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  • #2,021
  • Jan 7, 2014 1:45am Jan 7, 2014 1:45am
Quoting ClockTrader
{quote} Sitting on sidelines, not playing, but, I plan to join the track very soon, only the direction would be different. See ya guys on road within 24 - 48 hrs.
I just test fired a short @ 1241, SL @ 1265

While I could & should have waited a little longer, but..
Hello World!
  • #2,022
  • Jan 7, 2014 7:50am Jan 7, 2014 7:50am
Quoting ClockTrader
{quote} I just test fired a short @ 1241, SL @ 1265 While I could & should have waited a little longer, but..
Irrespective of my test short fire, I hope we get 100% clear picture within a ~week where this is heading to, m gonna watch like a conservative hawk how it plays out.

BTW, I'm missing my dear fellow member Super Mario :-)
Hello World!
  • #2,023
  • Jan 7, 2014 8:57am Jan 7, 2014 8:57am
Quoting ClockTrader
{quote} I just test fired a short @ 1241, SL @ 1265 While I could & should have waited a little longer, but..


Good one ..but no need of SL in bearish market ...easy fall towards 1195... .then I will be looking for 1160-50
  • #2,024
  • Jan 7, 2014 9:07am Jan 7, 2014 9:07am
Quoting rambo12
{quote} Good one ..but no need of SL in bearish market ...easy fall towards 1195... .then I will be looking for 1160-50
When everything is coming your way, you are in the wrong lane.
In other words, you are going against the wave,
In such a situation, even using a SL may not work (Spikes Suck)
However, when you are going in the right direction, you certainly don't need SL.

Driving in the right direction? How many times? How precise? When to get on & off?
Easily said than done. SLs are good for traders.

Heck, someone here may even always know where this is going, how about practicing a strategy which is almost always correct?

I repeat, Easily said than done.
Hello World!
  • #2,025
  • Jan 7, 2014 9:09am Jan 7, 2014 9:09am
Quoting ClockTrader
{quote} Like I said earlier, it seemed good only for intraday / scalp or small swing. You might wanna begin trying shorts sometime around / after 20th of Jan. Additionally, try applying your triangles or whatever on past 10 years on Daily chart & let me know how many times would you have made money?
That was a testing call based on technicals . I follow fundamentals( to know the trend ) first ..then technicals( Elliot waves,,BB, Fibos ) .. As I am a swing trader ..
  • #2,026
  • Jan 7, 2014 9:15am Jan 7, 2014 9:15am
Quoting ClockTrader
{quote} When everything is coming your way, you are in the wrong lane. In other words, you are going against the wave, In such a situation, even using a SL may not work (Spikes Suck) However, when you are going in the right direction, you certainly don't need SL. Driving in the right direction? How many times? How precise? When to get on & off? Easily said than done. SLs are good for traders. Heck, someone here may even always know where this is going, how about practicing a strategy which is almost always correct? I repeat, Easily said than done....
I like this very much, but I think that this kind of logic, only comes from experience and reasonable expectations with trading .Many people here may not realize it but they are not traders, but full on gamblers with a get rich quick attitude, I been there myself and it sucks but I only see that now after having taken a few margin calls. SL's are my insurance policy regardless if I think its a good trade or not.

Price has been acting very irrational from early December, I would like to think that a major drop is well overdue ,but there are too many people out there with their agendas desperately fighting to keep prices above the so called production cut off cost of 1200 (which I think its an absolute farce). I think it will take a few more tests of this area to get a clearly defined trend direction almost certainly south if no major geopolitical issues occur or US economy takes a turn for worse.
Officer ... I swear to drunk I am not God
  • #2,027
  • Jan 7, 2014 9:18am Jan 7, 2014 9:18am
Quoting ClockTrader
{quote} When everything is coming your way, you are in the wrong lane. In other words, you are going against the wave, In such a situation, even using a SL may not work (Spikes Suck) However, when you are going in the right direction, you certainly don't need SL. Driving in the right direction? How many times? How precise? When to get on & off? Easily said than done. SLs are good for traders. Heck, someone here may even always know where this is going, how about practicing a strategy which is almost always correct? I repeat, Easily said than done....
Hmm agreed sir
  • #2,028
  • Jan 7, 2014 9:43am Jan 7, 2014 9:43am
Quoting Fidza
{quote} I like this very much, but I think that this kind of logic, only comes from experience and reasonable expectations with trading .Many people here may not realize it but they are not traders, but full on gamblers with a get rich quick attitude, I been there myself and it sucks but I only see that now after having taken a few margin calls. SL's are my insurance policy regardless if I think its a good trade or not. Price has been acting very irrational from early December, I would like to think that a major drop is well overdue ,but there are...
Production Cost 1200? Does it even matter? Times have been changing while ordinary people been worrying about this factor, read below:

http://www.forexfactory.com/showthre...20#post7178820

I don't like to see Gold falling & the way next few weeks appear to be trending, its only shaking the hell out of me.

Time to call it a day.
Hello World!
  • #2,029
  • Jan 7, 2014 10:21am Jan 7, 2014 10:21am
Quoting ClockTrader
{quote} I just test fired a short @ 1241, SL @ 1265 While I could & should have waited a little longer, but..
I love your short area, but may I ask why SL @ 1265?

Wouldn't it make more sense to put it above 1250 to be conservative or above 1275 if more aggressive?

I see 1265 as a good r/r short.

Any thoughts?
  • #2,030
  • Jan 7, 2014 10:23am Jan 7, 2014 10:23am
May bounce back to 1250 if it doesn't break 1215
  • #2,031
  • Jan 7, 2014 10:26am Jan 7, 2014 10:26am
I believe 1252-55 good SL .if it breaks more fire up to 1275 -80
  • #2,032
  • Jan 7, 2014 2:29pm Jan 7, 2014 2:29pm
Quoting ClockTrader
{quote} Production Cost 1200? Does it even matter? Times have been changing while ordinary people been worrying about this factor, read below: http://www.forexfactory.com/showthre...20#post7178820 I don't like to see Gold falling & the way next few weeks appear to be trending, its only shaking the hell out of me. Time to call it a day.

In 2003 the price of gold was below 350$ and they were making money then. You mean to say that gold production costs have more than quadrupled in 10 years. That would be quite an inflation rate.
  • #2,033
  • Jan 7, 2014 2:46pm Jan 7, 2014 2:46pm
Here is a link on gold costs . However there is other factors like tax credits that local governments grant to companies to create some economic development that offsets the costs. Also depending on the country, rehabilitation costs are not incurred as no rehabilitation is done.
  • #2,034
  • Jan 8, 2014 7:31am Jan 8, 2014 7:31am
I think not more strong for bear..
Attached Image (click to enlarge)
Click to Enlarge Name: 1250.jpg Size: 88 KB
visit www.OlimpiaFX.com
  • #2,035
  • Jan 8, 2014 7:34am Jan 8, 2014 7:34am
Quoting olimpia
I think not more strong for bear.. {image}
what time frame is your channel image chart of
  • #2,036
  • Jan 8, 2014 7:41am Jan 8, 2014 7:41am
Quoting amansuri1
{quote} what time frame is your channel image chart of

This is h4 frame... we need consider the good news with ADP Non-Farm Employment Change so the $ became strong.. but I think It will autocorrect the trend and could be going up again..

See.. the D1 frame to know direction..
visit www.OlimpiaFX.com
  • #2,037
  • Jan 8, 2014 7:44am Jan 8, 2014 7:44am
1220 important support if it breaks then down straight
  • #2,038
  • Jan 8, 2014 7:57am Jan 8, 2014 7:57am
Quoting amansuri1
1220 important support if it breaks then down straight
Most likely...though I took out all my shorts for profit and am on the sidelines. I'd like to see price action move up a bit so I can reload shorts, which certainly might happen when FOMC minutes are released...though it is just as likely price will continue southward towards 1180 again.
"The market can remain irrational longer than you can remain solvent"
  • #2,039
  • Jan 8, 2014 8:22am Jan 8, 2014 8:22am
Quoting olimpia
I think not more strong for bear.. {image}
CCI shows a clear direction for short.
  • #2,040
  • Jan 8, 2014 10:06am Jan 8, 2014 10:06am
Probably gold will touch 1215 tonight
Attached Image
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