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Trading Gold with PA

  • #241
  • Apr 30, 2013 4:16pm Apr 30, 2013 4:16pm
@Greenhaze,
Everything looks complicated before it becomes simple!
Trade the facts, not opinions.
  • #242
  • Apr 30, 2013 4:17pm Apr 30, 2013 4:17pm
Quoting Dadas
{quote} There is loads of explanation on my thread. Takes time to sift through all that!
Thats the problem. Make the simple stuff look terribly complicated!
Its really sad that you have to spam other threads and praise your precious topic.

  • #243
  • Apr 30, 2013 4:28pm Apr 30, 2013 4:28pm
@Greenhaze
Sad are people of your type vulturing other decent people around.
Following them, wherever they go!

I do not need to spam any other threads.

Gumrai is my friend.
I try to keep on topic.

Sorry for the off, Gumrai!

PS.
And I do not go around "10+v Invisible".
I can stand tall and open!
Trade the facts, not opinions.
  • #244
  • Apr 30, 2013 4:50pm Apr 30, 2013 4:50pm
I believe.... prices are manipulated. Gold has never been so costly.. our brains were told that gold price is high but real price of gold is yet around 1200 dollars. In underdeveloped countries you can easily feel how cheep goods are sold on high prices. And this is happening with the gold for long... if prices are really determined by demand and supply... then due to high prices of gold demand of gold has been reduced tremendously. So why Gold has been climbing up? Manipulators did for their sake, and now when they have fulfill their purpose they are not manipulating gold.. so gold is coming back to his real price.
This is just a theory.....
who knows best? no one.
  • #245
  • Apr 30, 2013 4:56pm Apr 30, 2013 4:56pm
Quoting iahmedz
I believe.... prices are manipulated. Gold has never been so costly.. our brains were told that gold price is high but real price of gold is yet around 1200 dollars. In underdeveloped countries you can easily feel how cheep goods are sold on high prices. And this is happening with the gold for long... if prices are really determined by demand and supply... then due to high prices of gold demand of gold has been reduced tremendously. So why Gold has been climbing up? Manipulators did for their sake, and now when they have fulfill their purpose they...
I will tell you "who" knows best!

Mr. Price Action knows best!
Trade the facts, not opinions.
  • #246
  • May 1, 2013 3:00am May 1, 2013 3:00am
Quoting Dadas
PS. And I do not go around "10+v Invisible". I can stand tall and open!
I'll leave that without comment.



It would be nice to see Silver & Gold aproaching the resistance at the same time.

http://screencast.com/t/bGVhgiAi
  • #247
  • May 1, 2013 3:16am May 1, 2013 3:16am
GOLD
I am in short:
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4.png Size: 41 KB


Silver:
It, actually has reached some resistance, just as GOLD.
Attached Image (click to enlarge)
Click to Enlarge Name: xagusdh4.png Size: 48 KB
Trade the facts, not opinions.
  • #248
  • May 1, 2013 3:27am May 1, 2013 3:27am
PS.

GOLD is not at the relative Resistance that Greenhaze is showing on Silver, either.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdweekly.png Size: 65 KB
Trade the facts, not opinions.
  • #249
  • May 1, 2013 3:35am May 1, 2013 3:35am
Quoting Dadas
PS. GOLD is not at the relative Resistance that Greenhaze is showing on Silver, either. {image}
I'm not saying it is Babas. Try harder.
  • #250
  • May 1, 2013 3:43am May 1, 2013 3:43am
Quoting Greenhaze
{quote} I'm not saying it is Babas. Try harder.
Don't waste your breath on him....he's a muppet....can't even read Gumrai's rule "Rules are that no indicators except moving averages are to be used"
Doing what you like is Freedom. Liking what you do is Happiness.
  • #251
  • May 1, 2013 4:10am May 1, 2013 4:10am
Quoting realjumper
{quote} Don't waste your breath on him....he's a muppet....can't even read Gumrai's rule "Rules are that no indicators except moving averages are to be used"
There are no indicators on my charts.
And, you have got Gumrai's rules wrong!

The rules are that there can not be any indicators on the charts.
The only indicator allowed is one moving average.

The indications in the right lower corner are just information
and have nothing to do with any moving averages!
They are information if the PTECZ Candle has appeared on another Tf.

This is not a break of PA rules, because the PTECZ Candle is PA information.
Trade the facts, not opinions.
  • #252
  • May 1, 2013 4:20am May 1, 2013 4:20am
@Gumrai,

Maybe you should modify your rule for this thread.
It seems to be interpreted in the way that "Only Moving Average Indicators are allowed".

I know that your thread is about Trading GOLD with PA.

Others seem to think it is Trading GOLD with PA based on Moving Averages.

This is a Huge misunderstanding, if you ask me!
Trade the facts, not opinions.
  • #253
  • May 1, 2013 6:25am May 1, 2013 6:25am
Quoting Dadas
GOLD I am in short: {image} Silver: It, actually has reached some resistance, just as GOLD. {image}
I can appreciate the reasoning to an extent for going short. After all price was near the top of a range and a short targetting the low of the range can give a decent R:R.
I would appreciate if you could add your interpretation of PA to explain why you decided to go short at this time though.

Other things that have come up in this thread, I will address later.

Gold H1 chart..

I have put a trend line on my chart. Interesting that 2 candles back, price broke this trend line, but was unable to close below it.
The next candle opened on the trend line had a large upper shadow that showed that the bulls tried to take control, but failed. The same candle failed to make a lower low. This indicates that the bears are not so sure.
IF this current candle continues as a bullish candle and can break above that trend line again, then we could have a failed break down.
A failed break often leads to a good move in the opposite direction.
I will wait and see what happens, but I am hoping for a signal to go long with the very recent low as SL and an excellent potential R:R

Attached Image (click to enlarge)
Click to Enlarge Name: gold 1 may.gif Size: 23 KB
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  • #254
  • May 1, 2013 6:38am May 1, 2013 6:38am
And there we go. Another reason not to jump the gun

Attached Image (click to enlarge)
Click to Enlarge Name: gold 1 may 2.gif Size: 23 KB


Time to re-evaluate and see what PA offers.
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  • #255
  • May 1, 2013 6:48am May 1, 2013 6:48am
I moved my TP down, seeing what is going on, and it has been hit.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdm15.png Size: 38 KB

Though, there might be further Bears today.
Trade the facts, not opinions.
  • #256
  • May 1, 2013 6:51am May 1, 2013 6:51am
Quoting realjumper
{quote} Don't waste your breath on him....he's a muppet....can't even read Gumrai's rule "Rules are that no indicators except moving averages are to be used"
Hi RJ, nice to know that you are following this thread

I have to admit that I was a bit vague with the rules and you are absolutely right. Dadas is using indicators on his chart
I don't have a problem with such things as daily ranges because they are informative as opposed to suggestive.
It is totally my fault because I noticed the indicators that Dadas was using and decided that they were acceptable. Sorry about that, I should have made it clear
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  • #257
  • Edited 7:18am May 1, 2013 7:03am | Edited 7:18am
Quoting Gumrai
{quote} I can appreciate the reasoning to an extent for going short. After all price was near the top of a range and a short targetting the low of the range can give a decent R:R. I would appreciate if you could add your interpretation of PA to explain why you decided to go short at this time though.
Like I have said, I look mainly on the H4 charts for PA, considerring higher Tf S/Rs:
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4.png Size: 46 KB

Additionally I take into account the Daily Range
and the GOLD to EURUSD behaviour.

Plus, experience with GOLD trading.

Oh, and the last Long Bulls H4 Candle didn't Break High of Bears
nor Close of the previous Bulls.

PS. The H4 behaviour is also a factor. I mean, the Candle.
I know that this is tricky because of World Time Zones,
but it always works on my charts.
Trade the facts, not opinions.
  • #258
  • May 1, 2013 7:10am May 1, 2013 7:10am
Quoting Gumrai
{quote} Hi RJ, nice to know that you are following this thread I have to admit that I was a bit vague with the rules and you are absolutely right. Dadas is using indicators on his chart I don't have a problem with such things as daily ranges because they are informative as opposed to suggestive. It is totally my fault because I noticed the indicators that Dadas was using and decided that they were acceptable. Sorry about that, I should have made it clear
I pop in from time to time....as I mentioned before, I don't trade gold but knowing what it's doing is important to other FX pairs. My personal thoughts are that candlestick analysis is most reliable when used on H4 and abover charts.....Daily and Weekly charts are really quite good for this type of analysis, and that goes for patterns too. Of course trading those TF's is impracticable for most of us, but the longer term analysis is still useful......valuable even. But it's good to see you having a go at it on smaller TF's.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #259
  • May 1, 2013 7:14am May 1, 2013 7:14am
I see price rejected at the recent low and yes, I am jumping the gun here, so prepared to bail out early

Attached Image (click to enlarge)
Click to Enlarge Name: gold 1 may 3.gif Size: 20 KB
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  • #260
  • May 1, 2013 7:23am May 1, 2013 7:23am
Quoting realjumper
{quote} I pop in from time to time....as I mentioned before, I don't trade gold but knowing what it's doing is important to other FX pairs. My personal thoughts are that candlestick analysis is most reliable when used on H4 and abover charts.....Daily and Weekly charts are really quite good for this type of analysis, and that goes for patterns too. Of course trading those TF's is impracticable for most of us, but the longer term analysis is still useful......valuable even. But it's good to see you having a go at it on smaller TF's.
Gold can be a monster on the lower TF. If you are prepared to trade the lower TF then you have to accept that losses will happen. Just accept the losses and take the wins, when they come which are usually bigger that the losses.
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