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  • #2,061
  • Jan 13, 2014 7:58am Jan 13, 2014 7:58am
Looks pretty stormy ahead, finding hard to figure out intraday trend, but very hopeful the skies would be clear within a day or two.
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  • #2,062
  • Jan 13, 2014 10:36am Jan 13, 2014 10:36am
Quoting ClockTrader
Looks pretty stormy ahead, finding hard to figure out intraday trend, but very hopeful the skies would be clear within a day or two. {image}

That's my sentiment as well. On sidelines till later this week when more clarification from inflation report and FOMC minutes. It would be good if market were to move higher, as I'd like to reload shorts closer to 1300.
"The market can remain irrational longer than you can remain solvent"
  • #2,063
  • Jan 13, 2014 4:30pm Jan 13, 2014 4:30pm
This isn't really my strongest "forte" but this pattern just sticks out like a soar thumb. I think this inverse head and shoulders is "in play". I'm long from 1226 and looking for 1319 or more...we'll see if this works...doubtful it will arrive there before the "magic date" when the moon is full.
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  • #2,064
  • Jan 13, 2014 9:43pm Jan 13, 2014 9:43pm
Quoting anton.olff
{quote} That's my sentiment as well. On sidelines till later this week when more clarification from inflation report and FOMC minutes. It would be good if market were to move higher, as I'd like to reload shorts closer to 1300.
I wish I could share a view on the basis of levels like 1250 or 1300, nonetheless, I expect this to peak out within a day or so, I can only see through my clock & calendar. I don't think its going as high as 1300. On top of this I badly want to be able to get a chance to sell reasonably well, thereafter build a pile of shorts.

Quoting gspajon
This isn't really my strongest "forte" but this pattern just sticks out like a soar thumb. I think this inverse head and shoulders is "in play". I'm long from 1226 and looking for 1319 or more...we'll see if this works...doubtful it will arrive there before the "magic date" when the moon is full. {image}
If you indeed wish to take new moon & full moon as coordinates or even expect a move in accordance to these, I strongly suggest you to practice these for a few years at least & make sure to make notes, these can look random, but, eventually after researching for a few years, you'll get the feel how you could use these timings.
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  • #2,065
  • Jan 14, 2014 8:03am Jan 14, 2014 8:03am
Quoting ClockTrader
Looks pretty stormy ahead, finding hard to figure out intraday trend, but very hopeful the skies would be clear within a day or two. {image}
If the strength of Bulls & Bears in this Tug-of-War turns out equal, the stormy nature may get suppressed. I won't be surprised if there is no UP <--> DOWN volatility resulting in large spikes. In either case, I expect this to peak out soon, OR has it peaked out already? I hope I get my answer fast.

PS: Maybe I get to see volatility on Thu.
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  • #2,066
  • Jan 14, 2014 8:05am Jan 14, 2014 8:05am
Quoting ClockTrader
{quote} If the strength of Bulls & Bears in this Tug-of-War turns out equal, the stormy nature may get suppressed. I won't be surprised if there is no UP <--> DOWN volatility resulting in large spikes. In either case, I expect this to peak out soon, OR has it peaked out already? I hope I get my answer fast. PS: Maybe I get to see volatility on Thu.
You might be right. I think many traders are confused by the news and need clarification from upcoming economic reports...if clarification is possible. In any case, I am on pause as I'd like to take a short from at least 1270 or higher with a stop over 1315 and a target of 1188
"The market can remain irrational longer than you can remain solvent"
  • #2,067
  • Jan 14, 2014 8:39am Jan 14, 2014 8:39am
My two cents worth: Long term view for 2014

Gold has started this year at the low of 2013. As you can see on my daily chart, gold's price dropped throughout 2013 gradually from almost 1700 to below 1182. In my opinion, we could potentially be at this current years all time low (potentially!) For me, considering shorts is not an option in the longer term. Unless we see a clean clear daily close below 1182. My mid term long view on gold stands at 1400 by spring this year (within next 3-4 months). I don't believe it is going to be an easy ride there but I see this year potentially closing at around 1600-1700 based on tech prices within the last few years.

Currently, there is a zone between 1182 - 1417 that has been ranging and it needs to get out of this zone to see a clearer longer term picture. As we are near the low of this zone, with 1200 being held, I see 1300 as the next major price for resistance.

This is just my outlook on gold for the months and year ahead.
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  • #2,068
  • Jan 14, 2014 9:26am Jan 14, 2014 9:26am
Quoting EatPIPs
My two cents worth: Long term view for 2014 Gold has started this year at the low of 2013. As you can see on my daily chart, gold's price dropped throughout 2013 gradually from almost 1700 to below 1182.... {image}
Irrespective of where it goes, I hope you make good money this year.

Quoting anton.olff
{quote} You might be right. I think many traders are confused by the news and need clarification from upcoming economic reports...if clarification is possible. In any case, I am on pause as I'd like to take a short from at least 1270 or higher with a stop over 1315 and a target of 1188
I really hate these situations, where more than playing, its more of a self-control game. Feel so helpless I can't play (trade) but only wait until my clock / calendar give a go
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  • #2,069
  • Jan 14, 2014 9:39am Jan 14, 2014 9:39am
Quoting ClockTrader
... its more of a self-control game. Feel so helpless I can't play (trade) but only wait until my clock / calendar give a go
Its ALWAYS a self-control game...isn't it?
  • #2,070
  • Jan 14, 2014 10:25am Jan 14, 2014 10:25am
Quoting gspajon
{quote} Its ALWAYS a self-control game...isn't it?
Normally its Discipline, Patience, my technicals & my Rule-Book I need to follow & of course it does require self-control which I get through practice. Merely self-control doesn't stop me from playing, however, in a situation like this, I can't play & it feels like choking.

I just took a look at charts, at last there is some volatility, on H1 charts at least, lets see how this plays out CMP @ 1243
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  • #2,071
  • Jan 15, 2014 12:02am Jan 15, 2014 12:02am
I have initiated my first buy this morning. I feel I need to get in now regardless of if my trendline fails as support. I have set a tight SL with TP @ 1300. I intend to add buys on pullbacks gradually to 1370 for the moment over the next few months.
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  • #2,072
  • Jan 15, 2014 12:07am Jan 15, 2014 12:07am
Fired one short @ 1240, SL @ 1270
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  • #2,073
  • Jan 15, 2014 9:18am Jan 15, 2014 9:18am
Quoting ClockTrader
Fired one short @ 1240, SL @ 1270
Nice!! I did as well. Will add to shorts as we could see market move higher first.
"The market can remain irrational longer than you can remain solvent"
  • #2,074
  • Jan 15, 2014 10:40am Jan 15, 2014 10:40am
Quoting anton.olff
{quote} Nice!! I did as well. Will add to shorts as we could see market move higher first.
I've been doing lots of good stuff lately, not sure if its luck OR if I have suddenly improved a lot, time will tell.

I intend to share only little here, one or two posts instead of tens a day here is good, I get peace of mind & stability in what I'm doing.
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  • #2,075
  • Jan 15, 2014 11:38am Jan 15, 2014 11:38am
Quoting ClockTrader
{quote} I've been doing lots of good stuff lately, not sure if its luck OR if I have suddenly improved a lot, time will tell. I intend to share only little here, one or two posts instead of tens a day here is good, I get peace of mind & stability in what I'm doing.
To live a successful life, we must lose our fear of being wrong
  • #2,076
  • Jan 16, 2014 7:03am Jan 16, 2014 7:03am
Quoting ClockTrader
Fired one short @ 1240, SL @ 1270
Awaiting Time triggers (economic news) to see how volatility in the US session plays out. My sentiment remains short. Position in place, will watch the show with conservative eyes.
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  • #2,077
  • Jan 16, 2014 7:55am Jan 16, 2014 7:55am
Quoting ClockTrader
{quote} Awaiting Time triggers (economic news) to see how volatility in the US session plays out. My sentiment remains short. Position in place, will watch the show with conservative eyes.
Yes, so am I. Philly Fed and Bernanke, and we could see us break out of this tight range. Hoping to add to shorts at higher levels.
"The market can remain irrational longer than you can remain solvent"
  • #2,078
  • Jan 16, 2014 8:41am Jan 16, 2014 8:41am
Quoting anton.olff
{quote} Yes, so am I. Philly Fed and Bernanke, and we could see us break out of this tight range. Hoping to add to shorts at higher levels.
I wish you don't get a chance to sell from higher levels but lower levels

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  • #2,079
  • Jan 16, 2014 8:53am Jan 16, 2014 8:53am
Quoting ClockTrader
{quote} I wish you don't get a chance to sell from higher levels but lower levels
hehehe. you might be on the mark there. I decided to take a short from 1244.
"The market can remain irrational longer than you can remain solvent"
  • #2,080
  • Jan 16, 2014 9:07am Jan 16, 2014 9:07am
Quoting anton.olff
{quote} hehehe. you might be on the mark there. I decided to take a short from 1244.
OK, I'll add a paper trade here, Short @ 1241, SL @ 1251

(prev was real)
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