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Only Gold!

  • #2,981
  • Mar 4, 2014 4:50am Mar 4, 2014 4:50am
Quoting Nitsan_Levi
{quote} if not from here..next strong support in price 1330
Anyone buying - trade light.
To live a successful life, we must lose our fear of being wrong
  • #2,982
  • Mar 4, 2014 5:05am Mar 4, 2014 5:05am
Short term view:

Attached Image (click to enlarge)
Click to Enlarge Name: Gold 1hr.png Size: 106 KB


Currently also trading at the bottom TL of recent up move channel. Looking for a break of this channel to form a new downward channel.

S&P + FTSE recovered from the drop yesterday based on Ukraine.

IMO the up move was highly influenced by the recent news which pushed it to the "expected" levels that we're being aimed for. However, prior to that, PA was starting to stall.

UNLESS PA doesn't react to the recovery, I wouldn't be buying this no more (mid term) until a full correction is now completed. Again, this is on a mid-longer term, scalpers can make money trading either way intraday.
To live a successful life, we must lose our fear of being wrong
  • #2,983
  • Mar 4, 2014 5:08am Mar 4, 2014 5:08am
Quoting EatPIPs
Short term view: {image} Currently also trading at the bottom TL of recent up move channel. Looking for a break of this channel to form a new downward channel. S&P + FTSE recovered from the drop yesterday based on Ukraine. IMO the up move was highly influenced by the recent news which pushed it to the "expected" levels that we're being aimed for. However, prior to that, PA was starting to stall. UNLESS PA doesn't react to the recovery, I wouldn't be buying this no more (mid term) until a full correction is now completed. Again, this is on a longer...
Putin blinks. Gold most likely retreat to 1325 to await NFP. Scalping.
"The market can remain irrational longer than you can remain solvent"
  • #2,984
  • Mar 4, 2014 5:08am Mar 4, 2014 5:08am
Quoting anton.olff
{quote} Putin blinks. Gold most likely retreat to 1325 to await NFP. Scalping.
To live a successful life, we must lose our fear of being wrong
  • #2,985
  • Mar 4, 2014 5:11am Mar 4, 2014 5:11am
Quoting anton.olff
{quote} Putin blinks. Gold most likely retreat to 1325 to await NFP. Scalping.
If we are trading in the 1320 region at the time of NFP - personally, I think NFP could push it through to 1300.
To live a successful life, we must lose our fear of being wrong
  • #2,986
  • Mar 4, 2014 5:18am Mar 4, 2014 5:18am
Quoting EatPIPs
{quote} If we are trading in the 1320 region at the time of NFP - personally, I think NFP could push it through to 1300.
Very high odds PA will attempt to break key support at 1300 & hit 1288 regardless of what NFP is, as traders will take some profits. It has been a long stretch from 1180 to 1350 since January 1st, without any significant retracement...and as soon as it is clear that the FED is not tapering the taper, we could see 1250-1288 region, or lower.
"The market can remain irrational longer than you can remain solvent"
  • #2,987
  • Mar 4, 2014 5:21am Mar 4, 2014 5:21am
Quoting anton.olff
{quote} Very high odds PA will attempt to break key support at 1300 & hit 1288 regardless of what NFP is, as traders will take some profits. It has been a long stretch from 1180 to 1350 since January 1st, without any significant retracement...and as soon as it is clear that the FED is not tapering the taper, we could see 1250-1288 region, or lower.
NFP will push it (in respect to my thinking) depending on the outcome - not to form a new price but to unstablize the PA.

Agreed that now 12xx is on the books.
To live a successful life, we must lose our fear of being wrong
  • #2,988
  • Mar 4, 2014 6:42am Mar 4, 2014 6:42am
NFP is still far. The upside bias for short term is definitely almost gone right now but I believe it is just another breath before the price of gold shooting to the upside one more time.
  • #2,989
  • Mar 4, 2014 6:48am Mar 4, 2014 6:48am
Quoting henchen
NFP is still far. The upside bias for short term is definitely almost gone right now but I believe it is just another breath before the price of gold shooting to the upside one more time.
Based on what? Do you have charts?
To live a successful life, we must lose our fear of being wrong
  • #2,990
  • Mar 4, 2014 6:57am Mar 4, 2014 6:57am
Quoting EatPIPs
{quote} Anyone buying - trade light.

Thanks, I'm gonna test longs now. Lets see if these survive by next Asian session. Hope nice bottom by next Asian or Friday.

Quoting GoldenGunner
{quote} Thank you. I will try this out. I previously noticed trading patterns with respect to opening times and other times during the trading day but never thought to quantify or track it in this way. P.S I never place trades based on the news, I only observe the reaction to it :-) Thanks again.
The point about these key hrs is that, you don't jump to trade when your system says Go, rather you wait until these key hrs, like I did yesterday to sell @ 1352. Not always right, but I feel good using these.
Hello World!
  • #2,991
  • Mar 4, 2014 7:03am Mar 4, 2014 7:03am
Quoting Nitsan_Levi
{quote} if not from here..next strong support in price 1330
I say use Time, next support visible @ End of US session or prolly 12 pm NY EST

OR (if that breaks too)

Be conservative with longs until Fri. Trade light with SL placed far away.
Hello World!
  • #2,992
  • Mar 4, 2014 7:05am Mar 4, 2014 7:05am
Some area close to the bottom before US opening could be bottom too. Its about time.

Like EP said, if long, trade light, watch your MM carefully.
Hello World!
  • #2,993
  • Mar 4, 2014 7:10am Mar 4, 2014 7:10am
Hi All, in my honest and humble opinion, gold needs to climb to 136+ to give it a more concrete cause to climb higher to 143+.. yesterday's metal rise only took the ratio of gold/silver to 63.8+ level which i believe that rise yesterday was a mere rise due to war threat...
other than that, metals would be ranging from yestarday's high to an interim support of 1331 or 1320 area.. so sorry, no charts to show though but those who uses MA would know that no matter what MA u use, theres a MA at 1330 area (mine is smoothedMA 200 on the lower timeframe ,another support on my chart would be around 1317 area where my 1hr smoothedMA 55 and 4hr smoothed MA 55 are right now)...
again, i would be wrong just like any other trader would but i am sure to load my longs around my MAs as i believe the 136+ area would be the next immediate target once gold establish its support on this minor leg down that we are seeing right now..
again, price movements eg (breaking support/resistance) changes and determines a new picture everytime, but for me, this is the picture that i see right now.. so sorry if it differs from others.. cheers and good luck!!
  • #2,994
  • Mar 4, 2014 7:16am Mar 4, 2014 7:16am
Quoting VonBoyan
Hi All, in my honest and humble opinion, gold needs to climb to 136+ to give it a more concrete cause to climb higher to 143+.. yesterday's metal rise only took the ratio of gold/silver to 63.8+ level which i believe that rise yesterday was a mere rise due to war threat... other than that, metals would be ranging from yestarday's high to an interim support of 1331 or 1320 area.. so sorry, no charts to show though but those who uses MA would know that no matter what MA u use, theres a MA at 1330 area (mine is smoothedMA 200 on the lower timeframe...
Good analysis dude

Everyone has their own methods and system. Trade what you believe.

Saying that, price has retraced over 61% since Friday's low and yesterdays (Monday's) high - even though it's yet to break and hold lower, a retest of the current high is quite truly possible, however also unlikely if price has been topped from high prior to that.

It's a matter of watching PA and news even though I know most of you here don't agree that news moves the price.
To live a successful life, we must lose our fear of being wrong
  • #2,995
  • Mar 4, 2014 7:18am Mar 4, 2014 7:18am
Quoting VonBoyan
Hi All, in my honest and humble opinion, gold needs to climb to 136+ to give it a more concrete cause to climb higher to 143+.. yesterday's metal rise only took the ratio of gold/silver to 63.8+ level which i believe that rise yesterday was a mere rise due to war threat... other than that, metals would be ranging from yestarday's high to an interim support of 1331 or 1320 area.. so sorry, no charts to show though but those who uses MA would know that no matter what MA u use, theres a MA at 1330 area (mine is smoothedMA 200 on the lower timeframe...
oh btw, trade wise, i loaded a long at 1331 area even though i see it has the potential to go to 1320++(where i will load more longs) all my shorts yesterday already closed with profits.. .. like i said yesterday, "now finding a reason to go long".. good luck in trading everyone no matter u going long or short.. like EatPips said "trade light".. i couldn't agree more to that quote right now..
  • #2,996
  • Mar 4, 2014 7:21am Mar 4, 2014 7:21am
Quoting EatPIPs
{quote} Good analysis dude Everyone has their own methods and system. Trade what you believe. Saying that, price has retraced over 61% since Friday's low and yesterdays (Monday's) high - even though it's yet to break and hold lower, a retest of the current high is quite truly possible, however also unlikely if price has been topped from high prior to that. It's a matter of watching PA and news even though I know most of you here don't agree that news moves the price.
thank u sir.. btw, i am one of those who uses news to trade too.. my opinion (even though wrong to some).. NEWS moves XAU/USD.. hehehehe..
  • #2,997
  • Mar 4, 2014 7:23am Mar 4, 2014 7:23am
Quoting EatPIPs
{quote} Good analysis dude Everyone has their own methods and system. Trade what you believe. Saying that, price has retraced over 61% since Friday's low and yesterdays (Monday's) high - even though it's yet to break and hold lower, a retest of the current high is quite truly possible, however also unlikely if price has been topped from high prior to that. It's a matter of watching PA and news even though I know most of you here don't agree that news moves the price.
Dude, most here believe in News, most think News drives PA, you gotta trust me on this!
Hello World!
  • #2,998
  • Mar 4, 2014 7:25am Mar 4, 2014 7:25am
Quoting ClockTrader
{quote} Dude, most here believe in News, most think News drives PA, you gotta trust me on this!
Maybe most do, very few talk about it in the correct manner.

I believe solely in PASR, however news influences my decisions.
To live a successful life, we must lose our fear of being wrong
  • #2,999
  • Mar 4, 2014 7:26am Mar 4, 2014 7:26am
Attached Image (click to enlarge)
Click to Enlarge Name: Gold 1hr.png Size: 106 KB


Attached Image (click to enlarge)
Click to Enlarge Name: Gold 1hr 2.png Size: 99 KB
To live a successful life, we must lose our fear of being wrong
  • #3,000
  • Mar 4, 2014 7:50am Mar 4, 2014 7:50am
ok.. with no more datas for USD tonight, am going to end my trading day in a short while as its been a long and fruitful asian and (london morning) today for me.. time to enjoy my evening (night time here in singapore)with wifey and kiddos.. i thank all for the awesome posts and thank GOD for the opportunities and rewards.. am just gonna set my SLs, limits, and TPs before i signed off.. again, good luck in trading, trade light, watch the margins and be profitable, always!!! cheers!!
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