:36pm Dec 14, 2011 6:36pm
Gartman is one of the few good ones, even if he is a Canadian
And until impulsive up bars with increasing volume happen I will continue to beat the bearish, correction off the highs drum.
- #14,415
- Dec 14, 2011 6:37pm Dec 14, 2011 6:37pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #14,416
- Dec 14, 2011 6:38pm Dec 14, 2011 6:38pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
- #14,417
- Dec 14, 2011 6:43pm Dec 14, 2011 6:43pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
You've been right so far Sun so keep beating away. Where do you see the end according to your analysis? oh yeah, and I'm a Canuck.
before bear bottom is put in. I'll keep updating but price and time targets aren't clear enough just yet.
- #14,418
- Dec 14, 2011 6:50pm Dec 14, 2011 6:50pm
Indis are from http://www.forexfactory.com/showthread.php?t=288142
PriceAction AHA
II_SupDem
but final close was something different looks like it will go down further.
I'm waiting for good signal. and staying out for now
Life's a bitch....so be a dog and cover it!
- #14,420
- Dec 14, 2011 7:07pm Dec 14, 2011 7:07pm
- Joined Nov 2007 | Status: Conscious Incompetence | 3,274 Posts
Don't wish it were easier, wish you were better. ~ Jim Rohn