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Only Gold!

  • #6,181
  • Apr 7, 2014 9:15am Apr 7, 2014 9:15am
Hi guys. I'm new to SPOT GOLD and currently I'm learning analysis its market direction.
So D1 Chart, price start to retrace (bullish) at level 50-61.8.
But M30 Chart, price still in down direction.
Based on you guys's experience, which position should entry, buy or sell?
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  • #6,182
  • Apr 7, 2014 9:28am Apr 7, 2014 9:28am
Quoting ClockTrader
{quote} On a broad level I agree with both of your views, however, I would be patient and wait until tomorrow before taking any further action. I just can't see it climbing fast and hard right now. Maybe tomorrow? just not able to see any clear PA right now.
Just building up steam
  • #6,183
  • Apr 7, 2014 9:34am Apr 7, 2014 9:34am
Quoting samalmoore
{quote} Just building up steam
But which way will it break???
  • #6,184
  • Apr 7, 2014 9:44am Apr 7, 2014 9:44am
Quoting samalmoore
{quote} But which way will it break???
Gold will still kiss 1290s before he can soar
Daiky chart of gold is bearish
  • #6,185
  • Apr 7, 2014 9:45am Apr 7, 2014 9:45am
Quoting samalmoore
{quote} Just building up steam
http://t2.ftcdn.net/jpg/00/30/04/07/...lPxxUTsBr1.jpg
  • #6,186
  • Apr 7, 2014 9:47am Apr 7, 2014 9:47am
Quoting samalmoore
{quote} {image}
Damn bears!!! Leave gold ALOOONNNNEEEE!!!!
  • #6,187
  • Apr 7, 2014 9:47am Apr 7, 2014 9:47am
Quoting hamidshah.pk
{quote} No need to send it now . Just check the previous message.
Thanks mate
  • #6,188
  • Apr 7, 2014 9:48am Apr 7, 2014 9:48am
Quoting samalmoore
{quote} Damn bears!!! Leave gold ALOOONNNNEEEE!!!!
(No offence to any bears out there!!!! I'm in long at the moment - incase you hadn't guessed )
  • #6,189
  • Apr 7, 2014 9:49am Apr 7, 2014 9:49am
Hope this chart would help u folks
Attached Image (click to enlarge)
Click to Enlarge Name: gold#daily.png Size: 81 KB
Senior Trader Multi-Account Manager
  • #6,190
  • Apr 7, 2014 9:50am Apr 7, 2014 9:50am
Quoting lorix
Hope this chart would help u folks {image}
Hi Lorix,

So does your chart mean that gold is likely to rise to around 1360 before dropping again?
  • #6,191
  • Apr 7, 2014 9:51am Apr 7, 2014 9:51am
In order to while away time, a tiny call

Sell @ 1301, SL @ 1304

its against current trend, valid for 4 - 12 hrs or a session or two.

play light, very light
Hello World!
  • #6,192
  • Apr 7, 2014 9:51am Apr 7, 2014 9:51am
hoping this be for today but i dout it can break the 1306 today.... sl is 1295
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  • #6,193
  • Apr 7, 2014 9:52am Apr 7, 2014 9:52am
Quoting ClockTrader
In order to while away time, a tiny call Sell @ 1301, SL @ 1304 its against current trend, valid for 4 - 12 hrs or a session or two. play light, very light
to the 50,s zone could be yes
Senior Trader Multi-Account Manager
  • #6,194
  • Apr 7, 2014 9:53am Apr 7, 2014 9:53am
remmber
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  • #6,195
  • Apr 7, 2014 9:55am Apr 7, 2014 9:55am
Quoting samalmoore
{quote} Hi Lorix, So does your chart mean that gold is likely to rise to around 1360 before dropping again?
to the 50,s zone could be yes
Senior Trader Multi-Account Manager
  • #6,196
  • Apr 7, 2014 9:58am Apr 7, 2014 9:58am
Hey guys,

Anyone got a good spread on gold??? mine is .45 (sometimes more but usually around this)
  • #6,197
  • Apr 7, 2014 10:00am Apr 7, 2014 10:00am
Quoting lorix
{quote} to the 50,s zone could be yes
Thanks for your view mate. But, I don't understand at least half of the analysis people share here. Over 8 yrs, I didn't know Fibo until few months back. I thought it was some kind of Rocket Science. When I tried I didn't like it at all.

The remainder 50% analysis that I can understand here is completely out of my analytical scope. I could never ever understand or feel convinced with Nitsan's analysis either, although he is a very good trader without any doubt.
Hello World!
  • #6,198
  • Apr 7, 2014 10:01am Apr 7, 2014 10:01am
Quoting hamidshah.pk
{quote} http://www.forexfactory.com/attachme...3&d=1355512143 I think this was the link of that book. Plz let me know if this is the same book you are searching for.
Thanks.. That is the book that I already have. I am reading through it for my second time. So, far it is an excellent read. I tried using the math from that book. I found a Gartley pattern on the Aud/Usd pair.. and I missed the entry at point D by about 2 or 3 pips before it went into the calculated direction.. (short). For my second time through I am skipping a lot of the history in the book and focusing more on the math. I like how it focuses on finding not only trade signals, but more importantly warning signals. It is the first book that really goes into signals for failed patterns.

Also, when Nitsan Levi gets back. I would like him to answer what he can teach that isn't already in that book as far as his AB=CD pattern that is covered in depth. Anyways.. getting close to bed time. Time to read more. Play some candy crush, brush my teeth and get some ZZZZzz.. laterz all.
Luck has no place in trading. Leave that for the poker table.
  • #6,199
  • Apr 7, 2014 10:15am Apr 7, 2014 10:15am
Quoting samalmoore
To me it looks like we have a bullish flag finding support on 100EMA on M15 and a previous resistance of the last upmove, I still see a move up to +-1311 (20 day EMA), based also on weakness in the USD today. {image} {image}
Can't deny flag is a strong pattern. But if there are more than 30 candles in the flag, normally it will be invalidated. Read it from somewhere..can't remember where
  • #6,200
  • Apr 7, 2014 10:19am Apr 7, 2014 10:19am
Quoting Polaris4dy
{quote} Can't deny flag is a strong pattern. But if there are more than 30 candles in the flag, normally it will be invalidated. Read it from somewhere..can't remember where
I must say that I don't mind being wrong, after all I'm not claiming to be a master of the markets, only a student.... however, drop the flag into 1H and...

Attached Image (click to enlarge)
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[Edit] P.S. I have read something similar, I remember it being close to 15 though which still doesn't fit on the 1 hour, but on the 4 hour
I find you can often work your own lines and ideas into what has happened retrospectively
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