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Only Gold!

  • #441
  • Jul 8, 2013 1:38am Jul 8, 2013 1:38am
Quoting ClockTrader
Few Rules: No Selling No Jacking or Fights or blame games Only Neutral sharing of your views & positions if you feel like. Please publish chart / theory to support your call / view. Please share only GOLD related news, views, charts & positions etc. I take festivals of India as entry points & Golden Seasons, as proven on Page 15 of this thread. Dear Rookies, no noise please. No offense to anyone Hi there folks, My primary interest is in Gold only, I like swing trades & long term long moves in Gold. Unfortunately, there aren't many threads dedicated...
Euro looks like it's going somewhere.. what do you think guys?
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The best indicator is price.
  • #442
  • Jul 8, 2013 1:40am Jul 8, 2013 1:40am
Quoting scfx
{quote} Euro looks like it's going somewhere.. what do you think guys? {image}
According to European as well as US fundamentals, nowhere but down.
  • #443
  • Jul 8, 2013 2:02am Jul 8, 2013 2:02am
Quoting backinblackl
{quote} Once it broke the 1620 level , the 23.6 on fibo, I knew the bubble has burst and it's all going to be downhill from then on. I shd have said I was bearish because I wasn't selling it all this time. Only started putting in bigger contract sizes in the early May when it again broke under 38.2 when the news of Soros selling reached me too. I only presumed you lost a lot of money on this and you obviously would have if you were trading. I didn't read your theory on page 15, but you should really consider carefully your long position on this...
I come from a democratic country & I would not discriminate anyone on the basis of religion or caste / creed. Everyone is free to follow his passion. We take pride in buying Gold, as much as we can. This is what we (Hindus) are taught. This is what our religion teaches us. No offence to anyone.

No doubt I'm here to make money, but on top of that buying Gold is also pride & honour for us. We consume 1/3 of total global Gold production. Nobody gets crazier than us when it comes to buying Gold. I used to play (buy) without SL, now I use SL because people here advise me to. This is all the care I can put into my longs.
Hello World!
  • #444
  • Jul 8, 2013 2:32am Jul 8, 2013 2:32am
I'm an Atheist who feels discriminated against most of the time in my country, heh. I must say though that I totally forgot this fact about Hindus and so I have to apologize if I offended you in any way, it was not my intention.
There's a way around this though. Just buy with fractional lots for now and add bigger contract sizes at 800 xauusd, or if you see *weeks worth of bullish news and fundamentals* for Gold from now on. The bottom may be at 1150, but I really doubt it - ALWAYS Can BE WRONG btw

Best of luck!
  • #445
  • Jul 8, 2013 2:42am Jul 8, 2013 2:42am
I didn't feel offended in any way, its kooo mate. BTW, I'm playing with very light. I hate to see Gold falling, coz, no matter what, it'll bring my equity down.

I just took one short @ 1225, SL @ 1235 against 9 longs that I'm holding. I usually would never post intraday scalps, just thought maybe I should share these sometimes.
Hello World!
  • #446
  • Jul 8, 2013 3:52am Jul 8, 2013 3:52am
this is how I scalp gold and it works nicely. You may want to give it a try. I would look to sell at 1207.60 and then 1180.

Sell every new low with $3 stop and take as much pl as you can.

More methods, better
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  • #447
  • Jul 8, 2013 4:03am Jul 8, 2013 4:03am
Quoting seaman2
this is how I scalp gold and it works nicely. You may want to give it a try. I would look to sell at 1207.60 and then 1180. Sell every new low with $3 stop and take as much pl as you can. More methods, better {image}
Yea, I remember you sharing your scalping method earlier, sell at new low with tight SL, feels like sliding or water surfing. This time you've posted a chart.
Hello World!
  • #448
  • Jul 8, 2013 4:03am Jul 8, 2013 4:03am
Nice strategy! While, is there any other place you place a order? otherwise you are very patient. BTW, is anybody trading on 15m?
  • #449
  • Jul 8, 2013 4:42am Jul 8, 2013 4:42am
Hey Clock Trader and other Gold lovers, seems like the downtrend got exhausted last week, but a strong resistance off 1250 followed by a strong sell off on Friday may prove otherwise.
I like reading the thread but don't really think that I will be buying Gold any time soon. But selling it...heck yeah!
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Danny
  • #450
  • Jul 8, 2013 4:46am Jul 8, 2013 4:46am
Quoting Danny Maina
Hey Clock Trader and other Gold lovers, seems like the downtrend got exhausted last week, but a strong resistance off 1250 followed by a strong sell off on Friday may prove otherwise. I like reading the thread but don't really think that I will be buying Gold any time soon. But selling it...heck yeah! {image} Danny

Nice Trade Danny. Your target is much more realistic. Try below up to 1000
  • #451
  • Jul 8, 2013 5:13am Jul 8, 2013 5:13am
Quoting danieltsui
Nice strategy! While, is there any other place you place a order? otherwise you are very patient. BTW, is anybody trading on 15m?

I am not that patient as I miss most signals. but if price is close and I am available, follow closely.

This is the only scalping style I do and sometimes I sell earlier, depending on mood of the market. Although looks simple, one needs to know when to use this method. This is where trading experience comes handy.

it can be bumpy but one can scale up considerably, that's why I like it.
  • #452
  • Jul 8, 2013 7:03am Jul 8, 2013 7:03am
Quoting ClockTrader
I didn't feel offended in any way, its kooo mate. BTW, I'm playing with very light. I hate to see Gold falling, coz, no matter what, it'll bring my equity down. I just took one short @ 1225, SL @ 1235 against 9 longs that I'm holding. I usually would never post intraday scalps, just thought maybe I should share these sometimes.
Short SL @ 1235 hit.

went short again @1233, SL @1245, this would be last & I hope it goes down for several days so that I can buy more.

Quoting Danny Maina
Hey Clock Trader and other Gold lovers, seems like the downtrend got exhausted last week, but a strong resistance off 1250 followed by a strong sell off on Friday may prove otherwise. I like reading the thread but don't really think that I will be buying Gold any time soon. But selling it...heck yeah! {image} Danny
Any person reading my thread need not follow my strategy. Its way too different, my fundamentals are completely different from any average trader. Page 15 that I'm following currently is only for long term investors.

edit* = long term traders = long term investors
Hello World!
  • #453
  • Jul 8, 2013 7:07am Jul 8, 2013 7:07am
I'm looking at the chart & feeling over worried, its been climbing all the past 6-8 hrs. Even I wish it comes down today or later maybe, heck, I only got 9 longs so far. That would be way too little :-(
Hello World!
  • #454
  • Jul 8, 2013 7:14am Jul 8, 2013 7:14am
Quoting seaman2
{quote} I am not that patient as I miss most signals. but if price is close and I am available, follow closely. This is the only scalping style I do and sometimes I sell earlier, depending on mood of the market. Although looks simple, one needs to know when to use this method. This is where trading experience comes handy. it can be bumpy but one can scale up considerably, that's why I like it.
I think you should learn some other ways to trade gold for following two reasons:
1/ The sell-at-new-low method is profitable at a downtrend market, but unsave when the market is bullish.
2/ The available chance should be far from each other, that makes your profit limited.
  • #455
  • Jul 8, 2013 7:19am Jul 8, 2013 7:19am
That is my analysis

Last friday down exactly fib 11.5% exactly what happen in 22 may afterward swings high until Fib 56% before reversal trend. Do make stop in Fib 38.5%

from my point view we can still take long around 1222-1228 with first target price 1265-1270 second target price 1290-1298
High resistance come in 1300 might reverse or we can do sell limit anything above that
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  • #456
  • Jul 8, 2013 7:23am Jul 8, 2013 7:23am
Quoting ClockTrader
{quote} Short SL @ 1235 hit. went short again @1233, SL @1245, this would be last & I hope it goes down for several days so that I can buy more. {quote} Any person reading my thread need not follow my strategy. Its way too different, my fundamentals are completely different from any average trader. Page 15 that I'm following currently is only for long term investors. edit* = long term traders = long term investors
Just closed the short I opened a while back. I'll just buy more when it comes down, I just hope it comes down soon.
Hello World!
  • #457
  • Jul 8, 2013 7:26am Jul 8, 2013 7:26am
Quoting hadesdmc
That is my analysis Last friday down exactly fib 11.5% exactly what happen in 22 may afterward swings high until Fib 56% before reversal trend. Do make stop in Fib 38.5% from my point view we can still take long around 1222-1228 with first target price 1265-1270 second target price 1290-1298 High resistance come in 1300 might reverse or we can do sell limit anything above that {image}
The downtrend maybe over. But, its supposed to come down for a while. Not only coz I gota buy more, but, it must.
Hello World!
  • #458
  • Jul 8, 2013 7:28am Jul 8, 2013 7:28am
Quoting ClockTrader
{quote} The downtrend maybe over. But, its supposed to come down for a while. Not only coz I gota buy more, but, it must.
agree. and as a proof, i expect to see a bullish week.
  • #459
  • Jul 8, 2013 7:33am Jul 8, 2013 7:33am
Quoting ClockTrader
{quote} Short SL @ 1235 hit. went short again @1233
I'm not big fan of SL nor the fx expert but I believe that when SL is hit one should go for a walk and re-consider his/her positions. Opening next position just when SL was hit doesn't make sens to me.
  • #460
  • Jul 8, 2013 7:39am Jul 8, 2013 7:39am
Gold seems to reverse pretty good. All indicators I use say that only. It is not often that all my indicators point equally.

As you can see in the image below, fib 61.8 (1235.76) was almost last hour's high and this hour also it is going strongly over that fib. The next fib is at 1252. Anybody here believe that it'll reach that target in coming hours?

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