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  • #25,521
  • Sep 20, 2013 2:09pm Sep 20, 2013 2:09pm
Quoting TheArcher
{quote} if we have capital A,B,C , in the channel, then where are 1,2,3,4,5 ? can u pls post the chart with the above complete cycle ? thanks ?
ABC is 4th wave on weekly chart. But actually you got me thinking that is might only be wave A (in 3 waves) with B & C yet to come. Next week or two should decide.

I believe my daily count is correct but there will be almost no doubt if Wednesday's low gets taken soon.

And if that does keep in mind my daily chart is showing most likely a minor wave 5 of the major wave 5 projected on weekly chart. And oh boy again if I am right note the approx. fib zones (subject to possible adjustment later of course) :

1151.-1112. minimum, 1037.-936. typical and 791. maximum

A long way away and maybe never reached even the minimum so bulls don't get upset.
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  • #25,522
  • Sep 20, 2013 2:12pm Sep 20, 2013 2:12pm
classic divergence played well !!
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  • #25,523
  • Sep 20, 2013 2:15pm Sep 20, 2013 2:15pm
Quoting SunTrader
{quote} As opposed to Goldman left wing-nutz Jon Corzine, Robert Rubin, Gregory Craig former Obama White House Council now at Goldie, Gary Gensler Obama's head of CFTC and on and on and on. Both parties have gone to the Goldman well repeatedly for appointments, or should I say were told to do so. But this is another distraction from what really matters - to traders. It has always been done this way and always will, so why not leave it to Fox and MSDNC babbling heads to hash it out.
Both the American Republican and Democratic parties are right-of-centre. Corzine could be considered left-wing only in a world where the right is so far gone that sanely demanding a 1% tax increase to balance the budget is considered heretical. At best he's centrist. Regardless, I would counter that an understanding that journalists no longer practice journalism and will unquestioningly print literally anything thus providing an air of factuality (or "truthiness" for fans of Colbert) is essential to traders, not a distraction.

How many people in this forum alone were so overwhelmed by the recent nonsensical barrage of "the FED will taper" news from every source that they actually believed it, or worse, based their trades on it? Most informed people know that Goldman Sachs controls the central banks and therefore are "in the know", but they need to understand that just because they have inside information doesn't mean they are sharing it when they speak. They may manipulate the markets but only by talking about it do we prevent them from manipulating our critical thinking as well.

I subscribe to a lot of news feeds and I don't have time to read everything, so when I'm only interested in technical opinions I only look at posts with charts, subsequently I don't find these sorts of posts overly distracting. I appreciate your position that you think these discussions are a waste of time, but just do as I do and scroll past them.
You can always make money tomorrow provided you don't lose it today.
  • #25,524
  • Sep 20, 2013 2:18pm Sep 20, 2013 2:18pm
Quoting TheArcher
classic divergence played well !! {image}
Good point and well illustrated, but I would like to add that it's the breach of RSI 50 where the pull-back occurs. When divergence happens and 50 holds, the opposite happens to the price action.
You can always make money tomorrow provided you don't lose it today.
  • #25,525
  • Sep 20, 2013 2:21pm Sep 20, 2013 2:21pm
Quoting TheArcher
{quote} not trying to be funny here , but why not like this scenario ... with "no tapering" factored in ...? {image}
I think yours is the more plausible head and shoulders pattern of the two options.
You can always make money tomorrow provided you don't lose it today.
  • #25,526
  • Sep 20, 2013 2:22pm Sep 20, 2013 2:22pm
Take from it what you will.
Posted it because I have never seen this chart before, figured others may not have either

From this presentation --
Inserted Video


real estate vs gold logarithmic
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Be hopeful in a winning position, and fearful in a losing position.
  • #25,527
  • Sep 20, 2013 2:23pm Sep 20, 2013 2:23pm
Quoting KADC
{quote} Good point and well illustrated, but I would like to add that it's the breach of RSI 50 where the pull-back occurs. When divergence happens and 50 holds, the opposite happens to the price action.

thanks for the fine print ! will impress in my mind !
  • #25,528
  • Sep 20, 2013 2:27pm Sep 20, 2013 2:27pm
more evidence why silver is the better metal to long.
its a vastly smaller market, 1 billionaire can buy all the inventory in the world. its incredible.
not even the 400 something PUBLIC billionaires in the world can buy the worlds gold inventory.


and yes i know that Bill Gates is not the richest.
i know that the super class does not want their net worth exposed to the public, because it is too great.


but anyway,
smaller markets have larger room to grow.

also the fundamentals greatly favor silver > gold.
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Be hopeful in a winning position, and fearful in a losing position.
  • #25,529
  • Sep 20, 2013 2:30pm Sep 20, 2013 2:30pm
hurray ! got a vouch from XTrade for consistent (and valuable and constructive ? *funnyface* ) posting in his thread !

not that it matters much to me , with or without it , i post for the love of the game !!

anyway , nice to get recognised and thanks for the vouch , XTrade !!
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  • #25,530
  • Sep 20, 2013 2:34pm Sep 20, 2013 2:34pm
Quoting TheArcher
classic divergence played well !! {image}
exactly

people who don't understand this would have bought the top, instead of waiting for a pullback


its a great way to shake out the majority of weak fundamental hands (who lack technical skill and simply bought the news) who bought the top.
Be hopeful in a winning position, and fearful in a losing position.
  • #25,531
  • Sep 20, 2013 2:37pm Sep 20, 2013 2:37pm
Quoting JayPipin
KADC thats hilarious... looks like you summed it all up for us. So im gonna put my pc off seems like the safest thing to do, then come back peaking through my fingers
Oddly enough everything transpired just as I predicted except that it took an extra day to erase the gains. Anyone who took the last two days off would find that gold made a moderate $10 gain from Tuesday and wonder what all the hubbub was about.
You can always make money tomorrow provided you don't lose it today.
  • #25,532
  • Sep 20, 2013 2:40pm Sep 20, 2013 2:40pm
Quoting Rag2RichesFX
Take from it what you will. Posted it because I have never seen this chart before, figured others may not have either From this presentation real estate vs gold logarithmic {image}
I posted this video a few days ago, but I think you did everyone a service by posting that chart and saving them from watching him speak for a half hour.
You can always make money tomorrow provided you don't lose it today.
  • #25,533
  • Sep 20, 2013 3:04pm Sep 20, 2013 3:04pm
Dow/Gold logarithmic
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Be hopeful in a winning position, and fearful in a losing position.
  • #25,534
  • Sep 20, 2013 3:06pm Sep 20, 2013 3:06pm
GSR

sorry for all the long term charts but i dont really scalp the metals
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Be hopeful in a winning position, and fearful in a losing position.
  • #25,535
  • Sep 20, 2013 3:20pm Sep 20, 2013 3:20pm
Quoting KADC
{quote} I posted this video a few days ago, but I think you did everyone a service by posting that chart and saving them from watching him speak for a half hour.

lol, i dont mind him speaking, plus there are lots of other charts in that video that are useful

hes not the greatest technical analyst but hes sure knows how to keep it simple

hes a great fundamental analyst
Be hopeful in a winning position, and fearful in a losing position.
  • #25,536
  • Sep 20, 2013 3:33pm Sep 20, 2013 3:33pm
Quoting XTrade
{quote} Based on what? ...... or _ _ _ _ _ __ _ __ _ __ _ or __________________________ ___________ Even with the FED talking later it's not the FOMC and they already bombed the USD and lost credibility this week so, for now this just looks like some PROFIT taking and technical correction..

I don't care what feds are talking about, just based on my EW counting.
  • #25,537
  • Sep 20, 2013 3:38pm Sep 20, 2013 3:38pm
Have a long position from 1298, wanted to hold on as long as possible but will go for a take profit at 1353. Think we on our way south again, best way to make money with trading is to go psychopath on the charts - not emotion. Anyway, my analysis for couple of scalping opportunities.

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  • #25,538
  • Sep 20, 2013 3:42pm Sep 20, 2013 3:42pm
Quoting Rag2RichesFX
{quote} lol, i dont mind him speaking, plus there are lots of other charts in that video that are useful hes not the greatest technical analyst but hes sure knows how to keep it simple hes a great fundamental analyst
His ideas are great, but I find he takes far too long to get to the point and he dwells too long once he gets there for my liking.
You can always make money tomorrow provided you don't lose it today.
  • #25,539
  • Sep 20, 2013 3:44pm Sep 20, 2013 3:44pm
Quoting SunTrader
{quote} ABC is 4th wave on weekly chart. But actually you got me thinking that is might only be wave A (in 3 waves) with B & C yet to come. Next week or two should decide. I believe my daily count is correct but there will be almost no doubt if Wednesday's low gets taken soon. And if that does keep in mind my daily chart is showing most likely a minor wave 5 of the major wave 5 projected on weekly chart. And oh boy again if I am right note the approx. fib zones (subject to possible adjustment later of course) : 1151.-1112. minimum, 1037.-936. typical...

My weekly chart looks like this,I think weekly 4th wave will end around minimum 1130,typical 972,max I think around 817.then will be wave 5 on weekly.
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  • #25,540
  • Sep 20, 2013 4:20pm Sep 20, 2013 4:20pm
Quoting KADC
{quote} Hourly RSI for gold is too low to sell from here yet it needs to break through resistance for a buy signal and the same goes for silver. More adventurous traders might decide that buying from this level has a good enough risk/reward ratio to warrant taking a chance though I only do that from below 20 which isn't the case for either at the moment. Personally, I would wait for a break of hourly RSI resistance before buying. Price-wise, we're sitting at 50% of the Wednesday low to the Thursday high for gold. Selling at the end of a strong move...

Actually I'm in short position 1.370-75 area.
For now on H1 RSI is too low, there would be some movement to north ?
On H4 Chart, fibo from 1430 to 1290 i see way to south from 1370 area, that's why i shorted.
On D1 chart 1320 area is good support area.
And plus these, i couldnt catch the right time to close my positions... waiting monday...
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