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All Majors and Gold

  • #9,121
  • Dec 4, 2013 2:50pm Dec 4, 2013 2:50pm
To all readers and followers
I'm getting bored talking to myself
please posts any comments and charts.
I don't bite.

Thanks,

G

ps don't treat my posts as service but try to learn and I welcome any comments.
Wooooohooooo or Boooooohooooo
  • #9,122
  • Dec 4, 2013 3:05pm Dec 4, 2013 3:05pm
Silver
Attached Image (click to enlarge)
Click to Enlarge Name: xagusd-hourly-04122013-2035uk.jpg Size: 95 KB
If you think you can or cannot do it you are correct
  • #9,123
  • Dec 4, 2013 3:08pm Dec 4, 2013 3:08pm
hi G,
I wonder if there is any reason for today's raising, or simply as stated in previous posts - it was unpredictable?
  • #9,124
  • Dec 4, 2013 3:17pm Dec 4, 2013 3:17pm
Quoting wield
hi G, I wonder if there is any reason for today's raising, or simply as stated in previous posts - it was unpredictable?
Technical wise yes an almost total Retracement from last weeks drop.
As far as fundamental I think it was either the OPEC news and/or Obama speach today.
I need to scan the news wires for that.
Buy unexpected well when you trade you need to see And plan for both direction so that can react when you need to.
Wooooohooooo or Boooooohooooo
  • #9,125
  • Dec 4, 2013 3:18pm Dec 4, 2013 3:18pm
Quoting gnomoneey
To all readers and followers I'm getting bored talking to myself please posts any comments and charts. I don't bite. Thanks, G ps don't treat my posts as service but try to learn and I welcome any comments.
Thanks gnomoneey, this is more clear. I would start trying my longs if it gets past 1260. 1233 level might give an indication too.
  • #9,126
  • Dec 4, 2013 3:20pm Dec 4, 2013 3:20pm
Quoting wield
hi G, I wonder if there is any reason for today's raising, or simply as stated in previous posts - it was unpredictable?
In my opinion, this was to finally confirm the top around 1251 area as well as the obvious short squeeze...

But of course if the price exceeds that area then this quadruple top will be invalidated
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.png Size: 93 KB
Trade with what you see, not what you feel.
  • #9,127
  • Edited 4:29pm Dec 4, 2013 4:12pm | Edited 4:29pm
Quoting Basement
{quote} In my opinion, this was to finally confirm the top around 1251 area as well as the obvious short squeeze... But of course if the price exceeds that area then this quadruple top will be invalidated {image}
Basement,

just a small critic if I may and meant for you and others....
movements like what we saw today will kill you or make you good cash
1- make sure you always know why you traded
2- make sure your money management is good
3- know your exit before trading ...when you are in the green or in the red(loss)

ok your chart tells me that a top might have been reached because of that channel....but really top might not be in place yet and channel only has two touches not three to make it an even stronger resistance
I would only take partial trades when doing potential resistance bounce with tight stoploss at 1255
I myself would wait until I see 1237 to be broken before I take that trade in full trade
- when 1237 broken then it is confirmed that a retracement is now in place.....
question now is how far down....
so now draw fibs from this mornings bottom and this top which 1211-1251
23% 1241 most likely will happen
38% 1236 most likely will happen and break or bounce
50% 1231 watch reaction on 38% and then this might happen
62% 1226 a lot of accumulation from this morning in this area
now you see 1236 is a fib value and also a support from previous ....look left on h4 view
Attached Image (click to enlarge)
Click to Enlarge Name: xauusddec3h4fibstargets.png Size: 103 KB


ok that's it for teaching today.......hope elle17 and others are learning
Wooooohooooo or Boooooohooooo
  • #9,128
  • Dec 4, 2013 5:14pm Dec 4, 2013 5:14pm
Quoting gnomoneey
{quote} Basement, just a small critic if I may and meant for you and others.... movements like what we saw today will kill you or make you good cash 1- make sure you always know why you traded 2- make sure your money management is good 3- know your exit before trading ...when you are in the green or in the red(loss) ok your chart tells me that a top might have been reached because of that channel....but really top might not be in place yet and channel only has two touches not three to make it an even stronger resistance I would only take partial...
Of course, I'm no expert at this, and always learning all time time.

Thanks for the lesson, some good analysis and what to watch out for.
Trade with what you see, not what you feel.
  • #9,129
  • Dec 4, 2013 5:17pm Dec 4, 2013 5:17pm
Thanks G

Quoting gnomoneey
{quote} Basement, just a small critic if I may and meant for you and others.... movements like what we saw today will kill you or make you good cash 1- make sure you always know why you traded 2- make sure your money management is good 3- know your exit before trading ...when you are in the green or in the red(loss) ok your chart tells me that a top might have been reached because of that channel....but really top might not be in place yet and channel only has two touches not three to make it an even stronger resistance I would only take partial...
  • #9,130
  • Dec 4, 2013 5:32pm Dec 4, 2013 5:32pm
From my chart,

I have TF 1h, which a bull flag is defined also I include TF 4h to support that the bull shall go up bit more.

Probably the TP will be around 1254 to 1260.


How about that G ?
Attached Image (click to enlarge)
Click to Enlarge Name: 4.12.13.png Size: 53 KB
Gold is my pleasure.
  • #9,131
  • Edited 6:31pm Dec 4, 2013 6:14pm | Edited 6:31pm
Quoting jebataro
From my chart, I have TF 1h, which a bull flag is defined also I include TF 4h to support that the bull shall go up bit more. Probably the TP will be around 1254 to 1260. How about that G ? {image}
don't make a mistake of falling in love with your views.....not saying its wrong or right as no one knows until time shows you....
so you also make plans if this happens then I look for this scenario....got it?
Wooooohooooo or Boooooohooooo
  • #9,132
  • Dec 4, 2013 6:16pm Dec 4, 2013 6:16pm
Quoting Basement
{quote} Of course, I'm no expert at this, and always learning all time time. Thanks for the lesson, some good analysis and what to watch out for.
THANKS
Wooooohooooo or Boooooohooooo
  • #9,133
  • Dec 4, 2013 6:19pm Dec 4, 2013 6:19pm
Quoting gnomoneey
{quote} Basement, just a small critic if I may and meant for you and others.... movements like what we saw today will kill you or make you good cash 1- make sure you always know why you traded 2- make sure your money management is good 3- know your exit before trading ...when you are in the green or in the red(loss) ok your chart tells me that a top might have been reached because of that channel....but really top might not be in place yet and channel only has two touches not three to make it an even stronger resistance I would only take partial...
so now draw fibs from this mornings bottom and this top which 1211-1251
23% 1241 most likely will happen......done
38% 1236 most likely will happen and break or bounce..... almost there
50% 1231 watch reaction on 38% and then this might happen
62% 1226 a lot of accumulation from this morning in this area
Wooooohooooo or Boooooohooooo
  • #9,134
  • Dec 4, 2013 6:27pm Dec 4, 2013 6:27pm
a potential target of 1287 if 1227 is a good support bounce.....why is this, anyone?
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  • #9,135
  • Dec 4, 2013 8:27pm Dec 4, 2013 8:27pm
how far down do we go......1227
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  • #9,136
  • Dec 4, 2013 8:33pm Dec 4, 2013 8:33pm
the worse article or analysis ever put on FF......this is done by a high school student......

http://www.forexfactory.com/news.php?do=news&id=460793
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  • #9,137
  • Dec 4, 2013 8:37pm Dec 4, 2013 8:37pm
here's a well thought out article .......

http://traderdannorcini.blogspot.ca/...ty-buying.html
Wooooohooooo or Boooooohooooo
  • #9,138
  • Dec 4, 2013 8:54pm Dec 4, 2013 8:54pm
Hello can someone please explain to me why is gold up even though the US had a good data?
  • #9,139
  • Dec 4, 2013 9:27pm Dec 4, 2013 9:27pm
Quoting Lv5758
Hello can someone please explain to me why is gold up even though the US had a good data?
Seasonal move ? NFP pre move?
  • #9,140
  • Dec 4, 2013 9:33pm Dec 4, 2013 9:33pm
Hi G,

I just join this forum and also focusing on trading gold. Hope I can learn and contribute in here along with the others

Regarding to the possible retracement, let's see where the market goes. 1227 is definitely a good position to open a buy position, but I personally think it will only reach 1231. But again, that's my subjectivity...at the end it is up to the market and we still need to wait for the bounce.


~@~
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