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Only Gold!

  • #1,201
  • Oct 1, 2013 11:44pm Oct 1, 2013 11:44pm
Quoting ClockTrader
{quote} Gold is still quite weak & vulnerable. We got a news trigger ahead: "ADP Non-Farm Employment Change", who knows its neutral, good or bad for Gold & on top of that how Gold will behave before & after this trigger? Fingers crossed, its all too scary & I'm content that I'm not playing right now. The temptation to play has been growing & I just hope I can hold my horses real tight until 7th, preferably until 8th.
Based on the previous 4HR candle, I entered a long with a tightish SL. Would be ideal to see it back over 1300.
To live a successful life, we must lose our fear of being wrong
  • #1,202
  • Oct 2, 2013 2:51am Oct 2, 2013 2:51am
Quoting ClockTrader
{quote} Gold is still quite weak & vulnerable. We got a news trigger ahead: "ADP Non-Farm Employment Change", who knows its neutral, good or bad for Gold & on top of that how Gold will behave before & after this trigger? Fingers crossed, its all too scary & I'm content that I'm not playing right now. The temptation to play has been growing & I just hope I can hold my horses real tight until 7th, preferably until 8th.
I thought because of Gov.Shutdown in US they will be not releasing statistics? No?
  • #1,203
  • Oct 2, 2013 3:07am Oct 2, 2013 3:07am
Quoting Super_Mario
{quote} I thought because of Gov.Shutdown in US they will be not releasing statistics? No?
Being based in India I have least knowledge about that. Secondly, I don't rely or follow news at all for trades / calls, but its nice to watch these time based action triggers.

I only see rough weather ahead for Gold.
Hello World!
  • #1,204
  • Oct 2, 2013 3:50am Oct 2, 2013 3:50am
hi..I am also gold trader.gold faces impotent support area.if break 1280 we can see 1270.
then 1258
If I am looking forward i can see some impotent resistance 1301..1316..1330.
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  • #1,205
  • Oct 2, 2013 5:09am Oct 2, 2013 5:09am
can any one tell me about gold for next one or two months with proper stop loss and targets?
i will be glad to see it with chart explanation if any one can do..........................
  • #1,206
  • Oct 2, 2013 6:38am Oct 2, 2013 6:38am
YA I AM TRYING FOR YOU.http://prntscr.com/1usaby
LONG TERM SL AND TP.
IF ANY QUESTION PLZ FELL FREE ASK ME..I AM TRYING ONLY MY SIDE SHOWING YOU.
BASICALLY I AM A PRICE ACTION TRADER.
  • #1,207
  • Oct 2, 2013 9:30am Oct 2, 2013 9:30am
gold

pattern ab=cd
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  • #1,208
  • Oct 2, 2013 9:36am Oct 2, 2013 9:36am
Quoting hasan...
hi..I am also gold trader.gold faces impotent support area.if break 1280 we can see 1270. then 1258 If I am looking forward i can see some impotent resistance 1301..1316..1330. {image}
just break 1302 and 1316..
now we can wait 1331 level.
but mind it 1337-1347 level so impotent.if break thous level we can see 1420.
best of luck
  • #1,209
  • Oct 2, 2013 9:36am Oct 2, 2013 9:36am
Does anyone really make money trading this in the long run? The price action looks totally random to me... with one bull flag immediately invalidated by a bear flag 1-2 days later, and wild chop all over the place.
"Where you want to be is always in control, never wishing, always trading.
  • #1,210
  • Oct 2, 2013 9:43am Oct 2, 2013 9:43am
Quoting Spec_And
Does anyone really make money trading this in the long run? The price action looks totally random to me... with one bull flag immediately invalidated by a bear flag 1-2 days later, and wild chop all over the place.

Attached Image (click to enlarge)
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  • #1,211
  • Oct 2, 2013 9:47am Oct 2, 2013 9:47am
Quoting artoor
{quote} {image}
Note the bull flag prior to the start of the downtrend lines you drew, it was going up... and technically this isnt even a downtrend since the move today has invalidated yesterday's move, we have nearly erased all of yesterday's loss.

All I see is terrible, terrible chop with wide range bars. How does anyone trade this profitably?
"Where you want to be is always in control, never wishing, always trading.
  • #1,212
  • Oct 2, 2013 10:00am Oct 2, 2013 10:00am
Quoting Spec_And
Does anyone really make money trading this in the long run? The price action looks totally random to me... with one bull flag immediately invalidated by a bear flag 1-2 days later, and wild chop all over the place.
Important levels will always be important levels!
To live a successful life, we must lose our fear of being wrong
  • #1,213
  • Oct 2, 2013 10:04am Oct 2, 2013 10:04am
Quoting artoor
gold pattern ab=cd {image}
Quoting hasan...
{quote} just break 1302 and 1316.. now we can wait 1331 level. but mind it 1337-1347 level so impotent.if break thous level we can see 1420. best of luck
My view remains bearish & target 1260 by 8th of October
Hello World!
  • #1,214
  • Oct 2, 2013 10:10am Oct 2, 2013 10:10am
Quoting EatPIPs
{quote} Important levels will always be important levels!
But thats my point exactly. Important levels are getting smashed with huge range flags with no follow thrus whatsoever, we sliced thru 1305 and 1300 like a knife thru butter yesterday, and look at the price action today.

I trade primarily ES before attempting to trade gold recently, its been very confusing to say the least.
"Where you want to be is always in control, never wishing, always trading.
  • #1,215
  • Oct 2, 2013 10:15am Oct 2, 2013 10:15am
Quoting Spec_And
{quote} Note the bull flag prior to the start of the downtrend lines you drew, it was going up... and technically this isnt even a downtrend since the move today has invalidated yesterday's move, we have nearly erased all of yesterday's loss. All I see is terrible, terrible chop with wide range bars. How does anyone trade this profitably?
How about a breakout type strategy?
  • #1,216
  • Oct 2, 2013 10:22am Oct 2, 2013 10:22am
Quoting hollyk
{quote} How about a breakout type strategy?
Thats exactly what I'm trading. I was stopped in short yesterday at 1304 and 1298, held on to my trade as it dropped below 1280 because I thought it looked like a pretty nice flag so there should be further downside, woke up today to find myself stopped out at 1307.
"Where you want to be is always in control, never wishing, always trading.
  • #1,217
  • Oct 2, 2013 10:29am Oct 2, 2013 10:29am
Quoting EatPIPs
{quote} Important levels will always be important levels!
hey mate, you were long from around 1290? How did it go? you must be richer by now, aren't you?
Hello World!
  • #1,218
  • Oct 2, 2013 10:45am Oct 2, 2013 10:45am
Quoting ClockTrader
{quote} It all depends which side the balance tilts? Maybe it'll first hit the SLs below then the SLs above or vice versa, either way, we are again up for a 10-20 up <--> down <--> Goldance until bottoms out around 7-8th of October. Its been quite a day today, more challenges ahead, wish you all best of luck!
The 10-20 up <--> down <--> Goldance I was expecting from around 1290 went way beyond the expected range, FX is full of bad & good surprises. I'm feeling good that I'm not playing right now, such broad range chops would be have cut my positions, no doubt.

Looking forward to 1250 - 1260 range within 5-6 days, I'll call it a day now, wish ya all best of luck!
Hello World!
  • #1,219
  • Oct 2, 2013 11:37am Oct 2, 2013 11:37am
Quoting ClockTrader
{quote} hey mate, you were long from around 1290? How did it go? you must be richer by now, aren't you?
Hey dude,

Yes I got in at 1291, closed half the trade at 1320 and now moved SL to BE +100 with TP at 1340.

You can see my journal here.
To live a successful life, we must lose our fear of being wrong
  • #1,220
  • Oct 2, 2013 10:49pm Oct 2, 2013 10:49pm
Quoting EatPIPs
{quote} Hey dude, Yes I got in at 1291, closed half the trade at 1320 and now moved SL to BE +100 with TP at 1340. You can see my journal here.
wow, looks like you do nothing, but Forexing, is it? full time player?
Hello World!
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