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  • #3,261
  • Mar 11, 2014 3:49am Mar 11, 2014 3:49am
About the gartley found by Nitsan,
I think , as I read on different sites, the target could be 1376/7 (161.8% Fibo).

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If you see my last chart, this value (1376/77) is near to the 78.6% Fibo (point B) on Weekly chart, great for sell and for a Butterfly pattern.

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What do you think about?
If you do not know who you are, the Forex is the worst place to find you
  • #3,262
  • Mar 11, 2014 4:08am Mar 11, 2014 4:08am
well targets can be higher only if we can make a weekly close above 1350 area, this will take the price higher only according to me.
  • #3,263
  • Mar 11, 2014 4:36am Mar 11, 2014 4:36am
March 11, 2014
GOLD
Gold in the spot market struck a high of 1344.40 and a low of 1327.95 yesterday as fears of an economic slowdown in China and Ukraine's geopolitical crisis keep investors seeking safe haven bullion. In a sign of investor confidence in the precious metal amid global uncertainties, the world's biggest bullion backed exchange traded fund saw its largest inflow in a month on Monday. Gold traders are watching developments in the Ukraine crisis, over which the West and Russia are facing their worst stand off since the Cold War. Weak Chinese exports data for February is also making investors opt for safe haven gold rather than equities. SPDR Gold Trust said its holdings rose 7.50 tonnes to 812.70 tonnes on Monday the biggest inflow since Feb. 13. In the physical market, Chinese prices continued to trade at a discount to spot prices due to weak demand.
DAILY TECHNICAL RESISTANCES AND SUPPORTS
CURRENT PRICE: 1343.00
RESISTANCES: 1350.45 1356.26 1361.41
SUPPORTS: 1336.89 1332.24 1328.54
  • #3,264
  • Mar 11, 2014 4:39am Mar 11, 2014 4:39am
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  • #3,265
  • Mar 11, 2014 4:53am Mar 11, 2014 4:53am
We are still ranging for the last week.

Started selling @ 1347 just trading this range for now.

1327-1352 is the current zone. Just take it with a pinch of salt.
To live a successful life, we must lose our fear of being wrong
  • #3,266
  • Mar 11, 2014 5:18am Mar 11, 2014 5:18am
Quoting mo.t777
{image}
is this gartley pattern?
  • #3,267
  • Mar 11, 2014 5:18am Mar 11, 2014 5:18am
Quoting EatPIPs
We are still ranging for the last week. Started selling @ 1347 just trading this range for now. 1327-1352 is the current zone. Just take it with a pinch of salt.
DONE. Good luck
  • #3,268
  • Mar 11, 2014 5:19am Mar 11, 2014 5:19am
Quoting mo.t777
{image}
it's not a descending wedge: we aren't on a descending trend on H4 o D1. It's only a cable that we can use, but not a wedge.
Be careful.
If you do not know who you are, the Forex is the worst place to find you
  • #3,269
  • Mar 11, 2014 5:44am Mar 11, 2014 5:44am
Quoting namaus
{quote} DONE. Good luck
Done?
To live a successful life, we must lose our fear of being wrong
  • #3,270
  • Mar 11, 2014 5:54am Mar 11, 2014 5:54am
My view:

1349 has been touched today (so far). I strongly see a move this week down towards 1326-1327 area. From there a retrace to 1340 and then a break lower.

However if 1350 gets taken out and left hanging then it could may well continue to make a new high sooner or later.

Trade safe & trade light.
To live a successful life, we must lose our fear of being wrong
  • #3,271
  • Mar 11, 2014 6:06am Mar 11, 2014 6:06am
Quoting EatPIPs
My view: 1349 has been touched today (so far). I strongly see a move this week down towards 1326-1327 area. From there a retrace to 1340 and then a break lower. However if 1350 gets taken out and left hanging then it could may well continue to make a new high sooner or later. Trade safe & trade light.
The big boy SPDR had 7.5 tons in previous session.
  • #3,272
  • Mar 11, 2014 6:41am Mar 11, 2014 6:41am
Quoting EatPIPs
My view: 1349 has been touched today (so far). I strongly see a move this week down towards 1326-1327 area. From there a retrace to 1340 and then a break lower. However if 1350 gets taken out and left hanging then it could may well continue to make a new high sooner or later. Trade safe & trade light.
It may touch 1350 or even 1351 and yet I do see a small peak around this area, bulls look exhaust here, nevertheless, I don't see price coming down to 1326-27 yet. There could possibly be a fall of 5 - 10$s from 1350

If a trader has been long from the bottom of this range, taking partial profit would be a good idea.
Hello World!
  • #3,273
  • Mar 11, 2014 6:42am Mar 11, 2014 6:42am
http://prntscr.com/2zuk5z


can someone give their views?
A trade should be based on an assumption based on facts
  • #3,274
  • Mar 11, 2014 6:54am Mar 11, 2014 6:54am
Quoting ClockTrader
{quote} It may touch 1350 or even 1351 and yet I do see a small peak around this area, bulls look exhaust here, nevertheless, I don't see price coming down to 1326-27 yet. There could possibly be a fall of 5 - 10$s from 1350 If a trader has been long from the bottom of this range, taking partial profit would be a good idea.
Just checked news for today, with the JOLTS time trigger in place, if there is volatility like I want, I think I got a nice strategy brewing up in my mind.

Regardless of what the news is, regardless of how price treats the news, a small dip of 5 - 10 $s before or after the news cannot be ruled out.

PS: I never trade news, but developing taste for trading volatility.
Hello World!
  • #3,275
  • Mar 11, 2014 6:54am Mar 11, 2014 6:54am
silver preparing for golden cross aswell 50ma crosses 200 ma on Daily chart, if this happens like at gold Daily chart we go strong upside.
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  • #3,276
  • Mar 11, 2014 6:58am Mar 11, 2014 6:58am
Quoting letscry
silver preparing for golden cross aswell 50ma crosses 200 ma on Daily chart, if this happens like at gold Daily chart we go strong upside. {image}
Price will be long gone by the time that crosses.
rat
  • #3,277
  • Mar 11, 2014 6:59am Mar 11, 2014 6:59am
Quoting Mave
http://prntscr.com/2zuk5z can someone give their views?
its a chart and its going up.
sanks
rat
  • #3,278
  • Mar 11, 2014 7:16am Mar 11, 2014 7:16am
Quoting rattyo
{quote} its a chart and its going up. sanks

No Stupid traps?
A trade should be based on an assumption based on facts
  • #3,279
  • Mar 11, 2014 7:34am Mar 11, 2014 7:34am
Quoting nitsan_levi
more buy 1h gartley + sma300 great risk/profit ratio here.. {image}
stop move to zero...and wait for take profit
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  • #3,280
  • Mar 11, 2014 7:44am Mar 11, 2014 7:44am
Quoting Nitsan_Levi
{quote} stop move to zero...and wait for take profit {image}
I say take partial profit here.

If its a day/session trade, close all longs.
Hello World!
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